Alison Forman has greater than seventeen years of expertise consulting on monetary accounting, monetary reporting, and auditing points arising in advanced litigation, regulatory enforcement, and company investigations. She additionally has expertise in issues involving common damages, antitrust, and securities fraud for corporations in a variety of industries. She has labored with testifying specialists and has consulted with attorneys in all phases of litigation, together with mediation and trial.
Accounting and Auditor Legal responsibility
Ms. Forman has suggested counsel and labored with testifying specialists to handle all kinds of Usually Accepted Accounting Rules (GAAP) compliance points. She has addressed income recognition, honest worth measurements, asset impairments, derivatives, contingent liabilities, discontinued operations, and transfers of monetary property. Ms. Forman has ready professional forma monetary statements, assessed materiality, and evaluated the adequacy of disclosures contained in Securities and Change Fee (SEC) filings. She has directed analysis in distinguished securities class actions, together with In re Williams Securities Litigation and In re Omnicom Securities Litigation.
Ms. Forman’s experience contains evaluating whether or not audit and evaluation procedures complied with Usually Accepted Auditing Requirements (GAAS) and Public Firm Accounting Oversight Board (PCAOB) requirements. She has addressed a variety of auditor legal responsibility points within the context of litigation, and issues involving state boards of accountancy, the SEC, and the PCAOB. Points addressed embrace the tasks of administration and auditors; the character, scope, and objective of an audit or quarterly evaluation; the planning and execution of monetary assertion audits; the effectiveness of audits of inner controls over monetary reporting; auditors’ tasks concerning fraud; and required communications with administration and the board.
Ms. Forman additionally has intensive expertise in monetary establishments issues together with these involving mortgage-backed securities (MBS), banks and thrifts, subprime lenders, bank card issuers, and life insurance coverage corporations. She has addressed many points, together with:
Misplaced revenue damages;
The influence of the credit score disaster on a financial institution’s mortgage portfolio;
Lending practices, together with mortgage structuring, mortgage monitoring, due diligence, and managing drawback loans;
Mortgage loss allowances; and
Representations and warranties associated to MBS choices.