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Associates Need Financial Savvy: Ten Concepts Managing Partners Wish Associates Knew Better
A solid grasp of financial and accounting fundamentals can enormously enhance the value of a young attorney's work product. I often saw evidence of this in my previous legal administrator role for a 50-attorney Denver law firm. In my current CPA practice, in which I serve more than 20 law firms on an ongoing basis, I see the same pattern in working closely with attorneys on tax planning and compliance, financial reporting, fraud investigations, forensic accounting, and business appraisals.
When I recently visited a law firm that retained me as an expert witness regarding a complex accounting matter, an associate attorney gave me an overview of several boxes of accounting records. These records included several thousand pages of tax returns, audited financial statements, general ledger detail schedules, and related documents. I would have to review these documents so that I could render an affidavit that the records produced by the underlying business client were satisfactory and sufficiently complete to allow a determination of a key issue in the litigated matter. The fact that this young attorney had a better than average grasp of the nuances of accounting and finance made my work much easier and resulted in a better result for the law firm's client.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.