We issue BUY and SELL recommendations only.

We believe the decision to buy or sell a security is based on whether the underlying risk or opportunity is correctly reflected in the company’s valuation. A detailed analysis of the disclosure and accounting choices made by management provide insight into risks that may be unknown or underappreciated by the street. We work with intrinsic values calculated using discounted cash flow models and our recommendations incorporate five key analytical categories:

Accounting and Disclosure

Accounting rules have become increasingly complex. We help clients navigate through accounting choices made by management to provide insight into the quality of earnings and operating performance.

Business Operations

The market often loses sight of fundamentals and gets caught up in the ‘story’. Our analytical techniques ensure that the ‘story’ is supported by the facts.

Corporate Governance

Understanding how an executive team is compensated provides insight into a company’s business objectives and accounting choices.

Balance Sheet Risks

Time and again, accounting scandals and unexpected losses prove that what is ‘off’ balance sheet is often more important that what is ‘on’ balance sheet. It is only after a thorough understanding and review of financial disclosures that such exposures can be uncovered.

Cash Flow Sustainability

Companies go bankrupt because they run out of cash, not earnings. Cash Flow sustainability is the key to operational health.


Our Research Process Uncovers What Others Don’t

The following is a list of our reports published to support your investment decisions:

Report Description Frequency Sample Reports
Daily Ledger Material news, trending reports, accounting updates, client outreach & top ideas Daily Daily Ledger Report


Weekly Update of our Equity Ratings


Viewpoint Report


The V-List is a concentrated portfolio of 12 to 25 companies recommended by Veritas Investment Research as the best investment opportunities drawn from our firm’s research. 

Material Changes

V-List Report

Accounting Watchlist

A list of companies at risk due to an accounting and corporate governance issue

Material Change

Accounting Watchlist Report


An in-depth review of a particular accounting issue

A listing of all reports published in the previous month


Vigil Report


Quarterly update to assess the issues that come to light that support or refute our thesis


Need-to-Know Report


An assessment of the impact material news has on our coverage universe

Material Change

Flash Report

Sector Specific

In-depth reports prepared by our sector specific analysts

As Required

Security Specific Report

Accounting Alerts A forensic accounting based review of a company’s accounting and corporate governance As Required Accounting Alerts Report

Offering Value Beyond our Research

Direct support from our analysts

Our analyst team is available at any time to help you better understand our various reports and to explain our investment ideas in greater detail.

Equity research of S&P/TSX60 and select U.S. companies

We provide research on a wide range of companies in Canada and the United States.

Nine unique publications

Each report is designed to highlight risks and opportunities on a timely basis and a Veritas model portfolio is provided.

Customized research

We provide bespoke research on global companies.

Specialized training

We provide specialized accounting, due diligence and valuation training to enhance your investment acumen.

Portfolio screening

We overlay our accounting expertise on your portfolio to highlight high risk areas.

Litigation support & expert testimony

We act as expert witness in both a consulting & testifying capacity where specialized accounting, auditing and stock market knowledge is required.