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Silicon Valley Bank: Takeaways to Apply to Your Client’s Financial Statements

SILICON VALLEY BANK: TAKEAWAYS TO APPLY TO YOUR CLIENT'S FINANCIAL STATEMENTS

Cost Free
Presentation Length 1.0 hour

Recorded DateApril 26, 2023
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaAuditing
Course LevelIntermediate
Course Description

This webinar will explore the events and circumstances surrounding the recent Silicon Valley Bank (SVB) closure, which includes mistakes made by SVB, whether it could have been detected beforehand, what and how similar crises can easily reoccur elsewhere, an explanation of the government’s involvement before and after the closure, and the auditor’s responsibility in all of this. Attend this course to understand how the application of GAAP and Fair Value measurements can and must be extended to newly developing out-of-the-box situations - such as occurred with SVB.

Learning Objectives:


  • Recognize when “conventional” wisdom does not serve your clients

  • Distinguish and redefine risks that are not apparent or covered by GAAP

  • Identify how "business as usual" can distort financial statement disclosure

  • Determine how to apply Fair Value concepts to out-of-the-box situations

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Ed is a partner in Withum’s East Brunswick, NJ, office and has over 40 years of public accounting experience. He is a licensed, certified public accountant in New Jersey and New York. He is accredited by the American Institute of Certified Public Accountants (AICPA) in business valuation and as a personal financial specialist (PFS). Ed is also admitted to practice before the United States Tax Court and has testified as an expert witness in federal and state court regarding business valuations.

A graduate of City College of New York, Ed earned his bachelor of business administration degree. He is a member of the AICPA, the New Jersey Society of Certified Public Accountants (NJSCPA), and the New York State Society of Certified Public Accountants (NYSSCPA). Ed was a founding partner of Mendlowitz Weitsen, LLP, CPAs, which joined Withum in 2005. Currently, he serves on the NYSSCPA Estate Planning Committee and was chairman of the committee that planned the NYSSCPA’s 100th Anniversary. The author of 16 books, Ed has also written hundreds of articles for business and professional journals and newsletters. He is the contributing editor to the Practitioners Publishing Company’s 1998/1999 706/709 Deskbook and the AICPA 2004 edition of The Management of an Accounting Practice Handbook. He is on the editorial board of Bottom Line/Personal and Tax Hotline financial newsletters. Appearing regularly on television news programs, Ed has also been quoted in numerous major newspapers and periodicals in the United States. He is the Lawler Award recipient for the best article published in 2001 in the Journal of Accountancy.

Ed is a frequent speaker to many professional and business groups, including the AICPA, NJSCPA, NYSSCPA, American Management Association, the National Committee for Monetary Reform, University of Medicine and Dentistry in NJ, and many more. For 11 years, he taught financial analysis courses, corporate financial policy and theory, monetary and fiscal policy, and managerial accounting in the MBA program at Fairleigh Dickinson University.

About Our Presenter

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Withum is a forward-thinking, technology-driven advisory and accounting firm, committed to helping clients be more profitable, efficient and productive in the modern business landscape. With office locations in major cities and financial centers across the country, and as an independent member of HLB, the global advisory and accounting network, Withum serves businesses and individuals on a local-to-global scale. Our professionals provide the expert advice and innovation solutions you need to Be in a Position of StrengthSM in today’s fast-paced, tech-driven world.