ALI-ABA Focuses On Accountants' Liability In The Financial Crisis

Wednesday, June 2, 2010 - 00:00

The American Law Institute and the American Bar Association are presenting a two-day seminar to examine the issue of litigation facing companies and accountants due to the recent financial meltdown.

It will be held on Thursday and Friday, July 8 and 9, at the Langham Hotel, 250 Franklin Street in Boston. On Thursday it will run from 8:25 a.m. until 6:15 p.m. immediately followed by a reception. On Friday the sessions will begin at 8:00 a.m. and will adjourn at 4:45 p.m.

New federal securities class action filings surged in 2008 in the wake of the financial crisis. Most of the suits took aim at accounting irregularities, and a majority of class action suits named accounting firms.

Participants who represent financial institutions will learn of the key challenges confronting the accounting profession today, including the changes in the nation's financial regulatory structures and their effect on the accounting profession, new auditing and accounting standards, the internationalization of accounting standards, and the growing popular perception of accountants as watchdogs for the public.

There will be a keynote address by James J. Leisenring, member of the International Accounting Standards Board, who will discuss the transition from GAAP to IFRS and other issues arising from the internationalization of accounting standards.

Other faculty members include Luke T. Cadigan, assistant regional director of the U.S. Securities and Exchange Commission;Julie B. Crockett of PricewaterhouseCoopers LLP; James D. Goldsmith of KMPG LLP; and Elizabeth V. Tanis, King & Spalding LLP.

For information visit CLE Events on The Metropolitan Corporate Counsel website at

To register for the program visit