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CAQ WEBCAST Auditors' Responsibility When Illegal Acts are Suspected

Gain insight into Section 10A of the Securities and Exchange Act of 1934, the investigation process, risks to auditors, and remedial actions. Educational materials, not professional advice.

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CAQ WEBCAST Auditors' Responsibility When Illegal Acts are Suspected

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  1. CAQ WEBCAST Auditors' Responsibility When Illegal Acts are Suspected How 10A Really Works in Practice June 27, 2008 The views expressed by the presenters do not necessarily represent the views, positions, or opinions of the Center for Audit Quality or the presenters’ respective organizations. These materials, and the oral presentation accompanying them, are for educational purposes only and do not constitute accounting or legal advice or create an accountant-client or attorney-client relationship. Slide 1

  2. Today’s program is designed to help you better understand: Section 10A of the Securities and Exchange Act of 1934 Circumstances requiring a 10A investigation The structure, independence, and process of an investigation What is meant by “timely and appropriate remedial actions…” The risks to the auditor from the SEC Today’s Objectives Slide 2

  3. Dr. Timothy P. Hedley, CPA Forensic Partner KPMG LLP Steven Skalak, CPA Advisory Services Partner PricewaterhouseCoopers LLP Michael R. Young Litigation Partner Willke Farr & Gallagher LLP ********** Cynthia M. Fornelli Moderator & Executive Director Center for Audit Quality Today’s Panelists Slide 3

  4. Section 10A “Timely and appropriate remedial actions with respect to the illegal act.” Slide 4

  5. Circumstances Requiring a 10A Investigation Slide 5

  6. Preliminary Investigation &Disclosure Slide 6

  7. Structure & Independence Slide 7

  8. Attorney-Client Privilege Slide 8

  9. Interviews Slide 9

  10. Forensics Slide 10

  11. Form of Report Slide 11

  12. Remediation Slide 12

  13. SEC and DOJ Slide 13

  14. Questions & Summary Slide 14

  15. Join the CAQ today! Visit www.theCAQ.org/members or call 1-888-817-3277 Slide 15

  16. Thank you for participating! Please visit us at www.theCAQ.org or call 1-888-817-3277 Slide 16

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