forensic cle booklet

A HERITAGE OF EXCELLENCEA FOCUS ON RESULTS

A PARTNER FOR SUCCESS

Continuing LegaL eduCationContinuing LegaL eduCation

HandBooK

Fraud and ForensiC

Litigation support serviCes

Welcome to the Sobel & Co. Continuing Legal Education (CLE) Handbook. We have prepared this document to give you easy and efficient access to our full menu of New Jersey CLE accredited programs. We know your time is valuable and so it is our goal to take away the guess work in this process by providing the details you need to understand the topics, the learning outcomes and to gain some familiarity with our presenters. We have assembled a balanced mix of programs, each designed to add value to your firm, your individual partners and your associates based on their needs and experiences. We will be happy to deliver the CLE at no cost, during a time that is most convenient for you, including breakfast or lunch meetings. Please feel free to browse through this booklet and call 973-994-9494 with any questions or to schedule a CLE presentation for your firm. We look forward to working with you. Darryl S. Neier Rebecca B. Fitzhugh Principal-in-Charge Partner

Christopher W. Young Director



TABLE OF CONTENTS

List of Presentations

Synopsis of Content

Introduction to the Presenters

Enrollment Information

LIST OF PRESENTATIONS

I. Understanding Financial Statements II. Financial Statement Fraud III. What Happens When the FBI Comes Knocking:

A Case Study for In-House Counsel and Exter-nal Alternatives

IV. Carolina Wilderness Outfitters: Case Study - “How Would You Advise Your

Clients?” V. Protecting Your Clients from Fraud VI. Best Practices for Working with Experts VII. The Top 10 Valuation Mistakes Every Attorney

Should Know About VIII. Valuation 101 IX. Commercial Damages 101 X. Strategic Marketing and Business Development XI. Building a Personal Brand XII. Networking: The Art of Building Powerful Rela-

tionships XIII. Customized CLE Programs

A HERITAGE OF EXCELLENCEA FOCUS ON RESULTSA PARTNER FOR SUCCESS

TABLE OF CONTENTS

List of Presentations

Synopsis of Content

Introduction to the Presenters

Enrollment Information

LIST OF PRESENTATIONS

I. Understanding Financial Statements II. Financial Statement Fraud III. What Happens When the FBI Comes Knocking:

A Case Study for In-House Counsel and Exter-nal Alternatives

IV. Carolina Wilderness Outfitters: Case Study - “How Would You Advise Your

Clients?” V. Protecting Your Clients from Fraud VI. Best Practices for Working with Experts VII. The Top 10 Valuation Mistakes Every Attorney

Should Know About VIII. Valuation 101 IX. Commercial Damages 101 X. Strategic Marketing and Business Development XI. Building a Personal Brand XII. Networking: The Art of Building Powerful Rela-

tionships XIII. Customized CLE Programs



SYNOPSIS OF CONTENT

I. Understanding Financial Statements Attorneys need to have a realistic financial picture of their clients’

business situation but often they do not understand the nuances presented in a financial statement. This presentation takes the audience step-by-step through a sample financial statement explaining the categories, the numbers and the implications.

II. Financial Statement Fraud The follow-up to the preceding presentation, this program offers a

deeper dive into a financial statement with the intent to identify areas where fraud may be lurking. Using examples of historic financial statement frauds, attendees will learn where to look for clues as they understand where the red flags are hidden.

III. What Happens When the FBI Comes Knocking This presentation is designed for both in-house and external

counsel, providing insights gained from a real-world investigation and the appropriate behavior taken to help a company minimize the impact of a potentially damaging situation.

IV. Carolina Wilderness Outfitters The Carolina Wilderness Outfitters Case Study explores potential

material fraud and a potential wrongful termination issue at a fictitious public company. The case is designed to facilitate a discussion about what steps to take as counsel to this company.

We will utilize this case study to work through how our internal

and/or external counsel would provide guidance in this case. V. Protecting Your Clients from Fraud By some estimates, businesses lose as much as five percent of

their revenue every year to fraud - but simple steps could help prevent that.

We will discuss tools and strategies that lawyers and/or clients

can use to mitigate fraud risks. VI. Best Practices for Working with Experts After a litigation team makes the decision that expert testimony is

required, what are the next steps? Experts can be used in either a testifying or consulting role.

In forming a team, some experts may be more suited to

developing a trial strategy, but may not be effective in front of a jury. This CLE will provide you with some of the best practices related to selecting and working with experts.

VII. The Top 10 Valuation Mistakes Every Attorney Should

Know About This presentation is tailored to attorneys who have a need for

valuation services in their practice. Participants will learn about the major errors that are so common in valuation reports. Following the presentation, participants will be able to identify potential errors before it is too late.


VIII. Valuation 101 This presentation is tailored to the attorney who is new to

valuation services and/or who needs a quick refresher on the important aspects of a valuation report. Upon completion of the presentation, the attorney will be able to identify the common valuation methodologies, know how to calculate a growth rate and discount rate, and be able to think about discounts for lack of control and marketability.

IX. Commercial Damages 101 This presentation is tailored to the attorney who is new to

complex and simple commercial damage cases and/or who needs a quick refresher on the important aspects of a damages report. Upon completion of the presentation, the attorney will be able to identify the acceptable commercial damage methods, will understand the concept of reliability, certainty and foreseeability and will also understand how experts approach mitigation in damage claims.

X. Strategic Marketing and Business Development This program will review how a law firm can write and implement a

marketing plan that can help it increase visibility, enhance its reputation and build a robust pipeline of new business based on a strategic approach to marketing.

XI. Building a Personal Brand Both seasoned lawyers and rising stars can benefit from learning

how to become “slightly famous” in their niche markets. When viewed as the expert, attorneys can distinguish themselves more effectively and grow their practice areas more consistently.

XII. Networking: The Art of Building Powerful Relation-

ships One of the most important ways to grow and sustain a powerful

practice area is through building and nurturing strategic relationships, creating word of mouth momentum to develop a strong network of meaningful connections. This presentation will provide tips and proven suggestions for improving the attorney’s networking skills.

XIII. Customized Programs At Sobel & Co., we have experts in the fields of nonprofit, audit,

tax, estate and trust, and employee benefit plans. Please contact us to develop a customized CLE program for your firm.


INTRODUCTION TO THE PRESENTERS

Darryl S. Neier, MS, CFE

Fraud & Forensic Accounting/ Litigation Support Services Rebecca B. Fitzhugh, CPA/CFF, CFE, CIT, CIGA

Fraud & Forensic Accounting/ Litigation Support Services Christopher W. Young, Ph.D.

Valuation and Commercial Damages Consulting Group Sally Glick, MBA

Chief Growth Strategist


He has been qualified as an expert in New Jersey Superior Court, in addition to being court appointed as a forensic accountant. Darryl is a member of the Association of Certified Fraud Examiners, where he obtained his certification in addition to sitting on the Board of Directors of the NJ Chapter. He is also a member of the National White Collar Crime Center, where he is a contributing author to the “Financial Records Examination and Analysis” text book used to teach advanced fraud classes throughout the country. Darryl is a Trustee of the Morris County Bar Association Foundation and currently serves as the chair of the PKF Fraud & Forensics Community of Practice. Darryl is also highly decorated, having received commendations from the Morris County Prosecutor’s Office, the Federal Bureau of Investigation, and the United States Secret Service. Darryl holds a Master of Science degree in Economic Crime Management from Utica College of Syracuse University and a Bachelor of Science degree in Accounting from William Paterson University.

Fraud


DARRYL S. NEIER, MS, CFE Darryl Neier, Principal of the Firm, is in charge of Fraud & Forensic Accounting/Litigation Support Services. Since 2010, Darryl has served on the firm’s Executive Committee. He holds this role because of the unique experiences he brings to the firm. Having spent 20 years with the Morris County, New Jersey Prosecutor’s Office, retiring as a Detective Sergeant, Darryl has been involved in the detection and prevention of fraud in a variety of situations and cases. Darryl’s reputation as an expert in this field is widely recognized. He has worked on cases that include white collar crime investigation, money laundering, insurance fraud, political corruption and computer forensic investigation. Since joining Sobel & Co., Darryl has been involved in domestic and international engagements involving forensic accounting (criminal and civil fraud investigations, integrity and compliance monitoring, financial institutions and shareholder disputes; fraud vulnerability studies; lost profits calculation; damage claim analysis; asset recovery; due diligence review; discovery production; intellectual property investigations; anti-money laundering compliance and expert witness testimony). Darryl is a faculty member at New York University and is a certified instructor with the National White Collar Crime Center. In 2004, Darryl was appointed as a national committee member to the Technical Working Group (“TWG”) for Education in Fraud and Forensic Accounting to develop a model curriculum to aid academic institutions, forensic, and law enforcement agencies. The TWG was funded by a grant from the National Institute of Justice, Office of Justice Programs, U.S. Department of Justice. He has lectured extensively throughout the United States to federal, state, and law enforcement agencies and other regulatory bodies. Darryl is also a frequent speaker at national conferences lecturing on a variety of forensic accounting and investigative topics. He is trained in advanced computerized analytic methods, money laundering, disaster and insurance fraud, financial investigative analysis and computer crimes, and has given testimony for a variety of high-profile cases during his career.

He has been qualified as an expert in New Jersey Superior Court, in addition to being court appointed as a forensic accountant. Darryl is a member of the Association of Certified Fraud Examiners, where he obtained his certification in addition to sitting on the Board of Directors of the NJ Chapter. He is also a member of the National White Collar Crime Center, where he is a contributing author to the “Financial Records Examination and Analysis” text book used to teach advanced fraud classes throughout the country. Darryl is a Trustee of the Morris County Bar Association Foundation and currently serves as the chair of the PKF Fraud & Forensics Community of Practice. Darryl is also highly decorated, having received commendations from the Morris County Prosecutor’s Office, the Federal Bureau of Investigation, and the United States Secret Service. Darryl holds a Master of Science degree in Economic Crime Management from Utica College of Syracuse University and a Bachelor of Science degree in Accounting from William Paterson University.

Fraud



DARRYL S. NEIER, MS, CFE Darryl Neier, Principal of the Firm, is in charge of Fraud & Forensic Accounting/Litigation Support Services. Since 2010, Darryl has served on the firm’s Executive Committee. He holds this role because of the unique experiences he brings to the firm. Having spent 20 years with the Morris County, New Jersey Prosecutor’s Office, retiring as a Detective Sergeant, Darryl has been involved in the detection and prevention of fraud in a variety of situations and cases. Darryl’s reputation as an expert in this field is widely recognized. He has worked on cases that include white collar crime investigation, money laundering, insurance fraud, political corruption and computer forensic investigation. Since joining Sobel & Co., Darryl has been involved in domestic and international engagements involving forensic accounting (criminal and civil fraud investigations, integrity and compliance monitoring, financial institutions and shareholder disputes; fraud vulnerability studies; lost profits calculation; damage claim analysis; asset recovery; due diligence review; discovery production; intellectual property investigations; anti-money laundering compliance and expert witness testimony). Darryl is a faculty member at New York University and is a certified instructor with the National White Collar Crime Center. In 2004, Darryl was appointed as a national committee member to the Technical Working Group (“TWG”) for Education in Fraud and Forensic Accounting to develop a model curriculum to aid academic institutions, forensic, and law enforcement agencies. The TWG was funded by a grant from the National Institute of Justice, Office of Justice Programs, U.S. Department of Justice. He has lectured extensively throughout the United States to federal, state, and law enforcement agencies and other regulatory bodies. Darryl is also a frequent speaker at national conferences lecturing on a variety of forensic accounting and investigative topics. He is trained in advanced computerized analytic methods, money laundering, disaster and insurance fraud, financial investigative analysis and computer crimes, and has given testimony for a variety of high-profile cases during his career.


REBECCA B. FITZHUGH, CPA/CFF, CFE, CIT, CIGA Rebecca is a Partner in Fraud & Forensic Accounting/Litigation Support Services at Sobel & Co. It is her more than sixteen years of experience in the practice of public accounting and her diverse background, including fraud examination and marketing communications, that gives her a unique viewpoint from which she is able to serve a variety of clients as a trusted advisor. Rebecca joined Sobel & Co. in 2001 in the audit department, but was asked to join the forensic team because her strong technical skills complemented their investigative approach. Rebecca’s litigation and forensic accounting experience includes construction integrity monitoring, governmental compliance reviews, contract disputes, shareholder disputes, bank fraud and white collar crime. Rebecca is a Certified Public Accountant licensed in New Jersey, is Certified in Financial Forensics by the AICPA, is a Certified Fraud Examiner, and a Certified Inspector General Auditor. She is a member of the American Institute of Certified Public Accountants, the New Jersey Society of Certified Public Accountants, the Association of Certified Fraud Examiners, Association of Inspectors General, and the Morris County Chamber of Commerce. Rebecca was named a "Woman of Note" by the New Jersey Society of CPAs in 2012. She is a board member and treasurer of Partners for Women and Justice. Rebecca served as an adjunct faculty member at New York University, teaching an exam review course for the Certified Fraud Examiner credential. She has lectured on topics ranging from fraud in the construction industry and in financial statements to identity theft. Rebecca has a responsibility as a mentor and leader at Sobel & Co., including acting as chairperson for the Fun Committee, which contributes significantly to maintaining the firm’s unique team focused culture, and its philosophy of combining hard work and good times together.

Rebecca earned a Bachelor of Arts degree in Political Science from Union College and a Master of Business Administration degree at the State University of New York at Binghamton.

Forensic Accounting



REBECCA B. FITZHUGH, CPA/CFF, CFE, CIT, CIGA Rebecca is a Partner in Fraud & Forensic Accounting/Litigation Support Services at Sobel & Co. It is her more than sixteen years of experience in the practice of public accounting and her diverse background, including fraud examination and marketing communications, that gives her a unique viewpoint from which she is able to serve a variety of clients as a trusted advisor. Rebecca joined Sobel & Co. in 2001 in the audit department, but was asked to join the forensic team because her strong technical skills complemented their investigative approach. Rebecca’s litigation and forensic accounting experience includes construction integrity monitoring, governmental compliance reviews, contract disputes, shareholder disputes, bank fraud and white collar crime. Rebecca is a Certified Public Accountant licensed in New Jersey, is Certified in Financial Forensics by the AICPA, is a Certified Fraud Examiner, and a Certified Inspector General Auditor. She is a member of the American Institute of Certified Public Accountants, the New Jersey Society of Certified Public Accountants, the Association of Certified Fraud Examiners, Association of Inspectors General, and the Morris County Chamber of Commerce. Rebecca was named a "Woman of Note" by the New Jersey Society of CPAs in 2012. She is a board member and treasurer of Partners for Women and Justice. Rebecca served as an adjunct faculty member at New York University, teaching an exam review course for the Certified Fraud Examiner credential. She has lectured on topics ranging from fraud in the construction industry and in financial statements to identity theft. Rebecca has a responsibility as a mentor and leader at Sobel & Co., including acting as chairperson for the Fun Committee, which contributes significantly to maintaining the firm’s unique team focused culture, and its philosophy of combining hard work and good times together.

Dow Jones, and CFO and Vice President of Operations (Wealth Management Division), Thomson Reuters. Currently, Chris is a Professor of Management at Rutgers University’s School of Business and previously an award-winning Professor at Seton Hall University. Chris lectures and writes research in business ethics, business strategy, economics, sociology and political economy, with a focus on the market for cultural goods.

Valuation and Commercial Damages


CHRISTOPHER W. YOUNG, Ph.D. Chris Young, Director of the Valuation and Commercial Damages Consulting Group, joined Sobel & Co. in September 2012, bringing a distinguished résumé which included more than 18 years of expertise in all aspects of corporate finance (M&A, private fundraising, public fundraising, project finance, captive leasing, venture capital), strategy, particularly in media, financial and economic services and healthcare and economics. In addition, Chris had real world experience in starting and managing small technology and information service companies, as well as managing large public companies, with particular experience in managing complex media and information service organizations with global revenue up to $600 million. This atypical combination of analytical and financial rigor and creative thinking enables Chris to serve the firm’s clients with a range of services: valuing business entities for purposes of private sale or purchase transactions, statutory requirements, estate planning, tax and matrimonial issues, intellectual property, shareholder disputes and related matters; calculating and assessing commercial damages; providing expert witness testimony; and conducting economic and statistical public policy research for municipalities, counties, states, think-tanks, and law firms. As the Sobel & Co. Director of Valuation and Commercial Damages Consulting Group, Chris draws on his strengths in corporate finance, building and leading successful teams, identifying, executing and integrating M&A transactions, large ticket - solution selling and business development, meeting deadlines and presenting to large and small audiences, valuation and economic analysis to address the needs of clients in these key areas. Chris held many prestigious positions prior to joining Sobel & Co. including Managing Director Investment Banking, Berkery, Noyes & Co., LLC, Global Director – Strategy, Financial Institutions Group,

Dow Jones, and CFO and Vice President of Operations (Wealth Management Division), Thomson Reuters. Currently, Chris is a Professor of Management at Rutgers University’s School of Business and previously an award-winning Professor at Seton Hall University. Chris lectures and writes research in business ethics, business strategy, economics, sociology and political economy, with a focus on the market for cultural goods.

Valuation and Commercial Damages



CHRISTOPHER W. YOUNG, Ph.D. Chris Young, Director of the Valuation and Commercial Damages Consulting Group, joined Sobel & Co. in September 2012, bringing a distinguished résumé which included more than 18 years of expertise in all aspects of corporate finance (M&A, private fundraising, public fundraising, project finance, captive leasing, venture capital), strategy, particularly in media, financial and economic services and healthcare and economics. In addition, Chris had real world experience in starting and managing small technology and information service companies, as well as managing large public companies, with particular experience in managing complex media and information service organizations with global revenue up to $600 million. This atypical combination of analytical and financial rigor and creative thinking enables Chris to serve the firm’s clients with a range of services: valuing business entities for purposes of private sale or purchase transactions, statutory requirements, estate planning, tax and matrimonial issues, intellectual property, shareholder disputes and related matters; calculating and assessing commercial damages; providing expert witness testimony; and conducting economic and statistical public policy research for municipalities, counties, states, think-tanks, and law firms. As the Sobel & Co. Director of Valuation and Commercial Damages Consulting Group, Chris draws on his strengths in corporate finance, building and leading successful teams, identifying, executing and integrating M&A transactions, large ticket - solution selling and business development, meeting deadlines and presenting to large and small audiences, valuation and economic analysis to address the needs of clients in these key areas. Chris held many prestigious positions prior to joining Sobel & Co. including Managing Director Investment Banking, Berkery, Noyes & Co., LLC, Global Director – Strategy, Financial Institutions Group,

Sally writes a Marketer's Blog for CPAs that can be found at www.accountingweb.com as well as authoring a Business Blog for middle market companies across all industries which is accessed through our home page at www.sobel-cpa.com.

CLE Accredited Programs


SALLY GLICK, MBA Sally Glick is a Principal of the Firm and Chief Growth Strategist at Sobel & Co, LLC, bringing the firm the experience and insights she has gained during her 30+ years in the profession. She has spent her career working as a marketing consultant assisting a wide range of CPA firms across the country. At Sobel & Co. she has responsibility for the firm’s marketing communications and its focus on business development. Sally was named Accounting Marketer of the Year for 2003 and served as the President of the Board of Directors of the Association for Accounting Marketing (AAM) in 2004. She has also been listed on Accounting Today’s list of Top 100 Most Influential People in Accounting for 2004, 2005 and 2006 and was voted into the AAM Hall of Fame in 2007. She was selected by NJBIZ as one of their Top 50 Women in Business for 2008 and in 2010, Sally was selected by Garden State Woman Magazine as the Woman of the Year in the Professional Services category. In 2014, she was one of the Top 25 Women of Influence in the United States by Practice Advisor. Sally serves on the boards of a variety of business and community groups including Commerce and Industry Association of NJ and the Fairleigh Dickinson University Nonprofit Advisory Board for their Center of Excellence in Nonprofit Leadership and Philanthropy. She is currently the President of the Association for Corporate Growth - NJ and in 2013, she also became a proud board member of both the Center for Nonprofits and the Visiting Nurse Association of Northern NJ. She is the co-chair of the PKF Family Business Community of Practice. Sally Glick earned her undergraduate degree from Northwestern University in Evanston, Illinois and in 2008, she was selected as the NU Alumni of the Year Merit Winner for the School of Continuing Studies. She earned her MBA from The Lake Forest Graduate School of Business Management in Lake Forest, Illinois.

Sally writes a Marketer's Blog for CPAs that can be found at www.accountingweb.com as well as authoring a Business Blog for middle market companies across all industries which is accessed through our home page at www.sobel-cpa.com.

CLE Accredited Programs



SALLY GLICK, MBA Sally Glick is a Principal of the Firm and Chief Growth Strategist at Sobel & Co, LLC, bringing the firm the experience and insights she has gained during her 30+ years in the profession. She has spent her career working as a marketing consultant assisting a wide range of CPA firms across the country. At Sobel & Co. she has responsibility for the firm’s marketing communications and its focus on business development. Sally was named Accounting Marketer of the Year for 2003 and served as the President of the Board of Directors of the Association for Accounting Marketing (AAM) in 2004. She has also been listed on Accounting Today’s list of Top 100 Most Influential People in Accounting for 2004, 2005 and 2006 and was voted into the AAM Hall of Fame in 2007. She was selected by NJBIZ as one of their Top 50 Women in Business for 2008 and in 2010, Sally was selected by Garden State Woman Magazine as the Woman of the Year in the Professional Services category. In 2014, she was one of the Top 25 Women of Influence in the United States by Practice Advisor. Sally serves on the boards of a variety of business and community groups including Commerce and Industry Association of NJ and the Fairleigh Dickinson University Nonprofit Advisory Board for their Center of Excellence in Nonprofit Leadership and Philanthropy. She is currently the President of the Association for Corporate Growth - NJ and in 2013, she also became a proud board member of both the Center for Nonprofits and the Visiting Nurse Association of Northern NJ. She is the co-chair of the PKF Family Business Community of Practice. Sally Glick earned her undergraduate degree from Northwestern University in Evanston, Illinois and in 2008, she was selected as the NU Alumni of the Year Merit Winner for the School of Continuing Studies. She earned her MBA from The Lake Forest Graduate School of Business Management in Lake Forest, Illinois.

CONTACT

Rebecca Fitzhugh 293 Eisenhower Parkway

Livingston, NJ 07039-1711

Email: [email protected] Tel: 973-994-9494

Fax: 973-994-1571

www.sobel-cpa.com

ENROLLMENT INFORMATION Audience Our programs are designed for law firms of all sizes, sole practitioners, and in-house counsel. The program level can be adjusted depending on the audience (Transitional and Nontransitional).

How You Benefit All CLE is Complimentary. There are No Fees/Cost to Attend.

For every session (50 minutes) you will earn one CLE credit.

The speakers are experienced across a range of topics that are relevant and timely for the legal community.

We offer the presentation at your office – no travel necessary!

We will provide breakfast or lunch in conjunction with the presentation.

To Schedule a Free Seminar, Please Contact:

Rebecca Fitzhugh, Sobel & Co., LLC, 293 Eisenhower Parkway, Livingston, NJ 07039; Email: [email protected]; Tel: 973-994-9494; or Fax to 973-994-1571

□ Yes! We would like to learn more about your CLE program.

□ We would like to schedule a CLE program at our firm.

Name:_______________________ Firm:________________________________ Phone:_______________________ E-mail:______________________________ Program(s)________________________________________________________ Date: ____________________ __Time:_________________________________

WWW.SOBEL-CPA.COM


ENROLLMENT INFORMATION Audience Our programs are designed for law firms of all sizes, sole practitioners, and in-house counsel. The program level can be adjusted depending on the audience (Transitional and Nontransitional).

How You Benefit All CLE is Complimentary. There are No Fees/Cost to Attend.

For every session (50 minutes) you will earn one CLE credit.

The speakers are experienced across a range of topics that are relevant and timely for the legal community.

We offer the presentation at your office – no travel necessary!

We will provide breakfast or lunch in conjunction with the presentation.

To Schedule a Free Seminar, Please Contact:

Rebecca Fitzhugh, Sobel & Co., LLC, 293 Eisenhower Parkway, Livingston, NJ 07039; Email: [email protected]; Tel: 973-994-9494; or Fax to 973-994-1571

□ Yes! We would like to learn more about your CLE program.

□ We would like to schedule a CLE program at our firm.

Name:_______________________ Firm:________________________________ Phone:_______________________ E-mail:______________________________ Program(s)________________________________________________________ Date: ____________________ __Time:_________________________________

WWW.SOBEL-CPA.COM




293 Eisenhower ParkwayLivingston, NJ 07039

973.994.9494www.sobel-cpa.com

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