Accounting Firm Advisory and Defense

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Gibson Dunn Distressed Banks Resource Center

Gibson Dunn has created a Distressed Banks Resource Center to provide resources and regular updates to our clients on recent bank failures.

Client Alert | March 14, 2023

Distressed Bank Update – A New Paradigm

Gibson Dunn's lawyers present the latest updates on news about distressed banks.

Client Alert | March 14, 2023

Gibson Dunn Accounting Firm Quarterly Update, Q4 2022

Our lawyers provide the latest news and analysis on topics relevant to accounting firms.

Client Alert | January 18, 2023

Gibson Dunn Accounting Firm Quarterly Update, Q3 2022

Gibson Dunn's lawyers address topics relevant to the world of accounting firms in this latest quarterly newsletter.

Client Alert | October 14, 2022

Gibson Dunn Accounting Firm Quarterly Update, Q2 2022

We are pleased to provide you with Gibson Dunn’s Accounting Firm Quarterly Update for Q2 2022. The Update addresses news on several topics of interest to auditors in complex accounting investigations and litigation.

Client Alert | July 14, 2022

James Farrell Named a Northeast Trailblazer

The American Lawyer named New York partner James Farrell a Northeast Trailblazer for his work as Co-Chair of the firm’s Accounting Firm Advisory and Defense Practice Group.

Firm News | June 1, 2022

Webcast: Managing Purchase Price Adjustment Disputes

In this recorded webcast, Gibson Dunn lawyers and an accounting expert examine purchase price adjustments in detail. The webcast includes discussions of the following: - A review of the issues that arise in negotiating purchase price adjustment provisions, and drafting tips for corporate counsel - A discussion of the common sources of post-closing adjustment disputes, and accountants’ views on how these disputes may be resolved - A litigator’s views on litigating purchase price adjustment disputes

Webcasts | May 10, 2022

Gibson Dunn Launches Accounting Firm Advisory and Defense Practice Group

Gibson, Dunn & Crutcher LLP is pleased to announce that the firm has launched a new industry group focused on the representation of accounting firms and their personnel worldwide.

Press Releases | January 11, 2022

PCAOB Adopts Final Rule on the Holding Foreign Companies Accountable Act

On September 22, 2021, the Public Company Accounting Oversight Board (PCAOB) adopted a final rule implementing the Holding Foreign Companies Accountable Act (HFCAA), which became law in December 2020 and prohibits foreign companies from listing their securities on U.S. exchanges if the company has been unavailable for PCAOB inspection or investigation for three consecutive years. 

Client Alert | September 30, 2021

2021 Mid-Year Securities Enforcement Update

Gibson Dunn lawyers look at the significant developments in securities enforcement from the first six months of 2021, and consider what to expect from new leadership at the U.S. Securities & Exchange Commission and the Enforcement Division.

Client Alert | July 20, 2021

China Constricts Sharing of In-Country Corporate and Personal Data Through New Legislation

Gibson Dunn's lawyers discuss how the People’s Republic of China is clamping down on the extraction of litigation- and investigation-related corporate and personal data from China - and how this may squeeze litigants and investigation subjects in the future.

Client Alert | June 17, 2021

Consequences of Wirecard Scandal: New Requirements for Corporate Governance and Audit of German Listed Companies

As a reaction to the spectacular collapse of Wirecard, a then-DAX-listed financial service provider, in June 2020, an Act on Strengthening the Financial Market Integrity (Finanzmarktintegritätsstärkungsgesetz – FISG) has now been adopted following several months of intense discussions.

Client Alert | June 7, 2021

New York Department of Financial Services Finalizes Confidential Supervisory Information Regulation

On April 7, 2021, the new regulation of the New York Department of Financial Services (NYDFS) governing confidential supervisory information (CSI) became effective in final form.  NYDFS has thus joined the Board of Governors of the Federal Reserve System (Federal Reserve) in making recent amendments to its approach to CSI.

Client Alert | April 21, 2021

2020 Year-End Securities Litigation Update

As part of a year-end update, Gibson Dunn lawyers highlight what you most need to know in securities litigation developments and trends for the second half of 2020.

Client Alert | February 16, 2021

Considerations for Preparing Your 2020 Form 10-K

Gibson Dunn lawyers offer their observations on new developments and recommended practices for calendar-year filers to consider in preparing their 2020 Form 10-K, including COVID-19-related disclosure issues.

Client Alert | February 3, 2021

2020 Year-End Securities Enforcement Update

In this update, Gibson Dunn lawyers look back at the significant enforcement actions and developments from the last six months of 2020, and consider what to expect from new leadership at the SEC.

Client Alert | January 19, 2021

2020 Mid-Year Securities Enforcement Update

Gibson Dunn lawyers review developments in securities regulatory and enforcement activity during the first half of 2020.

Client Alert | July 20, 2020

Protecting Client Privilege During UK Regulatory Investigations: A Cautionary Tale from the UK’s Audit Regulator

On June 10, 2020, Mr Justice Trower, sitting in the English High Court, handed down his judgment in A v B [2020] EWHC 1491 (Ch). The judgment addressed the treatment of privileged documents that had been disclosed to an auditor by their clients under a limited waiver, with a finding that it was for the auditors (and not their clients) to decide, objectively, if the relevant materials could be withheld on the grounds of privilege, or should be disclosed to the Financial Reporting Council.

Client Alert | June 25, 2020

Additional U.S. Public Company Disclosure Considerations Related to the Impact of COVID-19

Due to the ongoing assessment of the impact of COVID-19 on companies’ operations, liquidity and capital resources and overall economic and market conditions, companies should take special care in preparing for their quarterly reporting.

Client Alert | June 25, 2020

Key Considerations for Issuers and Auditors Regarding Going-Concern Analysis

Issuers in the United States and their auditors have related, but distinct, obligations to evaluate on a periodic basis whether there is substantial doubt about the issuer’s ability to continue as a going concern.[1]  In normal times, this evaluation, conducted with an appropriate level of diligence, results as to almost all major public companies in the conclusion that there is no substantial doubt about the entity’s ability to meet its obligations in the months to come. 

Client Alert | May 27, 2020

COVID-19 Update: Financial Reporting and Auditing Considerations for Corporate Management, Audit Committees, and Audit Firms

As the disruption caused by COVID-19 continues unabated, companies and their outside auditors are grappling with the financial reporting implications of the crisis.  There are numerous, immediate regulatory responses to the crisis that issuers should consider.

Client Alert | April 13, 2020

Perspectives from One Month into the COVID-19 U.S. Outbreak: Public Company Disclosure Considerations

In the midst of the constantly evolving landscape caused by the COVID-19 pandemic, U.S. publicly traded companies must continue to consider how the situation impacts their disclosures. Gibson Dunn lawyers provide observations and guidance for companies preparing disclosure in areas that are influenced by the outbreak.

Client Alert | April 9, 2020

Considerations for Preparing Your 2020 Proxy Statement

Gibson Dunn lawyers offer observations on new developments and recommended practices to consider in preparing the 2020 Proxy Statement.

Client Alert | February 4, 2020

2019 Year-End Securities Enforcement Update

Gibson Dunn lawyers review legislative, regulatory and litigation developments and trends in securities enforcement during 2019.

Client Alert | January 14, 2020

SEC Releases Statement on Key Reminders for Audit Committees

On December 30, 2019, the SEC released a statement addressing the role of the audit committee in financial reporting and highlighting key reminders regarding oversight responsibilities.

Client Alert | January 6, 2020

2019 Mid-Year Securities Enforcement Update

Gibson Dunn lawyers provide a comprehensive recap of the first half of 2019 in the realm of securities enforcement.

Client Alert | July 18, 2019

2018 Year-End Securities Enforcement Update

The Securities and Exchange Commission, like most federal agencies, ended 2018 with a whimper, not a bang. Most staffers were furloughed as part of the federal government shutdown, a note on the SEC homepage cautioning that until further notice only a limited number of personnel would be on hand to respond to emergency situations.

Client Alert | January 15, 2019

2018 Mid-Year Securities Enforcement Update

I. Significant Developments A. Introduction For a brief moment in time, after several years with as many as 3 of the 5 commissioner seats vacant, the SEC was operating at full force, with the January 2018 swearing in of newest commissioners Hester Peirce and Robert Jackson.

Client Alert | July 30, 2018

D.C. Circuit Holds That Witnesses in PCAOB Investigations Have the Right to a Technical Expert

On March 23, 2018, the U.S. Court of Appeals for the D.C. Circuit issued a unanimous opinion vacating an SEC order upholding sanctions issued by the Public Accounting Oversight Board against petitioner Mark E.

Client Alert | March 26, 2018

2017 Year-End Securities Enforcement Update

2017 was the prototypical transition year for the SEC. In contrast to many other federal agencies under the current administration, the new SEC leadership did not promise a wholesale rethinking of the agency's mandate.

Client Alert | January 10, 2018

SEC Staff Provides Important Guidance for Disclosure and Accounting Implications of the Tax Cuts and Jobs Act – Practical Considerations for Reporting Companies

On December 22, 2017, the SEC's Office of the Chief Accountant and Division of Corporation Finance issued important guidance that provides significant relief and helpful answers on some of the accounting and disclosure issues raised by the Tax Cut and Jobs Act, which was signed into law the same day.

Client Alert | December 26, 2017

SEC Proposes Amendments to Securities Regulations to Modernize and Simplify Disclosure

On October 11, 2017, the Securities and Exchange Commission (SEC) unanimously voted to propose amendments to modernize and simplify disclosure requirements for public companies, as well as investment advisers and investment companies.

Client Alert | October 13, 2017

2017 Mid-Year Securities Enforcement Update

The first half of 2017 was unusually quiet for the SEC's Division of Enforcement. This undoubtedly stemmed from the change in administration following the November election.

Client Alert | July 18, 2017

PCAOB Adopts New Model for Audit Reports

On June 1, 2017, the Public Company Accounting Oversight Board ("PCAOB" or "Board") moved ahead and adopted perhaps its most significant new standard since the Board's inception, setting requirements for significant additional disclosures in the auditor's report on an issuer's financial statements.

Client Alert | June 2, 2017

2016 Year-End Securities Enforcement Update

I. Overview A. Looking Back, Looking Forward Any attempt to assess the past six months is undeniably going to be overshadowed by what lies ahead. The change in administration is likely to be as tumultuous and unpredictable for the SEC as for any other federal agency, and the differences between the enforcement priorities under Chair Mary Jo White and Enforcement Division Director Andrew Ceresney and those of their successors may be more stark than other SEC transitions in recent years.

Client Alert | January 13, 2017

2016 Mid-Year Securities Enforcement Update

In the wake of a record-breaking 2015, the SEC's Division of Enforcement appeared to continue to initiate new matters at breakneck speed throughout the first half of 2016.

Client Alert | July 13, 2016

SEC Updates Guidance on Non-GAAP Financial Measures

On May 17, 2016, the Division of Corporation Finance of the Securities and Exchange Commission (the "Staff") issued new Compliance and Disclosure Interpretations (C&DIs) regarding the use of non-GAAP financial measures and revised existing C&DIs on the same topic.

Client Alert | May 19, 2016

PCAOB Again Issues Proposal to Change Audit Report

The Public Company Accounting Oversight Board ("PCAOB") recently re-proposed an audit standard to amend the form and content requirements for the independent auditor's report on financial statements.

Client Alert | May 18, 2016

2015 Year-End Securities Enforcement Update

From at least a numerical standpoint, 2015 was a particularly productive year for the Securities and Exchange Commission's Division of Enforcement. For the government fiscal year ended September 30, the SEC filed 807 enforcement actions, a 7% rise over fiscal 2014.

Client Alert | January 11, 2016

SEC Issues Concept Release Seeking Input on Enhanced Disclosures for Audit Committees

At an open meeting held on July 1, 2015, the Securities and Exchange Commission ("SEC") issued a concept release addressing the prospect of enhanced disclosures for audit committees.

Client Alert | July 7, 2015