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Canadian Public Accountability Board Signs for Kamakura’s KRIS Default Probability Service

email this aricle - Canadian Public Accountability Board Signs for Kamakura’s KRIS Default Probability Service - Honolulu, HI - 19 February 2008 print this article - Canadian Public Accountability Board Signs for Kamakura’s KRIS Default Probability Service - Honolulu, HI - 19 February 2008
Kamakura Corporation reported today that the Canadian Public Accountability Board has subscribed to the Kamakura Risk Information Services (KRIS) default probability service. CPAB (also known as CCRC in French for “Conseil Canadien sur la Reddition de Comptes”) is mandated to promote the integrity of public company auditing in Canada.

CPAB intends to use the KRIS default probabilities as early warning indicators of situations where increased scrutiny of an audit may be warranted.

“Kamakura’s KRIS default probabilities use accounting ratios, macro-economic factors, and stock price-related inputs to predict corporate bankruptcies and other corporate failures," said Warren Sherman, Kamakura President and Chief Operating Officer. “The overall balance of these three inputs predicts corporate distress at all time horizons tested more accurately than major rating agency ratings. We are honored that CPAB-CCRC will incorporate the KRIS default probabilities as part of its audit monitoring process."

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