Partner Anil Motwani (Hong Kong-Investment Funds) presented on the topic of “Understanding Financial Statements for In-House Lawyers” at a seminar held at Shearman & Sterling’s Hong Kong office on August 8, 2023. The seminar was aimed at helping in-house lawyers to develop familiarity with commonly encountered accounting concepts and principles.
During the presentation, Anil outlined the essential aspects of US GAAP and IFRS for in-house counsel. He highlighted how in-house lawyers can effectively harness financial statements to glean commercial insights and detect patterns indicative of legal and regulatory issues. He also covered the auditor process, audit opinions and the link between financial statements and a company’s internal control function. The seminar was pragmatic and focused on the story that financial statements reveal about a company.