When it comes to the accounting and auditing enforcement landscape, regulators such as the SEC and DOJ aim to hold not only corporations, but also individuals, accountable for financial reporting. Similarly, auditors are seen as primary gatekeepers in the financial reporting environment and are held accountable as such.
StoneTurn brings a team of forensic accounting experts including former senior regulators, such as the former Chief Accountant for Enforcement of the SEC, former leaders of major accounting firms, and seasoned forensic accountants, who are credible and trusted by independent auditors and regulators.
Our team assists audit committees in conducting independent SEC accounting investigations. We aid public companies, officers, and directors in defending financial reporting misconduct allegations, as well as independent auditors alleged to have violated professional standards. We work closely with government agencies and regulators to decipher facts in instances of wrongdoing and support inquiries into potential misconduct. StoneTurn’s team provides strategic advice to enable counsel to respond and achieve the best outcomes.
Chambers
Forensic Accountants,
Bands 1 and 2 (U.S. and U.K.-wide)
GIR 100
Global Investigations Review
How We Help
Uncovering the Full Picture
StoneTurn’s accounting experts, alongside counsel, design and execute a strategic and practical fact-finding plan to understand whether entities complied with applicable accounting and auditing standards. We have experience investigating a wide range of financial reporting issues including earnings management (e.g., revenue and expense recognition), complex accounting issues (e.g., derivatives, income taxes), and disclosure issues (e.g., MD&A and non-GAAP measures).
We help companies assess potential accounting errors or standards violations, materiality, and options for revising or restating financial statements. We also assess the accuracy of disclosures and any material weaknesses in internal controls or disclosure controls and procedures.
Delivering Analysis and Insights
As part of our investigations, we seek to analyze the facts, present our findings in full context, and provide practical, strategic advice on navigating the path forward. StoneTurn’s experts present these findings and our recommendations to counsel, audit committees, public companies, accounting firms, and individuals. Based on our investigative work and analyses, we work closely with counsel in developing reports to present to the SEC, DOJ, PCAOB, and other regulatory agencies. We have experience preparing presentations, accounting and auditing whitepapers, Wells submissions, and, if applicable, expert submissions. In litigated matters, we serve as expert witnesses, submit expert reports, and testify in proceedings.
Driving Credible Outcomes
StoneTurn’s accounting experts have helped companies navigate unpredictable investigations that resulted in less onerous consequences. Similarly, we have been successful in raising supportable defenses that have limited exposure, often with declinations for charges and settlements that have been favorable for our clients. Additionally, our team has worked with regulators and government agencies to develop a more complete narrative and set of facts when examining possible wrongdoing.
