The Search for Financial Truth -- When Can Accounting Be Trusted?" BoardBoost Corporate Governance Seminar focuses on for profit and non-profit entities
When Is Information We Rely On Truly Reliable?" asks BoardBoosts President Morris Nunes. This question and several others are ready for Q & A" at upcoming BoardBoost Corporate Governance Seminar next Thursday, September 9, 2004
Falls Church, VA (PRWEB) August 11, 2004 -- BoardBoosts President Morris Nunes will be speaking at the BoardBoost Tower Club Seminar The Search for Financial Truth -- When Can Accounting Be Trusted?"", Thursday, September 9th at 7:30 AM, at the Washington, DC area Tower Club in Tysons Corner, Virginia.
The topics that Mr. Nunes of BoardBoost Corporate Governace Seminars (www.boardboost.com), will be discussing include those that have an immediate impact on all Boards: For-Profit, Non-Profit, Cooperatives and Government Agencies, federal, state and local, especially those with substantial budgetary authority.
Here are a few of the questions that Morris Nunes poses for Directors with whom he consults to ponder:
- Does your organization have the tools to monitor its financial structure?
- Do you really know what source data underlies the financial, accounting
and statistical reports you rely upon?
- Do you know how to access the data you need to test the accuracy of
accounting, financial and statistical reports you receive?
- Do you know what kind of data is applicable for verifying
financial, accounting and statistical reports you rely upon?
- Have you identified data generated outside your organization for testing the validity of financial, accounting and statistical reports?
When Is Information We Rely On truly Reliable?" Morris Nunes believes that Decisions we make are not randomly generated, but are based on input data we gather and receive upon which we rely. In making financial and operating decisions, particularly, in any kind of organization, we (Boards and management) necessarily rely upon accounting and statistical data, often generated through the efforts of others."
Morris Nunes also stresses that all decision-makers should learn to recognize inherent risk in reporting systems: The vagaries of accounting and the malleability of statistics create great risk for any decision-maker who relies on such data without first testing validity, applicability and accuracy. How do we recognize those risks? How do we conduct those tests? How do we ask the right questions? How do we deal with deficient or defective data? How do we replace it with information that can be relied upon - especially before its too late?"
The Search for Financial Truth -- When Can Accounting Be Trusted?" Seminar has a principled focus: Mr Nunes believes that the seminar will focus on the first principals to help Boards ask the right questions of all the technicians and subordinates who handle organizational accountings and financial infrastructure. This exercise is essential to adequately test and confirm that information to be relied upon is reliable -to assure that those who set the organization's course can do so with confidence."
Morris Nunes commends all corporate Boards for recognizing that the new metric for board performance is fast becoming the Sarbanes-Oxley mandates set by Congress in the wake of Enron, WorldCom and similar accounting scandals. He posits that the same principals are now becoming the standard for other organizations, like Non-Profits, Cooperatives and even Government Agencies themselves.
What all Boards and Government Agencies are not being made aware of is that information for compliance purposes should support mission success, not be a troublesome impediment," Nunes stated. Any Board that assures its organization has solid informational and decision processes and good communications will not find Sarbanes-Oxley to be traumatic, as good decisions fundamentally depend on good input information, and this is a MUST for all Boards. Every Board member needs to ask the core question about corporate governance," explained Nunes: How do you know that the information that you receive and on which you cast your votes is not already flawed, biased, skewed, inaccurate, incomplete or just plain fraudulent?" Nunes clarifies, During a BoardBoost Seminar, we strive to teach Board members how to strip away hype, skewed information and misleading data to get down to core, true facts on which decisions ought to be based. Without that capability it is very difficult for any board to succeed and to protect itself against claims of negligence or worse."
About BoardBoosts Morris Nunes: Morris Nunes, Esq., is an attorney with a Wharton degree in finance and accounting. He is on the faculty for both the Georgetown University MBA Program and Catholic University's Columbus School of Law. He has over a quarter century of experience advising businesses and non-profits. Author of five books including "Balance Sheet Management" Mr. Nunes has designed the unique BoardBoost Seminar for Directors. Each Seminar is customized to fit the individual needs of your Board's business and corporate culture, as Mr. Nunes works with boards on a one-on-one basis. To learn more about BoardBoost Seminars, providing Mission-Oriented Entity Oversight for Boards of Directors, in Government and Industry, please visit www.boardboost.com , or send and e-mail to info@boardboost.com. You may also contact Mr. Nunes care of HighViz Consulting Group at 1-800-380-2825.
BOARDBOOST Special Seminar: The Search for Financial Truth -- When Can Accounting Be Trusted?", will be held Thursday, September 9th from 7:30 AM to 9 AM at the Tower Club, 8000 Tower Crescent Drive, Suite 1700 Tysons Corner (Vienna) Virginia. web: www.tower-tysons.com Seating will be limited to 25. For reservations, Please contact the Tower Club at: 703-761-4250 or please e-mail TowerClub@highviz.net for further information.
NOTE: If you are with the media and interested in interviewing Mr. Nunes about his unique theory and approach to corporate governance, please contact Abbe Buck at 1-800-380-2825.
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