SEC Roundtable on International Financial Reporting Standards
July 7, 2011
List of Participants (As of July 5, 2011)
Mr. Neri Bukspan
Chief Quality Officer & Chief Accountant
Standard & Poor’s
Neri Bukspan is an Executive Managing Director with S&P Ratings Services. Based in New York, Mr. Bukspan is Standard & Poor’s global Chief Quality Officer, and is responsible for overseeing the development of operating standards, metrics and key reporting requirements for managing ratings quality assurance processes.
Mr. Bukspan joined Standard & Poor’s in 2002 as its Chief Accountant. In this role, he oversees Standard & Poor’s accounting initiatives supporting the firm’s analysts in addressing the increasing complexity of emerging accounting and financial reporting matters. Prior to joining Standard & Poor’s he served in Ernst & Young's National Accounting office as a technical resource for the firm's professionals worldwide.
Mr. Bukspan is a Certified Public Accountant (CPA), licensed in New York and California. He is a member of the American Institute of CPAs (AICPA), the New York State Society of CPAs, and the California Society of CPAs. He is a member and a former chair of the Financial Accounting Standards Board’s (FASB) Investors Technical Advisory Committee and serves on the Financial Accounting Standards Advisory Council (FASAC) of the FASB, the Standards Advisory Committee of the International Accounting Standards Board, the Standing Advisory Group of the Public Company Accounting Oversight Board, and is a former member of the Accounting Standards Executive Committee (AcSEC) of the AICPA.
Mr. Bukspan holds a B.A. in Accounting and Economics from Tel-Aviv University, an M.B.A. from the Anderson School of Business at the University of California, Los Angeles, and a Masters in Taxation from the Marshall School of Business at the University of Southern California.
Gregory J. Jonas
Greg Jonas is a Managing Director in Morgan Stanley’s Equity Research group, covering matters involving accounting, financial reporting, and taxation. His goal is to improve the insight that analysts and investors glean from companies’ public disclosure.
Greg came to Morgan Stanley from Moody’s, where, during the credit crisis, he led the firm’s communication functions. For five years, Greg was Moody’s chief accountant on corporate ratings.
Greg joined Moody’s from Arthur Andersen where he led the technical functions that supported Andersen’s worldwide audit practice.
Greg has served on numerous committees supporting the AAA, AICPA, FASB, IASB, IMA, PCAOB, and SEC. During the 1980s, Greg served a two-year fellowship at the FASB.
Managing Director and Chief Credit Officer
Moody’s Investor Services
Mark LaMonte is a Managing Director and Chief Credit Officer for Moody’s Global Financial Institutions group while at the same time leading Moody’s Enhanced Analytics group and serving as the firm’s chief accounting analyst. In his Chief Credit Officer role, Mark is responsible for improving the quality and consistency of credit standards, development and implementation of rating methodologies, and broad portfolio monitoring activities for Moody’s banking, insurance and other non-bank finance rating business.
The Moody’s Enhanced Analytics group which Mark also oversees is part of broad initiative to bring specialized expertise to the firm’s credit rating process. The group is comprised of analysts with specialized expertise in accounting, financial reporting and internal controls; corporate governance; risk management; and hybrid financial instruments. Since its creation in 2002, the specialists in Moody’s Enhanced Analytics group have worked alongside Moody’s credit analysts to incorporate issues and complexities related to their areas of expertise more systematically into the credit rating process. The group also publishes research comments on issues within its areas of expertise and conducts training for Moody’s analysts on relevant topics which impact ratings.
Mark is also a member of the FASB’s Emerging Issues Task Force (EITF), co-chair of the FASB’s Investors Technical Advisory Committee (ITAC), and a member of the Institute of Management Accountant’s Financial Reporting Committee.
Mark joined Moody’s in 2003 from KPMG LLP’s Department of Professional Practice. There he was responsible for consulting with audit teams on accounting, financial reporting, risk management and audit related issues. He also contributed to a number of the firm’s publications on various accounting and financial reporting topics.
During his 12+ years with KPMG, Mark also spent time in KPMG’s Boston and Stamford, Connecticut offices where he was responsible for audits for clients in the consumer and industrial products industries.
Mark is a CPA and holds a Bachelor of Business Administration degree from Siena College.
Duff & Phelps LLC
Mr. Larsen is an expert in the application and interpretation of fair value accounting principles, in particular FASB ASC Topic 820 (fka SFAS 157). His primary professional focus is assisting clients with developing Fair Value compliant processes and procedures, and assessing the fair value of illiquid assets compliant with applicable accounting rules.
Mr. Larsen has more than 25 years experience advising numerous strategic and private equity acquirers in all areas of mergers, acquisitions, joint ventures, divestitures and fair value accounting maters. Mr. Larsen serves as a member of the Financial Accounting Standards Board’s (FASB’s) Valuation Resource Group responsible for providing the Board with input on potential clarifying guidance on issues relating to the application of the principles of FASB ASC Topic 820, Fair Value Measurements; a board member, project manager and technical advisor to the Private Equity Industry Guidelines Group and was instrumental in developing and drafting the Private Equity Industry Guidelines Group’s Valuation and Reporting Guidelines;; a board member of the International Private Equity and Venture Capital Valuations Board, which released international Private Equity Guidelines in 2005 and in 2009; and a member of the American Institute of Certified Public Accountants (AICPA) Net Asset Value Task Force that established guidance for valuing interests in alternative asset fund.
He serves as a special advisor to the Institutional Limited Partners Association (ILPA), and was lead editor of the publication The Definitive Guide to Private Equity Valuation. Mr. Larsen’s clients include some of the world’s largest institutional investors and asset managers.
Prior to joining Duff & Phelps, Mr. Larsen was a partner at KPMP LLC’s Transaction Services practice, where he was the segment leader of KPMG’s U.S. Institutional Investor practice. He also served 13 years in KPMG’s Seattle, Dusseldorf, Germany and Prague, Czech Republic audit practices.
California Public Employees’ Retirement System
Mary is currently an Investment Officer within Corporate Governance of Global Equities for the California Public Employees’ Retirement System (CalPERS). Ms. Morris is responsible for working with a dedicated governance team to further CalPERS’ leadership role in Corporate Governance as a means of improving the Pension Systems’ long-term performance of assets under management.
Ms. Morris’ experience spans over 25 years as an Auditor, Accountant, and as a financial Analyst in both the private and public sectors. She provides technical accounting and auditing expertise to the International Corporate Governance Network’s Accounting and Auditing Practices Committee and is a member of the Investors Technical Advisory Committee of the Financial Accounting Standards Board, of the Standing Advisory Group of the PCAOB, the American Institute of CPAs, and the Institute of Internal Auditors. Ms. Morris is a Certified Public Accountant and a Certified Internal Auditor.
Senior Vice-President - Accounting Policy and Research
Allstate Insurance Company
Kevin is currently the Head of Accounting Policy and Research at Allstate Insurance Company. Kevin has overall responsibility for company’s accounting policy and research activities related to its property & casualty and life insurance subsidiaries as well as related investment activities. Kevin is a member of the Group of North American Insurance Enterprises (“GNAIE”) and Chairman of GNAIE’s Accounting Convergence Committee for past five years. Kevin represents GNAIE at Industry Roundtables as well as topic specific FASB and IASB Roundtables (e.g., Fair Value, Fair Value Option, Conceptual Framework, IAS 37, Financial Instruments, Insurance Contracts, etc.). Kevin is a frequent speaker on technical accounting topics at industry conferences and in a variety of regulatory forums, both domestic and international.
Prior to working at Allstate, Kevin held a similar position at Household International, Inc. Kevin began his career at KPMG Peat Marwick. Kevin received his BA in accounting at Marquette University and his MBA in Finance and Economics at the University of Chicago.
Gerald I. White
Chair, Corporate Disclosure Policy Council
Gerry White has been a financial analyst and investment advisor for more than forty years and is president of Grace & White, Inc, investment counsel. He has represented the analyst community in the financial reporting process, and has served on FASAC, several FASB task forces, and an SEC advisory committee. He has taught financial statement analysis at the graduate level and has co-authored The Analysis and Use of Financial Statement, one of the leading textbooks on the subject. CFA Institute awarded him its Distinguished Service Award and C. Stewart Sheppard Award. He has an AB degree (mathematics and economics) from Brown University, and an MBA (finance) from New York University, Stern School of Business.
Bank of the West
Daniel Beck serves as the Corporate Controller of Bank of the West, a strong regional financial services company headquartered in San Francisco, California. We are one the nation's largest banks with over $60 billion in assets, operating with over 700 branches in 19 Western, Rocky Mountain and Midwestern U.S. states as well as representative offices in New York, Tokyo. Besides being a strong bank in the U.S., we are also a member of the BNP Paribas (BNPP) Group, a European leader in global banking and financial services and one of the strongest banks in the world. We represent a significant portion of BNPP's retail banking in the U.S.
Mr. Beck began his career in the Banking industry in 1997 with Deloitte & Touche, LLP. After assuming Corporate and Business Line finance roles with E*TRADE Financial Corporation, the Federal Home Loan Mortgage Corporation and Wells Fargo Bank, Mr. Beck took the role as EVP & Corporate Controller at Bank of the West in 2008. Mr. Beck is responsible for the Accounting, Finance Technology and Financial Planning & Analysis activities of the firm.
Since joining Bank of the West, Mr. Beck has been heavily involved in financial reporting activities in both US GAAP and IFRS, with hands on experience in managing financial activities and business decision making in an environment where both sets of accounting standards are adhered to.
Mr. Beck is a 1997 Graduate of Virginia Commonwealth University, where he earned a Bachelor of Science in Accounting.
Shannon L. Greene
Chief Financial Officer
Tandy Leather Factory, Inc.
Shannon L. Greene has served as Chief Financial Officer and Treasurer of the Tandy Leather Factory, Inc. since May 2000. She was appointed to serve on the Board of Directors in January 2001. Prior to May 2000, Ms. Greene served as the Company’s Controller and Assistant Controller since September 1997. From January 1996 until she joined TLF, she served as CFO/Controller for a venture capital group specializing in the computer industry in Dallas, Texas. From 1987 to 1995, she worked in public accounting. Ms. Greene received the Bachelor of Accountancy from New Mexico State University in 1987 and was licensed as a Certified Public Accountant (CPA) in 1991. Her professional affiliations include the American Institute of Certified Public Accountants, the Texas Society of Certified Public Accountants, the National Investor Relations Institute, and Financial Executives International. She also serves as a board member of the US Chamber of Commerce.
David V. Grubb, CPA
Plante & Moran, PLLC
David is a partner in the Southfield, Michigan Office of Plante & Moran, PLLC and is a member of the firm’s Professional Standards Team. He has 19 years of public accounting experience and is the firm’s director of accounting policy. David has firm-wide responsibilities for accounting standards implementation, consultation and training on accounting and auditing technical matters, and reporting under IFRS.
In addition to his responsibilities with the Professional Standards Team, David has extensive experience consulting with SEC registrants and other clients on the application of accounting principles; including revenue recognition, leases, business combinations, income taxes, stock-based compensation and others.
David holds a Bachelor of Science degree in Accounting from the University of Detroit. He is a member of the American Institute of Certified Public Accountants, the Michigan Association of Certified Public Accountants and the Board of Advisors for the College of Business Administration at the University of Detroit Mercy.
Charles A Rowland
Vice President, Chief Financial Officer
Charles A. Rowland Jr., CPA, MBA, is ViroPharma’s Vice President and Chief Financial Officer. He has 28 years of diversified experience across a broad field of financial areas. Mr. Rowland is responsible for all areas of finance and accounting, including financial reporting, tax, treasury, and strategic financial planning. Most recently, he was the executive vice president and chief financial officer for Endo Pharmaceuticals, as well serving for a period as co-interim chief executive officer. At Endo, Mr. Rowland drove the strategic planning process through two successive chief executive officers. He also led the design and implementation of the company's mid and long-term strategy. Prior to joining Endo, Mr. Rowland spent three years as senior vice president, chief financial officer for Biovail Pharmacueticals, where he directed all financial activities for the company including tax, treasury, accounting, financial analysis, investor relations as well as all aspects of information technology. Mr. Rowland previously held positions of increasing responsibility at Breakaway Technologies, Pharmacia, Novartis and Bristol-Myers Squibb Company. He holds a Bachelors of Science in accounting from St. Joseph's University, and a Master of Business Administration degree from the Rutgers University.
William L. Yeates, CPA
Hein & Associates LLP
Bill is an audit partner with Hein & Associates LLP (Hein) and until 2010 was its National Director of Auditing and Accounting. He is responsible for implementation and training of IFRS within Hein and is a frequent speaker regarding IFRS within the Rocky Mountain region. From 2006 to 2010 Bill served on the Financial Accounting Standards Advisory Council (FASAC). The primary function of FASAC is to advise the FASB on issues related to projects on its agenda, including the convergence of US financial reporting with international standards. He is a past member of the: Professional Practice Executive Committee of the Center for Audit Quality; the SEC Regulations Committee; SEC Practice Section Executive Committee of the AICPA; and the Board of Directors of the Colorado Society of CPAs. Hein was established in 1978 and has offices in Denver, Houston, Dallas, and So California. The firm is one of the largest accounting firms based in the Rocky Mountains and has approximately 50 public audit clients.
Chief Financial Officer
Cuisine Solutions, Inc.
Mr. Zilkowski was named Chief Financial Officer of Cuisine Solutions, Inc. in March 2007. Previously, Mr. Zilkowski was Controller at Intermagnetics General Corp. in 2006 prior to its acquisition by Phillips Medical later that year. Prior to that, he was Senior Vice President of Finance and Controller at Chindex International for twelve years. He has also worked with the International Group of Bristol-Myers Squibb and International Paper. Mr. Zilkowski is a CPA and holds an MBA from Rutgers University.
Chief Accountant and Director of the Division of Audits in the Office of Enforcement
Federal Energy Regulatory Commission
Mr. Bryan K. Craig is the Chief Accountant and Director of the Division of Audits in the Office of Enforcement at the Federal Energy Regulatory Commission (FERC). He brings over 25 years of experience in the accounting and auditing professions. Mr. Craig has extensive leadership and management experience in developing accounting and auditing programs at the FERC to support the agency’s mission and strategic goals. Prior to working in the Office of Enforcement, Mr. Craig worked in the Office of Chief Accountant (OCA). He started his career in OCA as an auditor and through a series of promotions moved on to become the Director of the Division of Audits responsible for leading and directing all of OCA’s audit activities.
Mr. Craig holds a Bachelor of Business Administration and Accounting degrees from Howard University in Washington, DC and a Certificate in Financial Planning from Florida State University in Tallahassee, Florida. He is a license Certified Public Accountant in Washington, DC.
Senior Policy Fellow, International Affairs
National Association of Insurance Commissioners
Rob Esson was educated at Oxford University and subsequently qualified as a Chartered Accountant with Arthur Andersen in London. He is now Senior Policy Fellow, International Affairs at the National Association of Insurance Commissioners (NAIC) in the US, and is involved with many of the NAIC initiatives relating to International Accounting and the Solvency Modernization Initiative.
At the International Association of Insurance Supervisors (IAIS), he was Chairman of the Insurance Contracts Subcommittee throughout its existence ending June 2011. He is also a member of the Common Framework for the Supervision of Internationally Active Insurance Groups Task Force (“ComFrame”), and participates in a number of other IAIS Subcommittees and groups. He also represents the NAIC at the Joint Forum working groups on Risk Assessment and Capital, and Principles for the Supervision of Financial Conglomerates.
The Insurance Contracts Subcommittee was responsible for formulating the IAIS positions on the International Accounting Standards Board’s (IASB) Insurance Contracts, Financial Instruments and Revenue Recognition projects. He is also an official IAIS observer member on the IASB’s Insurance Working Group and Financial Instruments Working Group, a member of the joint IASB/FASB Financial Institutions Advisory Group on Financial Statement Presentation, an official observer member of the Expert Advisory Panel on Impairment of Financial Assets, and represented the IAIS at the majority of the meetings of the Financial Crisis Advisory Group.
National Association of State Boards of Accountancy Director at Large
Ehrhardt Keefe Steiner & Hottman PC
Gaylen is a Director-at Large of the National Association of State Boards of Accountancy (NASBA). He has been selected as NASBA Vice Chair for 2011-2012 and will accede to Chair for 2012-2013. He is a former member and chair of both the Colorado State Board of Accountancy and the Colorado State Securities Board.
Gaylen is a member of IFAC's Consultative Advisory Group to its ethics and auditing standards boards (IESBA and IAASB) and represents NASBA on IFAC's National Standard Setters ethics committee. He is also a member of the Professional Ethics Executive Committee (PEEC) and the PCAOB Standing Advisory Group (SAG). He served as a member of the Treasury Department's Advisory Committee on the Auditing Profession (ACAP).
Gaylen is an audit partner and is Ehrhardt Keefe Steiner & Hottman's Director of Quality Assurance. EKS&H is the largest public accounting firm based in the Rocky Mountain Region. He is responsible for firm accounting and audit technical standards, regulatory liaison, PCAOB inspections and peer review.
Gaylen has an extensive auditing and financial reporting background with small to large enterprises in numerous industries. He is experienced in SAS 70 audits and is accredited in business valuation. He is a frequent commenter and speaker on international standards.
Kathy K. Murphy
Office of the Comptroller of the Currency
Kathy K. Murphy is the Chief Accountant at the Office of the Comptroller of the Currency (OCC). She is representing the Chief Accountants of the five federal financial institution regulatory agencies in the SEC's Roundtable on International Financial Reporting Standards in the United States. These agencies collectively regulate over 15,000 financial institutions in the United States.
As Chief Accountant, Ms. Murphy serves as the OCC's authoritative source for bank accounting and financial reporting, providing accounting counsel to examiners, the banking industry and the accounting profession. She also represents the OCC on the Federal Financial Institutions Examination Council's Reports Task Force and the Accounting Task Force of the Basel Committee on Bank Supervision. Ms. Murphy has been instrumental in developing views on both domestic and international accounting standards and analyzing the impact of these standards on financial institutions. In addition, she has led numerous OCC and interagency initiatives surrounding the Allowance for Loan and Lease Losses.
Ms. Murphy joined the OCC in 2002 after serving in public accounting with two large national accounting firms. She assumed her role as Chief Accountant in July 2009 after serving four years as Deputy Chief Accountant. She graduated in 1997 from the University of Maryland cum laude with a bachelor of accountancy and finance degrees. She is also a Certified Public Accountant and a member of the American Institute of Certified Public Accountants and Women in Housing and Finance.