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Confidence Accounting Seminar

 

Date

Wednesday 11 May 2011

Venue

CISI, 8 Eastcheap, EC3M 1AE

Time

12:00 to 13:30

Sponsors

www.cisi.org www.zyen.com

Links

Professor Michael Mainelli,"Accounting For Confidence", ACCA Accounting And Business, 2011

Confidence Accounting – Fixing a Root Problem in Financial Systems

‘Confidence Accounting’ is a term for moving to using distributions rather than discrete values in accounting. The term was coined by Long Finance proponents as part of a shift to interval estimates and confidence levels. In a world of Confidence Accounting the end results of audits would be presentations of distributions for major entries in the profit & loss, balance sheet and cashflow statements. The proposed benefits of Confidence Accounting include a fairer representation of financial results, reduced footnotes, measurable audit quality and a mitigation of mark-to-market perturbations. This seminar intends to explore the proposal while assessing benefits and costs.

12:00 – 12:30 Lunch 12:30 - 12:35 Introduction - Professor Michael Mainelli 12:35 – 12:45 “A Brief Introduction To Confidence Accounting” 12:45 – 12:55 “Pros and Cons of Confidence Accounting" 12:55 – 13:30 Discussion

Speakers

Paul Moxey FCCA, Head of Corporate Governance and Risk Management, ACCA Ian Harris FCA, Finance Director, Z/Yen Group Jan-Peter Onstwedder, Z/Yen Associate Professor Michael Mainelli FCSI FCCA, Executive Chairman, Z/Yen Group (chair)