Lynn Turner, Hemming Morse principal and former Securities and Exchange Commission chief accountant, provided expert witness testimony during the faceoff between MF Global Holdings Ltd. and PricewaterhouseCoopers LLP in federal court. Click the link below to find out more about the lawsuit and Lynn’s testimony in the Wall Street Journal article, “MF Global, PricewaterhouseCoopers Face Off as $3 Billion Malpractice Lawsuit Begins.”
Financial experts need to be aware of the risks of opining on legal matters. This article identifies those risks and provides insights for experts to respond, along with practical insight’s from the author’s recent experiences.
Hemming Morse, LLP is pleased to announce the elevation of manager’s Nathan Fan, Brian Repucci, Fausta Shuler, Judy Yip and Sacha Zadmehran to principal. All five are members of the firm’s Forensic and Financial Consulting Services Group and have been recognized for their ability to run complex cases, foster critical client relationships and demonstrate leadership. We look forward to partnering with our newly promoted principals in providing the exceptional service our clients have come to know and expect from us.
Mr. Fan’s experience includes accountant liability, accounting fraud, internal controls evaluation, intellectual property disputes, royalty audits and compliance, labor dispute and business interruption engagements. Mr. Fan is a Certified Public Accountant, Certified in Financial Forensics, and a Certified Fraud Examiner. Mr. Fan currently is the Chair of the Los Angeles section of Forensic Services and an At-Large member of the Accounting Principles and Attestation Services State Committee of the California Society of CPAs. He is based in the firm’s Los Angeles office.
Mr. Repucci has worked on a variety of litigation matters including lost profits/economic damages, construction disputes, fraud investigations, audit failures, internal controls evaluation, business interruption engagements and wage-and-hour claims. He is a member of the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants. Mr. Repucci is a Certified Public Accountant and Certified in Financial Forensics and is based in the firm’s Fresno office.
With over fifteen years of experience in forensic accounting, Ms. Shuler has worked on a variety of litigation matters concerning securities, due diligence, fraudulent conveyance and economic damages, focusing primarily on fraud investigations, money laundering and embezzlement. Her experience includes engagements involving institutions and enterprises in the areas of financial services, health insurance, manufacturing, non-profit entities, cities, and counties. She is also an adjunct professor at Golden Gate University where she teaches a section of the forensic accounting class to graduate students. Ms. Shuler is a Certified Fraud Examiner and works in the firm’s San Mateo office.
Ms. Yip holds over ten years of experience in litigation consulting and focuses primarily on wage and hour matters involving claims related to overtime, meal periods and rest breaks and off-the-clock work. She also assists with construction-related services, including construction cost engagements, disruption and delay claims and document discovery assistance. Ms. Yip is based in the firm’s San Mateo office.
Since joining Hemming Morse in 2005, Sacha Zadmehran has worked on numerous high-profile cases in the areas of business and intellectual property valuation, fraud investigation, alter ego analysis, securities litigation, accountants’ professional liability and economic damages involving a wide range of industries. He is also an adjunct professor at Golden Gate University where he teaches forensic accounting to graduate students. Mr. Zadmehran is a Certified Public Accountant and Accredited in Business Valuation. He is based in the firm’s San Francisco office.
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Hemming Morse expands its Los Angeles presence with the addition of six forensic accountants from financial and economic expert firm LitiNomics. The team includes Partners Christian Tregillis and David Callaghan, Principal Jeffrey Klein and Senior Advisor Lynn Turner.
“Los Angeles and Southern California have always been key markets for Hemming Morse and Chris and David and their team have established a reputation for great service here,” said Hemming Morse Managing Partner Greg McKinnon. “We have been assisting our clients for nearly 60 years, and the addition of this team helps ensure that tradition will continue. The timing of the expansion also coincides with the recent opening of our Irvine office, led by Principal Joe Emanuele.”
With a career spanning more than 25 years, Tregillis performs financial, economic, accounting, and valuation analyses and investigations, often in the context of disputes or transactions, including the negotiation of licensing agreements. Tregillis has testified as an expert witness in more than 80 matters, including before state and federal courts, as well as in arbitration proceedings. His prior experience includes serving as a partner at Deloitte & Touche. Holding Certified Public Accountant (CPA), Accredited in Business Valuation (ABV), Certified in Financial Forensics (CFF) and Certified Licensing Professional (CLP) certifications, Tregillis is a former chair of the Economic Damages Task Force of the American Institute of Certified Public Accountants (AICPA) and a past chair of the Economic Damages section of the California Society of CPAs (CalCPA). He earned his M.B.A. in finance and accounting from the University of Chicago (1993) and his A.B. in economics from Occidental College (1989).
“Hemming Morse is an established, well-respected firm. Our group has held their leadership in high esteem over the years and noted the well-grounded, thorough, and mindful approach the Hemming team has employed in their work for clients and in architecting an organization that supports its professionals and growth. We look forward to leading the charge as Hemming expands its footprint in Southern California, and we are excited to add to the depth and breadth of the firm’s high-caliber forensic accounting and financial and valuation experience,” said Tregillis.
Callaghan advises clients in a broad range of industries on matters related to financial investigations, mergers and acquisitions, forensic accounting, and bankruptcy and restructuring. With more than 20 years of experience, he focuses on evaluating accounting irregularities; Securities and Exchange Commission (SEC) and Department of Justice (DOJ) matters; financial fraud investigations; analyses of financial statement audits and complex accounting issues; financial statement restatements; acquisition disputes; pension plans; and internal and Audit Committee investigations. Callaghan has testified as an expert witness in domestic and international matters. He holds CPA and CFF credentials and is a member of the AICPA and CalCPA, where he serves as chair of the Fraud section. Callaghan earned his M.B.A. from the University of California, Los Angeles (2004) and his B.A. in business economics with an emphasis in accounting from the University of California, Santa Barbara (1993).
With more than 12 years of experience, Klein provides clients with financial advisory services related to accounting investigations, damages consultation, valuation services, and bankruptcy matters. He has testified as an expert witness in federal court and provided expert opinions related to allegations brought in state court. With engagements spanning a diverse set of industries, Klein has consulted on matters involving allegations of breach of contract, breach of fiduciary duty, fraud, patent infringement, trade secret misappropriation, copyright infringement, trademark infringement, and false advertising. Additionally, he has worked on numerous assignments involving complex accounting and valuation issues. His prior experience includes being a member of the Finance and Accounting Services Group at Deloitte & Touche. Klein is a CPA and is a member of the AICPA’s Forensic & Litigation Services Damages Task Force, while also being a member of the State Bar of California. Attending a joint degree program, he earned his J.D. from the University of California, Los Angeles School of Law and his M.B.A. from the Anderson School of Management at the University of California, Los Angeles (2002). He earned his B.A. in economics from the University of California, San Diego (1995).
With nearly 40 years of dedicated business, regulatory, corporate governance and academic experience related to forensic accounting, Turner focuses on complex investigations involving financial reporting, corporate governance, securities litigation, accountant liability and technical accounting matters. He has testified as an expert witness on financial reporting requirements, financial statement audits, corporate governance standards, and economic risk in federal and state courts and before Congress. Formerly the chief accountant for the SEC, Turner was the principal advisor to the SEC chairman and commission on auditing and financial reporting and corporate governance matters. He also spent 20 years with Coopers & Lybrand (now PricewaterhouseCoopers). Turner has served on the boards of public companies and is currently the trustee of a $45 billion pension fund. He is a CPA and frequently speaks on financial reporting, securities and governance topics. Turner is a member of the Investors Advisory Group of the Public Company Accounting Oversight Board (PCAOB), the Colorado Public Employees Retirement Association (COPERA) Board and Audit Committee, the Colorado Society of Certified Public Accountants (CSCPA), and the AICPA. He earned his M.A. in accounting from the University of Nebraska (1976) and his B.A. in business administration with a concentration in accounting from Colorado State University (1975).
Also joining Hemming Morse from LitiNomics are Manager Rachel Hennessy and Associate Chelsea Meyer. To accommodate this substantial growth, Hemming Morse’s Los Angeles office has taken additional office space at 725 South Figueroa St.
In the February 19, 2016 issue of the San Francisco Business Times, focused on accounting and accounting firms, Forensic and Financial Consulting Services Partner Greg Regan offered his insights on how firms can expand beyond traditional services and offer increased value to their clients. Commenting on Hemming Morse’s recognition of the need for increased data analytics capabilities, Regan noted, “In the past, a big forensic accounting project might have involved the analysis of 1 million transactions. Now, with more computing power available to companies, such a project might involve analysis of 100 million transactions. It’s just not possible to analyze anywhere close to that. But computing power can filter documents down to a manageable amount.” The article also highlights services such as cybersecurity, consulting and robotics.
Read the full article here. (subscription required)
Hemming Morse announces that Partner David Grisham (San Francisco) and Manager Nathan Fan (Los Angeles) have completed the California Society of Certified Public Accountants’ (CalCPA) Leadership Institute. Grisham and Fan join several past Hemming Morse Leadership Institute graduates, including Partners Travis Armstrong and Greg Regan, Principal Jodie Rolih and Managers Brian Repucci and Tatyana Shtyrkova.
CalCPA’s Leadership Institute provides members instruction on the specific skills necessary to grow into future leadership positions at CalCPA and in the profession more broadly. Participants grow as volunteers and businesses leaders and focus on improving leadership behavior, critical thinking and management skills. The class of 2015-16 was recently honored at the January CalCPA Council meeting.
“Hemming Morse has a rich tradition of fostering personal and career growth among our team members, as we know industry and community leadership skills translate to well-rounded professionals who provide the highest level of client service,” said Hemming Morse Managing Partner Greg McKinnon. “Congratulations to David and Nathan on this accomplishment!”
Grisham, who holds Certified Public Accountant (CPA) and Certified in Financial Forensics (CFF) credentials, has substantial forensic accounting experience in the areas of securities litigation, lost profits analyses, fraud investigations and SEC investigations. He has participated in the investigation of many complex litigation matters involving entities as diverse as commercial construction, high-tech, governmental, retail, financial institutions, petroleum and insurance. In addition to his participation in CalCPA’s Leadership Institute, Grisham serves on the Board of Directors of the organization’s San Francisco Chapter, where he is currently second vice president and will become first vice president in May, and is a state council member and member of the Economic Damages Section. He is a member of the American Institute of Certified Public Accountants (AICPA) and Construction Financial Management Association. Grisham’s additional community and industry involvements include serving on the Accounting Advisory Board at Menlo College and being an adjunct professor at Golden Gate University. He earned his B.S. in Accounting from San Jose State University (1986).
Maintaining CPA, CFF and Certified Fraud Examiner (CFE) credentials, Fan’s litigation consulting experience includes matters involving accounting principles, securities litigation, accountants’ professional liability, auditor malpractice, intellectual property disputes, business interruption claims and fraud examinations spanning a wide range of industries. He has also performed complex studies involving lost profit and reasonable royalty calculations, incremental profit analysis, product line profitability and evaluation of internal controls processes and documentation. In addition to his participation in CalCPA’s Leadership Institute, Fan is chair of the organization’s Los Angeles Chapter of the Forensic and Valuation Services Section and an at-large member of the Accounting Principles and Attestation Standards (AP&AS) statewide technical committee. He is also a member of the AICPA’s Forensic and Valuation Services Section, from which he was recently recognized with a “Standing Ovation” honor. Fan earned his B.A., with honors, from the University of California, Berkeley (2002).
Hemming Morse announces the election of Travis P. Armstrong to the partnership. Armstrong was previously a manager in the firm’s Forensic and Financial Consulting Services Group.
“Welcoming Travis to the partnership is a well-deserved honor, said Managing Partner Greg McKinnon. “His dedication to client service, our industry and the community have gone above and beyond, and we look forward to his continued growth in this exciting position. Travis is a true asset to our clients and firm as a whole.”
Holding Certified Public Accountant (CPA), Certified in Financial Forensics (CFF) and Certified Fraud Examiner (CFE) credentials, Armstrong assists clients on cases in the areas of securities litigation, economic damages and the Foreign Corrupt Practices Act (FCPA), in addition to performing forensic accounting and fraud investigations for a range of businesses and nonprofits. His experience includes financial and accounting analyses associated with the restatement of quarterly and annual reports, management of complex economic damage models associated with breach of contract, intellectual property, antitrust and false claims litigation, and FCPA due diligence and compliance testing for multi-national corporations in various foreign countries. Additionally, Armstrong has been engaged by government agencies to perform forensic accounting investigations in various industries, most notably, for-profit higher education.
Active in his industry and community, Armstrong is a member of the American Institute of Certified Public Accountants’ (AICPA) Forensic Valuation Section Case Law Task Force, and serves as the vice chair of the California Society of Certified Public Accountants’ (CalCPA) Forensic Services Section – Economic Damages. He also serves on the Board of Directors of the Legal Aid of Marin. Armstrong earned his B.A. from the University of California, Santa Barbara (2006).
Travis Armstrong, Nathan Fan and Tatyana Shtyrkova Recognized by “Standing Ovation” Program at AICPA Forensic & Valuation Services Conference
Hemming Morse congratulates Managers Travis Armstrong (San Francisco), Nathan Fan (Los Angeles) and Tatyana Shtyrkova (San Francisco) for their recent “Standing Ovation” honors from the American Institute of Certified Public Accountants (AICPA). Recognizing Certified Public Accountants (CPAs) age 40 years old or younger in various specialty credential areas, the inaugural program singled out 32 honorees at the AICPA’s Forensic & Valuation Services (FVS) Conference in Las Vegas in November.
Looking to highlight young CPAs who exhibit outstanding professional achievement, Standing Ovation program requirements for nomination in the FVS specialty area include maintaining an active CPA license, being an AICPA member in good standing and holding the Certified in Financial Forensics (CFF) and/or Accredited in Business Valuation (ABV) credential.
“We are very proud of Travis, Nathan and Tatyana for this well-earned recognition. They continue to be integral members of our team, providing the highest level of client service and taking on leadership roles within our industry,” said Managing Partner Greg McKinnon.
“The AICPA created the Standing Ovation program to recognize the rising stars who have gone above and beyond in specialty areas,” said Jeannette Koger, CPA, Chartered Global Management Accountant (CGMA), and AICPA’s vice president of member specialization and credentialing. “These accomplished young professionals in the areas of forensic accounting and business valuation are well on their way to becoming leaders in our profession.”
Holding CPA, CFF and Certified Fraud Examiner (CFE) credentials, Armstrong’s experience includes assisting clients on cases in the areas of securities litigation, accountants’ professional liability, economic damages and the Foreign Corrupt Practices Act (FCPA), as well as performing forensic accounting and fraud investigations for a range of businesses and nonprofits. In addition to being a member of AICPA’s FVS Case Law Task Force, Armstrong is the vice chair of the California Society of Certified Public Accountants’ (CalCPA) Forensic Services Section – Economic Damages. He also serves on the Board of Directors of the Legal Aid of Marin. He earned his B.A. from the University of California, Santa Barbara (2006).
Maintaining CPA, CFF and CFE credentials, Fan’s litigation consulting experience includes matters involving accounting principles, securities litigation, accountants’ professional liability, auditor malpractice, intellectual property disputes, business interruption claims and fraud examinations spanning a wide range of industries. He has also performed complex studies involving lost profit and reasonable royalty calculations, incremental profit analysis, product line profitability and evaluation of internal controls processes and documentation. In addition to his membership in AICPA’s FVS Section, Fan is a member of the Association of Certified Fraud Examiners (ACFE) and CalCPA, where he is chair of the Los Angeles Chapter of the Forensic and Valuation Services Section, an at-large member of the Accounting Principles and Attestation Standards (AP&AS) state-wide technical committee, and currently participating in the Leadership Institute. He earned his B.A., with honors, from the University of California, Berkeley (2002).
Shtyrkova, who maintains CPA and CFF credentials and has passed the ABV exam, assists clients across a wide variety of industries on matters including, securities litigation, FCPA, accountants’ professional liability and auditor malpractice, large data analyses and general damages. In addition to her membership in AICPA’s FVS Section, she is a member of the Bar Association of San Francisco (BASF) and CalCPA. Shtyrkova’s involvement in CalCPA includes serving on the Board of Directors for the San Francisco Chapter, where she is the local chair of the AP&AS state-wide technical committee, as well as a member of and mentor for the Scholarship Committee. Shtyrkova also holds the CGMA designation from AICPA and is a graduate of CalCPA’s Leadership Institute. She earned her B.A. from the University of California, Santa Barbara (2008).