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StoneTurn News

Alexander F. Gershner Appointed to AICPA Forensic and Valuation Services Executive Committee

New York, NY  (October 31, 2016)StoneTurn Group (“StoneTurn”), a forensic accounting and expert services firm, today announced that Alexander F. Gershner, a Manager in the firm’s New York office, has been appointed to the American Institute of CPAs’ (AICPA) Forensic and Valuation Services Executive Committee. The AICPA is the world’s largest member association representing the accounting profession, with more than 418,000 members in 143 countries.

Alex is experienced in providing forensic accounting, corporate investigation, compliance controls and monitoring, dispute consulting and financial statement audit services to an array of corporate clients and counsel. Over the course of his career, he has advised his clients on various matters involving asset misappropriation, claims of fraudulent misrepresentation, breach of contract, improper revenue recognition, fraudulent conveyance, audit malpractice, alter ego, post-acquisition disputes, and interpretation and application of Generally Accepted Accounting Principles (GAAP), among other complex litigation matters. This experience includes forensic analysis; preparation of expert reports; calculation of damages; assisting counsel in deposition and testimony preparation; and performing investigatory procedures to uncover, quantify and remediate acts of misconduct.

“This is a well-deserved appointment for Alex,” said Simon Platt, co-founder and Managing Partner of StoneTurn. “He has quickly proven himself to be a leader in his field and among his peers. This appointment is a true reflection of the range of his abilities to handle complex matters on behalf of various types of corporations and counsel. We are honored to have him as part of the StoneTurn team.”

Alex has worked with clients in the U.S., U.K. and Asia across a range of industries, including financial services, real estate, public sector, healthcare, retail, consumer products, construction, media and entertainment, and the arts.

Alex began his career at PricewaterhouseCoopers (PwC) in the Banking and Capital Markets Group of its Assurance practice. He is a Certified Public Accountant (CPA), Certified in Financial Forensics (CFF) and is a Certified Fraud Examiner. He is a Co-Chair of the New York Police and Fire Widows’ and Children’s Benefit Fund Junior Committee and an active member of the Manhattan College Mentor Program.

 

About StoneTurn Group

StoneTurn provides forensic accounting and expert services to attorneys, corporations and government agencies on a range of high-stakes legal and compliance issues.

StoneTurn was founded in 2004, on the premise of meeting clients’ demand for experts who value collaboration, prefer “hands-on” client service, and invest in long-term, trusted relationships. Our team includes former international public accounting firm partners, attorneys and industry alumni.

With professionals located in offices across the U.S. and U.K., and a network of senior advisers in numerous other countries, we provide expertise in: Complex Business Litigation, Compliance Controls & Monitoring, Forensic Accounting, Forensic Technology and Data Analytics, and Intellectual Property.

Media Contact:

Suzanne Hallberg

Zip Communications

+1 212 787 0169

shallberg@zip-comm.com

Event: Heightened Expectations & Risk Around Compliance Programs (Nov. 17)

Jonny Frank will participate in a Directors Roundtable Institute panel discussion featuring Chief Deputy Attorney General Jason Brown, Office of the New York Attorney General; Susan Schroeder, Senior Vice President, Deputy Chief Enforcement Department, FINRA; and Richard Strassberg, Partner at Goodwin.

The speakers will provide an overview of key regulatory issues for financial services institutions and other industry compliance matters, as well as how corporate leaders can ensure practical actions are taken on:

  • Prosecutors’ heightened expectations of internal investigations
  • Assessing pre-incident compliance programs
  • Elements of effective remediation
  • Increasing expectations around “big data” and transaction monitoring
  • Avoiding, selecting and interfacing with government-imposed monitors

The panel will be held at the Harvard Club in New York City on Thursday, November 17, 8:30-10:30 A.M. Please register to attend.

Event: “Trends and Hot Topics in SEC Enforcement” (Nov. 7)

The U.S. Securities and Exchange Commission (“SEC”) recently announced it had broken its own record of enforcement cases brought. This marks the third year in a row the SEC has filed an increasing number of cases. As the annual financial reporting deadline quickly approaches, we have assembled a panel of SEC enforcement alumni, including former Branch Chiefs and former Chief Accountant, for a discussion on current trends. Our speakers will also offer best practices for attorneys, audit committee and board members, corporate executives and compliance professionals  to consider as they head into year-end.

Our panel includes:

  • James Lundy, former Senior Regulatory Counsel, SEC Office of Compliance Inspections and Examinations 
  • Pravin Rao, former Branch Chief, SEC Division of Enforcement
  • Howard Scheck, former Chief Accountant, SEC Division of Enforcement
  • Junaid Zubairi, former Senior Attorney, SEC Division of Enforcement
  • Rex Homme, Partner, StoneTurn (Moderator)

Topics for our discussion include:

  • Financial reporting issues / enforcement trends (including non-GAAP measures and disclosures)
  • Judgment / hindsight issues
  • Severance agreements
  • Emphasis on internal controls

When:

Monday, November 7, 2016
3:00 p.m. – 6:00 p.m.

  • 3:00 p.m. –  3:15 p.m.                   Registration
  • 3:15 p.m. –  4:30 p.m.                   Panel Discussion and Q&A
  • 4:30 p.m. –  6:00 p.m.                   Networking Reception

Where:

The Library
190 S. LaSalle, 40th Floor
Chicago, Illinois  60603

Panelist Biographies:

James Lundy, a Partner in Drinker Biddle & Reath’s White Collar Defense and Investigations practice, spent 12 years with the SEC working at senior levels in its Division of Enforcement and Office of Compliance Inspections and Examinations.  He also served as an Associate General Counsel at a futures and securities brokerage firm affiliated with a European-based global bank, where he handled representations before the SEC, Commodities Futures Trading Commission (CFTC), FINRA, Chicago Mercantile Exchange (CME), National Futures Association (NFA) and Chicago Board Options Exchange (CBOE) in matters involving complex futures, derivatives and securities trading and transactions.

Pravin Rao, a Partner in Perkins Coie’s White Collar & Investigations practice, is a former Asst. U.S. Attorney and SEC Enforcement Branch Chief, who has prosecuted, investigated, litigated and defended numerous matters involving securities, accounting and financial fraud issues. Pravin has drawn on his extensive securities and commercial fraud background to assist individuals and companies in responding to inquiries from the DOJ, SEC, CFTC, State AGs and other government agencies. He has conducted numerous internal investigations in significant and sensitive areas, including those with Foreign Corrupt Practices Act (FCPA), financial fraud, antitrust and corporate governance issues.

Howard Scheck, a Partner with StoneTurn, has more than 25 years of experience addressing public company financial reporting issues as an independent auditor, SEC Enforcement attorney and forensic accountant—including as Chief Accountant of the SEC’s Division of Enforcement. He focuses on assisting counsel representing audit committees, public companies and audit firms in investigating accounting and auditing issues arising out of SEC and PCAOB enforcement inquiries, internal whistleblower complaints and civil lawsuits, as well as in defending clients (including individuals) in such matters.

Junaid Zubairi, Partner and the Chair of Vedder Price’s Government Enforcement & Special Investigations Group, regularly appears before the SEC, U.S. Attorney’s Office, and other federal and state agencies. His practice includes representing companies and individuals in government investigations and securities litigation, conducting internal investigations, advising clients on investment services matters, counseling clients during regulatory examinations, counseling clients FCPA matters, and providing general compliance and remediation advice.

RSVP to Katharine Tregurtha at ktregurtha@stoneturn.com by Thursday, Nov. 3, 2016.

Hosted by: Drinker Biddle & Reath, Perkins Coie, StoneTurn and Vedder Price

CLE and CPE credit pending

Howard Scheck Joins StoneTurn as a Partner in Washington, DC

Firm Continues to Strengthen Forensic Accounting Expertise in Response to Heightened Regulatory Enforcement Actions

Washington, DC (October 11, 2016)StoneTurn Group (“StoneTurn”), a forensic accounting and expert services firm, today announced that experienced forensic accountant Howard Scheck has joined as a Partner based in the firm’s Washington, DC office.

Having previously held positions as Chief Accountant of the U.S. Securities and Exchange Commission’s Division of Enforcement and Partner in the Forensic practice of KPMG, Howard brings more than 25 years of experience in investigating financial reporting matters. He specializes in assisting counsel representing audit committees, public companies and audit firms in investigating accounting and auditing issues in response to SEC enforcement inquiries, internal whistleblower complaints and class action lawsuits. 

“Corporations and gatekeepers, including auditors, are facing inquiries and increasing enforcement actions from regulators,” said Deirdre Flaherty, StoneTurn co-founder and Partner in the Washington, DC office. “As we are deep in the trenches working with companies and their counsel on these matters, Howard’s knowledge, leadership and hands-on experience is tremendously valuable. We are excited for him to join our growing team.”

Over the course of his career, Howard has conducted numerous financial reporting investigations involving a multitude of accounting, internal controls, disclosure and auditing-related issues involving public companies (and audit firms) across many industries, including energy, financial services, pharmaceutical and telecommunications. In the private sector, Howard has led accounting and FCPA-related investigations for audit and special committees, has assisted counsel in defending public companies, their officers, directors and auditors involved in government investigations, and has assisted companies with assessing and enhancing anti-fraud and FCPA compliance programs and controls.

As the Chief Accountant in Enforcement, Howard oversaw the SEC’s accounting and auditing-related investigations and worked closely with the Office of the Chief Accountant and Division of Corporation Finance on such matters. As a SEC Branch Chief and enforcement attorney, he investigated accounting, FCPA, insider trading, market manipulation and offering fraud cases.

Prior to joining the SEC as Chief Accountant, Howard was a partner in the Forensic practice of another large public accounting firm and, earlier in his career, served in the audit practice for that firm.

Howard is a Certified Public Accountant, and a member of District of Columbia Bar and the American Institute of Certified Public Accountants.

About StoneTurn Group

StoneTurn provides forensic accounting and expert services to attorneys, corporations and government officials on a range of high-stakes legal and compliance issues.

StoneTurn was founded in 2004, on the premise of meeting clients’ fee constraints and demand for experts who value collaboration, prefer “hands-on” client service, and invest in long-term, trusted relationships. Our team includes former international public accounting firm partners, attorneys and industry alumni.

With professionals located in nine offices across the U.S. and U.K., and a network of senior advisers in numerous other countries, we provide expertise in: Complex Business Litigation, Compliance Controls & Monitoring, Forensic Accounting, Forensic Technology and Data Analytics, and Intellectual Property.

Media Contact:
Suzanne Hallberg
Zip Communications
+1 212 787 0169
shallberg@zip-comm.com

E-Mail Impersonation Scams Costing Billions, AICPA Warns

The FBI estimates that “business e-mail compromise” scams cost companies $3.1B globally. A new AICPA report warns accountants who work with foreign suppliers and execute wire transfers to foreign banks about the pitfalls of trusting e-mails that are designed to look as though they are sent from company executives.

In light of the AICPA report, Bloomberg BNA asked StoneTurn’s Simon Platt to comment on the importance of policies and compliance programs to train employees on how to appropriately respond.

Read the full article: “Email Impersonation Scams Costing Billions, AICPA Warns.”