The SEC’s Financial Fraud Issues and Probes: An Update
In a two hour live webcast, The Knowledge Group assembled a panel of thought leaders and professionals to provide the audience with an in depth discussion with regards to the recent developments and insights of SEC’s Financial Fraud and Accounting Task Force.
Key topics include:
- Financial and Accounting Fraud – An Overview
- Methodologies to Identify Financial and Accounting Fraud
- Possible Outcomes of a Task Force Investigation
- Risks and Threats of Financial and Accounting Fraud
- Specialized Technology for Potential Accounting Abuses
- The Accounting Quality Model (AQM)
Jay A. Dubow, Partner
Pepper Hamilton LLP
- Strategies in Responding to Requests and Subpoenas from the SEC
- Conducting Internal Investigations to Get Ahead of the SEC
- Communications with the SEC Staff during an Investigation
- The Wells Process
Elizabeth A. Eccher, Ph.D., Principal
- Recent trends in SEC fraud investigations and restatements of financial statements
- SEC’s renewed focus on financial reporting and accounting through the Task Force
- Developing state-of-the-art methodologies that better uncover accounting fraud
- The Accounting Quality Model
- Using data analytics to assess the degree to which a company’s financial statements appear anomalous
- Underpinnings in academic research
- Discuss cash flows, accruals and “discretionary” accruals
- Discuss limitations of this approach
- Areas of continued SEC focus
- Revenue recognition, including timing issues
- Reserves, including doubtful accounts and loan losses
- Segment reporting and related disclosures
Evan Schiffman, Director
- Looking at financial, press conferences, what a company puts out for public use. Going after any anomalies.
Greg Ballard, Partner
Sidley Austin LLP
- Financial fraud initiatives – financial crisis cases New initiatives and efforts to pursue financial
Who Should Attend:
- Financial Lawyers
- Financial Executives and Directors
- Financial Advisers and Analysts
- Fraud Analysts
- Fraud Monitoring
- Financial Reporting Managers and Personnel
- Chief Financial Officers
- Other Related/Interested Professionals and Organizations
Evan Schiffman is a Director in PwC’s Forensics practice in New York. He has over 15 years experience performing forensic accounting and fraud investigations, performing anti-corruption and risk assessments and providing litigation support. He has worked on matters involving the misappropriation of assets, corporate and regulatory investigations, analysis of trade losses and fraud investigations and has experience performing the forensic investigation of registered securities broker-dealers, placed in liquidation under the Securities Investor Protection Act. He has assisted his clients respond to investigations involving the Securities and Exchange Commission, FINRA, the U.S. Department of Justice, U.S. Attorneys’ Offices and other self-regulatory organizations. He specializes in the financial services industry and has worked with banks, private equity and hedge funds, securities broker-dealers and investment management companies.
Evan Schiffman is a Director in PwC’s Forensics practice in New York. He has over 15 years experience performing forensic …
Jay A. Dubow is a partner with Pepper Hamilton LLP, resident in the Philadelphia office. He is a member of the firm’s White Collar Litigation and Investigations Practice Group and is co-chair of the Securities and Financial Services Enforcement Group. Mr. Dubow focuses his practice on complex business litigation, with a special emphasis on defending against shareholder derivative and securities class action litigation and representing clients involved in investigations by the U.S. Securities and Exchange Commission, the Pennsylvania Securities Commission and various self-regulatory organizations, including the Financial Industry Regulatory Authority, Inc. He also conducts internal investigations on behalf of clients.
Mr. Dubow first joined Pepper in 2007 from another Philadelphia law firm, where he was a partner in the litigation and corporate departments and a member of the executive committee. In 2008, he joined a client, Advanta Corp., as senior vice president, general counsel and chief administrative officer. He returned to Pepper in 2011. Mr. Dubow began his career as a branch chief in the Division of Enforcement of the U.S. Securities and Exchange Commission in Washington, D.C.
Active in local and national bar associations, Mr. Dubow is a leader in the American Bar Association’s Business Law Section and currently serves as chair of the Securities Litigation Subcommittee of the Business and Corporate Litigation Committee.
Jay A. Dubow is a partner with Pepper Hamilton LLP, resident in the Philadelphia office. He is a member of …
A specialist in accounting, financial analysis, and valuation, Dr. Eccher has served as an expert in commercial disputes involving the proper application of accounting principles. Her consulting experience includes interpretation and application of financial accounting standards and terminology, damages estimation for lost sales, cost analyses, business valuations, and financial analyses for transfer pricing. Her work has spanned such industries as computer software, biotechnology, automotive, financial services, agriculture, retail, and utilities. Examples of her consulting work include calculating lost profits in breach of contract and unfair competition cases in the high-speed rail, software, and pharmaceuticals industries; analyzing complex transactions in tax litigation; and evaluating the materiality of financial statement disclosures in the financial services industry. Before joining Analysis Group, Dr. Eccher taught financial and managerial accounting at the Sloan School of Management, Massachusetts Institute of Technology. Her research has been published in leading academic accounting journals. Dr. Eccher has a Ph.D. in accounting and information systems from Northwestern University, an M.S. in industrial administration from Purdue University, and a B.A. in economics from Dominican University.
A specialist in accounting, financial analysis, and valuation, Dr. Eccher has served as an expert in commercial disputes involving the …
GREGORY G. BALLARD is a partner in Sidley’s New York office. He is an experienced litigator who provides representation on securities and other complex commercial litigation matters in federal and state courts and before regulatory agencies. He has represented issuers, underwriters, auditors, officers and directors in class action securities litigation, including in lawsuits relating to Enron, WorldCom, Tyco, DVI, Aetna, Sunterra, Sotheby’s, Allou, Bally, Perrigo, and Wellcare. He has represented individuals and institutions in investigations by the U.S. Department of Justice, U.S. Attorneys’ Offices, the Securities and Exchange Commission, the Internal Revenue Service, and self-regulatory organizations. He has also conducted internal investigations on behalf of clients facing potential criminal and regulatory action.
GREGORY G. BALLARD is a partner in Sidley’s New York office. He is an experienced litigator who provides representation on …
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NASBA Field of Study:
Specialized Knowledge and Applications
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Areas of Professional Practice
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About PwC LLP
About PwC’s Forensic Services
PwC’s Forensic Services team of experienced professionals is dedicated to meeting the challenges caused by fraud allegations, financial crimes and other irregularities. Our PwC Forensic Services portfolio of services includes: Financial Crime Examinations, Forensic Technology Solutions, Regulatory Compliance Reviews, Fraud Risk Management and Fraud Prevention, Dispute Analysis and Litigation Support. For more information visit www.pwc.com/us/forensics.
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About Pepper Hamilton LLP
Pepper Hamilton LLP is a multi-practice law firm with more than 500 lawyers nationally. The firm provides corporate, litigation and regulatory legal services to leading businesses, governmental entities, nonprofit organizations and individuals throughout the nation and the world.
Pepper’s Securities and Financial Services Enforcement Group is a client-centric group of lawyers with particularized expertise in the enforcement process. The group was created to recognize the reality that companies that provide financial services are multi-faceted and, therefore, are subject to a wide range of regulatory regimes. Our goal is to meet you, the client, where you are; not to try to pigeon-hole your needs into a pre-existing practice group. To that end, we have combined the talents of many lawyers with different areas of expertise into one cohesive unit with a singular goal in mind: To help public and private companies providing financial services weather the storm of an ever-expanding regulatory and litigious environment and respond rapidly and forcefully to increased scrutiny by the government, its agencies and self-regulatory organizations.
The Dodd-Frank Wall Street Reform and Consumer Protection Act made many sweeping changes to the regulatory oversight of the financial services industry – including public companies and their employees. We are here to help you navigate through these dangerous waters.
About Analysis Group
Analysis Group’s more than 500 professionals provide economic, financial, and business strategy consulting to leading law firms, corporations, and government agencies. The firm’s 11 offices are located in Boston, Chicago, Dallas, Denver, Los Angeles, Menlo Park, New York, San Francisco, and Washington, DC; and internationally in Montreal and Beijing.
About Sidley Austin LLP
Sidley Austin LLP is a premier law firm with a practice highly attuned to the ever-changing international landscape. The firm has built a reputation for being an adviser for global business, with approximately 1,900 lawyers in 19 offices worldwide. Sidley maintains a commitment to providing quality legal services and to offering advice in litigation, transactional and regulatory matters spanning virtually every area of law. The firm’s lawyers have wide-reaching legal backgrounds and are dedicated to teamwork, collaboration and superior client service. For the fourth consecutive year, and each year since the survey’s inception, Sidley has received the most first-tier national rankings of any U.S. law firm in the 2014 U.S. News – Best Lawyers® “Best Law Firms” survey