Morneau Shepell Inc. (MSI) 2016年年度报告「TSX」.pdf

1、2016 Annual ReportTable of Contents2Chairs Message to Shareholders3President and CEOs Message5Managements Discussion and Analysis5Forward Looking Statements and Definitions6Outstanding Share Data6Business Overview72016 Summary and Outlook92016 Operating Results Summary10Analysis of Fourth Quarter 20

2、16 Operating Results11AnalysisofYearEndedDecember31,2016OperatingResults12Liquidity and Capital Resources17Selected Statement of Financial Position Data18Critical Accounting Policies and Estimates22Risks and Uncertainties28Selected Annual Information28Supplementary Summary of Quarterly Results28Disc

3、losure Controls and Procedures29Internal Control Over Financial Reporting30Consolidated FinancialStatements30Independent AuditorsReport31Consolidated Statements of Financial Position33Consolidated Statements of Income and Comprehensive Income34Consolidated Statements of Changes In Equity35Consolidat

4、ed Statements of Cash Flows36Notes to Consolidated FinancialStatementsAnnual Report|20161Chair s Message to Shareholders2016 was yet another good year for Morneau Shepell a fitting way to mark the Company s 50thyear in business.It wasalso my first full year as Chair of the Board of Directors.On beha

5、lf of the Board,I want to extend my appreciation to allour employees for their dedication and resiliency in ensuring the Company continued on its steady path of delivering solidbusiness results.In today s human resources industry increasingly globalized,relentlessly competitive,and evolving at an ac

6、celeratedrate Morneau Shepell has consistently sought to strike a balance between delivering results in the present whileinvesting for future growth.A critical factor in our success in recent years has been the leadership of President and CEOAlan Torrie,who after 12 years with Morneau Shepell,and th