Accountants Liability After Enron by kjf39881


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									Christopher M. Cutler
2001 K Street N.W.
Suite 400
Washington, D.C. 20006-1040
T: 202.857.1706
F: 202.828.2977

Mr. Cutler chairs the firm’s Accountants Defense practice and regularly represents international
and national accounting firms, companies, auditors and individuals in civil, criminal and regulatory
matters, including in investigations before the Public Company Accounting Oversight Board
(PCAOB) and the U.S. Securities and Exchange Commission (SEC). He joined the firm from the
PCAOB, where he was the first employee of the Board’s Division of Enforcement and
Investigations, and where he helped design and implement many of the division’s current
enforcement policies and procedures.

Prior to the PCAOB, Mr. Cutler was with the SEC’s Division of Enforcement where he opened the
Enron investigation and was instrumental in the SEC’s settled fraud actions against various
financial institutions resulting in more than $320 million of disgorged funds and penalties to be
distributed to injured Enron investors. Additionally, he assisted the SEC and the Department of
Justice’s Enron Task Force in other related Enron cases, including those against Enron’s former
CEO. In addition, Mr. Cutler tried and settled multiple cases involving financial fraud, insider
trading and broker/dealer misconduct.

Prior to his legal career, Mr. Cutler worked for a company that provided financial accounting
services to large financial institutions. He is highly knowledgeable in both Generally Accepted
Accounting Principles (GAAP) and PCAOB auditing standards (formerly Generally Accepted
Auditing Standards), and has extensive experience with matters involving complex financial
accounting issues.

Mr. Cutler speaks frequently at CLE and CPE programs and has provided multiple training
sessions to in-house counsel, company executives and law firms. In particular, Mr. Cutler has
spoken at the Annual AICPA National Conference on Current SEC and PCAOB Developments
and at the Annual ALI-ABA Accountants’ Liability Conference. In addition, he has provided CLE
training sessions for the legal departments of two of the Big 4 accounting firms on the regulation
of the accounting profession, and for law firms on topics including accounting and auditing for
derivatives, accounting for transfers of financial assets and accounting for variable interest

Mr. Cutler also writes on legal and accounting matters important to the profession, and has had
articles and case notes published by the American Bar Association and other periodicals. He also
regularly contributes to McGuireWoods' Subject To Inquiry, where he discusses accounting and
auditing related issues and accounting firm regulation.

Practice Areas
   • Accountants Defense
   • SEC Enforcement Defense
   • Government, Regulatory and Criminal Investigations
   • Business & Securities Litigation
   • Broker-Dealers & Investment Advisers

Representative Matters
   • Representing a Big 4 accounting firm in credit crisis-related federal and state civil and
      regulatory matters in connection with the firm’s audits and reviews of one of the largest
      financial institutions in the United States.
   • Ongoing representation of a Big 4 accounting firm in various regulatory matters, including
      matters before the PCAOB and the SEC.
   • Favorably represented a Big 4 accounting firm in a securities class action and
      malpractice case related to the firm’s audits and reviews of a Government Sponsored
   • Represented a partner of a Big 4 accounting firm in connection with an SEC investigation
      by convincing the SEC staff to end its investigation without taking disciplinary action after
      the receipt of a Wells Notice.
   • Represented an officer of a Fortune 500 company in an SEC investigation into
      allegations of financial fraud and violations of Regulation FD.
   • Represented Tyco in class action litigation arising from the company’s restatement of its
      financial statements and misconduct by certain company executives.
   • Represented a Fortune 500 company in connection with a Sarbanes-Oxley Act
      whistleblower matter that resulted in an SEC investigation. After producing documents
      and a written description of internal accounting policies, the SEC closed its investigation
      without proceeding further.

   • University of Florida College of Law, Gainesville, Florida, J.D., with Honors
   • Georgetown University, Washington, D.C., B.S. Finance, cum laude

Previous Experience
   • Assistant Director, Public Company Accounting Oversight Board, Division of
       Enforcement, Washington, D.C.
   • Senior Counsel, U.S. Securities and Exchange Commission, Division of Enforcement,
       Washington, D.C.

Speaking Engagements
   • Panelist, “Handling an SEC or PCAOB Investigation,” ALI-ABA Accountants’ Liability
       Conference, July 2010
   •   "Pfeiffer v. Toll: State Law Insider Trading Cause of Action Held Valid in Delaware," CLE
       Webinar, June 2010
   •   Keynote Speaker, "Accounting Issues Arising from the Subprime Credit Crisis," Financial
       Executives International, Florida, May 2009, Wisconsin, September 2009
   •   Panelist, "Handling an SEC or PCAOB Investigation," ALI-ABA Accountants’ Liability
       Conference, Chicago, Illinois, July 2009
   •   Understanding Auditor Independence," CLE Webinar, July 2009
   •   "Legal Issues Associated With the Structure of International Accounting Firms," CLE
       Webinar, July 2009
   •   "In Pari Dilecto and Deepening Insolvency," CLE Webinar, January 2009
   •   Keynote Speaker, "Did Enron Cause the Credit Crisis?" Financial Executives
       International, Tampa, Florida October 2008
   •   "Understanding the Regulation of the Accounting Profession," CLE Webinar, August
   •   "Credit Crisis Accounting – Allowance, Goodwill and Securities," CLE Webinar,
       June 2008
   •   "Understanding GAAP, GAAS and the Auditing Cycle," CLE Webinar, May 2008
   •   "A Comparison of the SEC and PCAOB Enforcement Functions," CLE Big 4 Legal
       Department Presentations, New York, January and May 2008
   •   Keynote Speaker, "Understanding Enron and the Result: SOX and the PCAOB,"
       Financial Executives International, Ft. Lauderdale, Florida, January 2008
   •   Panelist, Multiple PCAOB Programs Regarding Enforcement Initiatives and Update,
       PCAOB Small Business Forum, Ft. Lauderdale, Florida; Philadelphia, Pennsylvania;
       Seattle, Washington, 2005-2006
   •   "The PCAOB’s Functional Areas and Coordination Between Civil and Criminal Regulatory
       Bodies," Annual Corporate Fraud Conference, Atlanta, Georgia, Summer 2005
   •   Panelist, "PCAOB Enforcement Initiatives," AICPA National Conference on Current SEC
       and PCAOB Developments, Washington, D.C., December 2004
   •   Panelist, "PCAOB Enforcement Development," PCAOB Speaks, Washington, D.C., May
   •   Guest Lecturer, George Washington University, Washington, D.C.

   • District of Columbia
   • Florida

Place of Birth
    • Philadelphia, Pennsylvania

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