Industries: Accountants Defense

For more than 30 years, McGuireWoods lawyers have represented international and national accounting firms in litigation relating to accounting and auditing matters. Inclusive in our collective experience is the defense of accounting firms and auditors in certain high stakes matters such as Enron and WorldCom, as well as in proceedings before civil and criminal regulators, including the Public Company Accounting Oversight Board (PCAOB), the U.S. Securities and Exchange Commission (SEC) and the Department of Justice.

With over 45 experienced lawyers resident in our Washington, DC., New York, Los Angeles, Chicago, Charlotte, Richmond, Jacksonville and Baltimore offices, our Accountants Defense team provides comprehensive and thoughtful representation across the country. The success of our team is due to our in-depth understanding of the accounting profession, including our understanding of the PCAOB, the SEC, Generally Accepted Accounting Principles (GAAP), and the laws, rules and professional standards that govern the profession. Our lawyers include the first attorney in the PCAOB’s Division of Enforcement and Investigations, as well other former regulators and prosecutors, including a former U.S. Attorney and former attorneys from the SEC’s Enforcement Division.

A state-of-the-art communications network links McGuireWoods offices across the country and around the world, allowing us to represent accounting firms and auditors anywhere in the world, whenever they need our services. We draw on the expertise and experience of lawyers in other firm practice areas to provide each client with effective and efficient representation, and partner with other McGuireWoods’ specialty teams organized to address substantive issues, such as the current sub-prime financial crisis.

Representative Experience

• Representation of a Big 4 accounting firm in credit crisis-related federal and state civil and regulatory matters in connection with the firm's audits and reviews of one of the largest financial institutions in the United States.
• Ongoing representation of a Big 4 accounting firm in various regulatory matters, including matters before the PCAOB and SEC.
• Representation of a Big 4 accounting firm in a securities class action and malpractice case related to the firm’s audits and reviews of a Government Sponsored Entity (GSE).
• Representation of a partner of a Big 4 accounting firm in connection with an SEC investigation, by convincing the SEC staff to end its investigation without taking disciplinary action after the receipt of a Wells Notice.
• Representation of a Big 4 accounting firm in a tax malpractice case pending in state court for several years, including a baseball-style arbitration.
• Representation of the predecessor of a Big 4 accounting firm in an employee defalcation case.
• Represented the predecessor of a Big 4 accounting firm in connection with its audits and review of a bankrupt worker's compensation insurance holding company in a securities class action case, and in a related state court case by insurance commissioner.
• Representation of the predecessor of a Big 4 accounting firm in the resolution of a tax malpractice claim regarding inventory issues.
• Representation of the predecessor of a Big 4 accounting firm of a bankrupt insurance holding company in a securities class action and federal RICO case filed by Illinois insurance commissioner, as well as in related state court cases by bank creditors.