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ARTICLE · 26 JANUARY 2016

Accountant's Liability Under The Federal Securities Laws

Troutman Pepper Locke LLP
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New York partner Steve Rinehart, assisted by Troutman Sanders lawyers Matthew DeFrancesco, Marilyn Batonga and Phil DiMola, recently published "Accountant's Liability Under the Federal Securities Laws,"...

United StatesAccounting and Audit
Troutman Pepper Locke LLP
Troutman Pepper Locke LLP
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New York partner Steve Rinehart, assisted by Troutman Sanders lawyers Matthew DeFrancesco, Marilyn Batonga and Phil DiMola, recently published "Accountant's Liability Under the Federal Securities Laws," Chapter 5A in the Matthew Bender treatise Federal Securities Exchange Act of 1934. The chapter traces the development of theories of accountants' liability from its common law origins to the latest pronouncements of the Private Company Accounting Oversight Board (PCAOB).

The revised and updated installment examines the Omnicare and Halliburton decisions and their implications with respect to the potential liability of accountants. It also includes a discussion of the PCAOB's recent enforcement efforts and rulemaking, with particular emphasis on auditors' communications with audit committees, related party transactions, and significant unusual transactions.

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