Identification: FVC2147
The virtual courtroom is here to stay. Even the most experienced witness has to adopt to testifying over Zoom, Skype, Team and the other virtual platforms, just as theatre actors had to adopt to 'talkies', the big and small screens, and now podcasts. As with any other paradigm shift, you cannot simply package your old wines in new bottles: You need to obtain a whole different set of skills to the new medium, because, as Marshall McLuhan so aptly put it, "the medium is the message". This session introduces you to the skills you need to learn to captivate your forensic audience in the virtual courtroom.
Identification: FVC2144
Economic loss to a business plaintiff may be assessed as either lost profits or lost business value. This session will explore the similarities and differences between the two approaches, and discuss the strengths and weaknesses of each.
Identification: FVC2145
Digital Assets, which include Cryptocurrencies, are increasingly becoming a focus of speculation and investment. Digital Asset acceptance and use is progressing at an accelerated pace. Regulators are seeking to keep up with changes in the Digital Asset landscape while not stifling innovation. This session will discuss macro considerations with respect to defining and valuing Digital Assets for various purposes, primarily financial reporting.
Identification: FVC2146
In response to the COVID-19 pandemic, Congress authorized the largest stimulus relief package in U.S. history, offering hundreds of billions of dollars to businesses suffering economic hardships through a variety of initiatives including the Paycheck Protection Program, Economic Injury Disaster Loan Program, Provider Relief Fund, Restaurant Revitalization Fund, Shuttered Venue Operators Grant Program, and the Coronavirus Food Assistance Program. Federal investigators and prosecutors have mobilized quickly to combat fraud in connection with these programs and to ensure that relief funds were disbursed, and spent, properly. This session will explore the fast-moving landscape of pandemic-fueled investigations and prosecutions, with a focus on the early criminal prosecutions, anticipated enforcement trends, and identifying areas of risk for recipients of federal aid. The panel will also address the increasing use of civil penalty statutes such as the False Claims Act and FIRREA, and the key role of whistleblowers in rooting out possible fraud. In the face of this unprecedented wave of federal scrutiny of businesses receiving COVID-19 relief, the opportunities for white-collar criminal defense lawyers and forensic accountants are greater than at any point in recent history.
Identification: FVC2149
This session will examine the current state of affairs in the world of marketability discounts. We will survey the most commonly used techniques, trends in recent court decisions, and analyze the characteristics of a subject interest that influence the magnitude of the marketability discount.
Identification: FVC2150
During this panel discussion, the presenters (who include representatives from the AICPA Business Combinations task force, which is developing an Accounting and Valuation Guide on this topic, and a tangible asset valuation expert) will discuss frequently identified issues that arise from FASB ASC 842, Leases, which dramatically changed accounting for leases. In this session, we’ll address a variety of issues including the impact of the new leasing guidance on: • Market and income approaches for purposes of business valuation • Business combinations, including IRR and asset valuation (such as right-of-use assets) • Impairment testing under FASB ASC 360, including the valuation of right-of-use assets
Identification: FVC2151
As the global coronavirus pandemic enters its second year, state and local government agencies remain at the forefront of distributing emergency aid to individuals who have lost their jobs, are going hungry, and may be facing eviction or foreclosure. Unfortunately, with billions of dollars approved for COVID-19 relief aid, fraudsters and scammers have a huge opportunity to divert that money from the people who need it and make themselves rich. Given the urgent demand for relief, governments can focus on deployment rather than controls which creates many opportunities for fraud. The types of Fraudsters in this area can include government staff responsible for distributing funds, citizens / companies who falsify applications to obtain funds they are not entitled to, those who engage in identity theft to apply for funds on behalf of others etc. In this session, we will review the most prevalent types government benefits related frauds that have occurred during the COVID 19 pandemic and the prevention tactics that can be implemented to reduce these fraud types in the future.
Identification: FVC2152
Identification: FVC2154
From Serta, Caesars Palace, and J-Crew, leading private credit managers have battled it out in the last five years across high-profile restructurings that saw creditors wage war on fellow creditors for companies impacted by asset raids or lien jumping. The new term "creditor vs. creditor violence" focuses on a range of legal and valuation factors facing equity investors and the full range of credit investors.
Identification: FVC2155
Construction projects are complex, as are the claims and damage calculations that result when a project isn’t executed as expected. This session will examine typical claims that arise on construction projects and the role of the forensic accountant in quantifying damages. We will also explore other related areas the forensic accountant is able to assist, such as construction defect litigation and construction cost analysis on behalf of the owner.