When facing a government investigation or regulatory proceeding, your accounting firm wants a team that has the experience and skill to help you proactively consider potential issues and develop an effective defense strategy.

Vedder Price attorneys have extensive experience representing accounting and auditing firms and professionals in compliance matters, investigations, and disciplinary and enforcement proceedings brought by the U.S. Securities and Exchange Commission, PCAOB, state licensing authorities, professional accounting associations and private litigation, including class actions. We understand the financial and reputational stakes involved in these sensitive matters. Our ability to work closely and credibly with regulators to resolve their concerns also means you can spend more time focusing on your clients rather than on distracting investigations or litigation.

Our team has experience representing clients in matters relating to the following:

• Accounting firms and their professionals facing PCAOB investigations concerning adequacy of the audit team’s considerations of fraud in financial statement audits under AU section 316
• SEC investigations concerning alleged independence violations
• SEC investigations involving allegations of a deficient audit and potential suspension under Rule 102(e) of the SEC’s Rules of Practice
• Representation in connection with SEC requests for documents located in foreign jurisdictions, including China and Israel
• PCAOB investigations concerning adequacy of the firm’s audit documentation and related procedures under Auditing Standard No. 3
• Guidance and representation for firms responding to subpoenas issued by the SEC, PCAOB, or other federal and state regulators
• Representation of accounting firms in securities class action litigation involving claims surrounding audit opinions and related issues

Representative Matters

• Represented a national accounting firm and several of its audit professionals in connection with DOJ and SEC investigations and prosecution of a former pharmaceutical executive and his company’s former outside counsel on charges of conspiracy to commit wire fraud and securities fraud
• Represented accounting firm and several of its professionals in a PCAOB investigation concerning adequacy of the audit team’s considerations of fraud in a financial statement audit under AU section 316
• Represented accounting firm in an SEC investigation concerning alleged independence violations
• Represented accounting professionals in an SEC investigation involving allegations of a deficient audit and potential suspension under Rule 102(e) of the SEC’s Rules of Practice
• Represented an accounting firm in responding to an SEC request for documents located in foreign jurisdictions, including China and Israel
• Represented an accounting firm and several of its principals and professionals in a PCAOB investigation concerning adequacy of the firm’s audit documentation and related procedures under Auditing Standard No. 3
• Routinely represent several accounting and auditing firms in responding to subpoenas issued by the SEC, PCAOB, or other federal and state regulators
• Routinely represent several accounting and auditing firms in SEC and PCAOB investigations concerning adequacy of audits performed