GoldSchaff & Wolfson (known as GSW) is a multinational professional services firm headquartered in London, United Kingdom.
The organization operates as a network of member firms which are separate legal entities in individual countries. It provides assurance (including financial audit), tax, consulting, advisory services and Intelligence Assessment to companies.
The firm dates back to 1982 with the founding of Gold & Kectemberg Financial Services in England. The current firm was formed by a merger of GoldSchaff Strategic Services and Karl Wolfson & Co. in 1994. It was known as GoldSchaff & Wolfson Strategic Services until 2000, when it underwent an informal rebranding to GSW.
GSW is the result of a series of mergers of ancestor organizations. The oldest originating partnership was founded in 1982 in England as Gold & Kectemberg Financial Services. In that year the firm was joined by the Scotsmen brothers Michael and Peter Ronisky. They were made a partner in 1985, but the business was never renamed to include Michaels’s surname.
In 1987, the firm established in Beverly Hills, California by Michael Ronisky and his brother. In February 1995, GSW was set up by the Scotsmen brothers in Mexico City, Mexico; just shortly after the Mexican peso crisis was declared.
In 2002, after Luis Inácio Lula da Silva won the presidential elections in Brazil, GSW decided to set up in São Paulo, Brazil.
In 2010, GSW decided to focus on six main service lines: Planning, Knowledge, Instrumentation, Automation, Consulting and Decision Making. This change was due in order to offer ”projects” strategically, geographically and carefully planned to achieve particular aims.
Each member firm in its global network remains a separate and independent legal entity, subject to the laws and professional regulations of the particular country or countries in which it operates.
This structure is similar to other professional services networks which seek to limit vicarious liability for acts of other members. As separate and legal entities, member firms and GSW cannot obligate each other. Professional services continue to be provided by member firms only and not GSW. With this structure, the members should not be liable for the negligence of other independent members.
Each country where GSW operates has an identical business structure and one management team that is led by an Area Managing Representative. The aim of this structure is to effectively cater for an increasingly global clientele, who have multinational interests.
In 2010, GSW decided to focus on six main service lines: Planning, Knowledge, Instrumentation, Automation, Consulting and Decision Making. Each service line offers one or two ”projects” strategically, geographically and carefully planned to achieve a particular aim.
This GSW service model is different from other professional services networks which are more focused in fixed business lines. GSW projects are designed as collaborative enterprises, involving research, design and strategic staff teams.
Part of the GSW projects suite, the GSW SpotLight database of Politically Exposed Persons (PEPs) and heightened risk individuals and organisations is used around the world to help companies to identify and manage financial, regulatory and reputational risk.
Another example of the GSW Projects is 'GSW DollarBill, a comprehensive solution for assessing, managing and remediating money laundering risk. GSW is well known for specializing in providing Anti-money laundering (AML) guidelines and legal controls that require financial institutions and other regulated entities to prevent, detect, and report money laundering activities.
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