Schedule

7:45am -- Registration and networking breakfast

8:30 - 9am -- Opening Remarks

9:15 - 10:15am -- Breakout Sessions (1.0 CPE)

Business Valuation/Family Law: Cost of Capital Update

• Ted Israel, Partner, IFG Forensics

Ted Israel will engage attendees in a candid conversation about the profession's ever-evolving processes to estimate the cost of capital of private businesses.

Economic Damages/Fraud and Financial Investigations: USA v. Koerber - A Case Study on the Effective Use of Forensic Accounting Information in a Ponzi Scheme Prosecution

• Aaron Clark, Partner, Armstrong Teasdale LLP, Former Federal Prosecutor

Former federal prosecutor Aaron Clark will take a look at the Koerber case and how the District of Utah used forensic accounting at trial and sentencing in prosecuting the orchestrator a roughly $100 million Ponzi scheme. Topics include the types of records to consider seeking for forensic analysis, the breadth and extent of disclosures pre-trial, whether to qualify your forensic accountant as an expert (as opposed to a summary) witness, presenting effective testimony (and evidence) at trial and sentencing, and involving your forensic accountant at the charging stage of a prosecution.

10:20am - 11:20am -- Breakout Sessions (1.0 CPE)

Business Valuation/Family Law: Valuation of Carried Interest in Private Equity and Venture Capital Funds

• Antonella Puca, Partner, Blueval
• Ben Towne, Principal, Towne Advisory Services

Antonella Puca and Ben Towne will discuss the unique challenges of valuing carried interest in private equity and venture capital funds under both the fair value standard of ASC 820/IFRS 13 and the fair market value standard for IRS filing purposes. They'll review the most common types of distribution waterfalls. We will then present a case study of how to build a discounted cash flow model using a basic fund structure of 2/20 with a European waterfall and an estimated fund life of 10 years. We will discuss how to develop model assumptions from key terms in a fund's legal agreements (PPM and operating agreement) using a top-down methodology. We will illustrate an example of an option pricing model as applied to carried interest valuation. We will present an example of Monte Carlo simulation, and highlight its key assumptions. We will discuss how to estimate a suitable discount for lack of marketability under the fair market value standard. Finally, we will provide our perspective on how to select a suitable valuation approach for carried interest, after considering data availability, characteristics of expected cash flows, and risk features of the underlying funds. 

Economic Damages/Fraud and Financial Investigations: Atherton v. Chicago Title - An Escrow Company's Critical Role in a Major Ponzi Scheme

• Mark Cramer, Shareholder, Buchalter

Mark Cramer will discuss the case of Gina Champion-Cain and her company American National Investments (ANI). His presentation will cover:

• How the fraudulent liquor license scheme "worked"
• Chicago Title's role in the scheme
• How escrows are legitimately used in transfers of liquor licenses
• How escrows were corrupted, under the cover of legitimate purpose
• Apparent failures of corporate governance, internal audit, and external audit that allowed the scheme to flourish undetected for years

11:30am - 1pm -- Networking Lunch and Keynote Speaker

General Session: Accountants on the Wrong Side and Accountants on the Right Side of Criminal Prosecutions (1.5 CPE)

• Aaron Arnzen, United States Attorneys' Office Major Frauds and Public Corruption Section

Aaron Arnzen draws upon three decades of experience as an accountant and attorney, including extensive litigation experience at the SEC and United States Attorney’s office. He dissects several notable cases in which the accountants played central roles, often the architects of the schemes. Several job specialties in the accounting industry are analyzed:

1. The corporate accountants who begin by cutting corners or looking the other way as others do so, find themselves sliding deeper and deeper into impropriety until there is no escape.

2. The auditors who don’t follow up on anomalous data or pass on red flags, because of time budgets, deadlines, and client pushback, then become the fall guys when a house of cards collapses.

3. The forensic accountants with deep understanding and experience in the previous two specialties have the skills and senses to understand the various forces at work, and are able to unravel the schemes, and present information in a relatable manner.

1:15 - 2:15pm -- Breakout Sessions (1.0 CPE)

Business Valuation/Family Law: Technology - Something for Everyone (1.0 non-technical)

• Lorna Mouton Riff, Managing Director, CBIZ FCG
• Evan Kilbourne, Senior Director, FTI Consulting
• Anne Winston, Co-Founder, Ospree

Lorna Mouton Riff, Evan Kilbourne, and Anne Winston will share all things tech, with something for everyone! They'll discuss what you need to truly go paperless, and what's new with software, hardware, and research.

Economic Damages/Fraud and Financial Investigations: Calculating Economic Damages In Medical Malpractice Cases

• Erik Volk, Executive Vice President, J.S. Held

Erik Volk will provide an overview of the assessment of economic damages in medical malpractice cases in California. He'll also discuss lost years, collateral sources, periodic payments, Present Cash Value, and special considerations unique to medical malpractice.

2:20 - 3:50pm -- Breakout Sessions (1.5 CPE)

Business Valuation/Family Law: A Picture is Worth a Thousand Words - Data Visualization in Expert Reports

• Katherine Furlan, Senior Manager, Deloitte Dispute Advisory Services
• Rachel Ryman, Director, Deloitte Dispute Advisory Services

While words can be powerful, sometimes they're not the best way to get your point across. Visuals can aid in distilling a complex message. In our role as independent experts it is our duty to assist our clients, opposing experts, and ultimately the triers of fact in understanding our evidence. Katherine Furlan and Rachel Ryman with Deloitte Dispute Advisory Services will provide strategies to optimize the design of visualizations to help increase the speed at which your message is comprehended and retained.

Economic Damages/Fraud and Financial Investigations: Quantification of Damages in Intellectual Property Matters

• Eric Carnick, Senior Director, J.S. Held

Eric Carnick will present on the quantification of damages in intellectual property matters, including patent, trademark, and copyright disputes, as well as matters involving trade secret misappropriation. Typically, these types of matters involve the assessment of lost profits, reasonable royalties, price erosion, and/or profit disgorgement.