Former FASB Board Member Lawrence W. Smith Joins FTI Consulting
July 17 2017 - 7:30AM
FTI Consulting, Inc. (NYSE:FCN) today announced that Lawrence W.
Smith, former board member of the Financial Accounting Standards
Board (“FASB”), will join the firm’s SEC & Accounting Advisory
Services practice within its Forensic & Litigation Consulting
segment as a Senior Managing Director, effective August 1, 2017.
Mr. Smith, who will be based in New York, recently retired from
the FASB, the independent accounting standard setter in the United
States, after serving two five-year terms. As part of the
seven-member FASB, he was responsible for advancing its mission to
establish and improve financial accounting and reporting standards
to increase transparency for users of financial statements and
build investor confidence in the capital markets. During his tenure
as a board member, the FASB undertook major projects and
promulgated new standards in the areas of revenue recognition,
leases, credit losses, derivatives and consolidations, among
others.
At FTI Consulting, Mr. Smith will serve corporate clients and
law firms as a testifying expert in accounting-related litigation
matters. Additionally, he will serve as a member of the National
Office at FTI Consulting, responsible for consulting with
engagement teams and clients on complex accounting issues.
“Larry is one of the preeminent experts in the accounting
industry in the United States,” said Neal Hochberg, Global Leader
of the Forensic & Litigation Consulting segment at FTI
Consulting. “As corporations face continuing challenges from the
increasing complexity of accounting standards, Larry’s unique
experience as both a standard setter and a Big Four audit partner
deepens FTI Consulting’s ability to assist organizations as they
navigate a complicated regulatory environment.”
The addition of Mr. Smith will bolster the expertise of FTI
Consulting’s SEC & Accounting Advisory Services practice, which
assists public companies, boards of directors, audit committees and
legal counsel with SEC accounting and financial reporting issues
and ensuring compliance with corresponding regulatory
requirements.
“These are challenging times for financial reporting in the
United States as corporations adopt new rules on revenue
recognition, lease accounting, credit losses and derivatives in the
next few years,” Mr. Smith said. “I am excited to join the talented
team of experts at FTI Consulting in addressing their clients’ most
complicated accounting issues, in both the legal and regulatory
environments.”
Prior to his appointment to the FASB board, Mr. Smith spent five
years as the FASB’s Director, Technical Application and
Implementation Activities and served as Chairman of its Emerging
Issues Task Force. Mr. Smith joined the FASB in 2002 after a
25-year career at KPMG. From 1992 to 1996, he served as a Partner
in the firm’s Department of Professional Practice in New York. He
also served as Engagement Partner and SEC Reviewing Partner for a
number of Fortune 1000 clients.
About FTI ConsultingFTI Consulting, Inc. is a
global business advisory firm dedicated to helping organizations
manage change, mitigate risk and resolve disputes: financial,
legal, operational, political & regulatory, reputational and
transactional. With more than 4,700 employees located in 29
countries, FTI Consulting professionals work closely with clients
to anticipate, illuminate and overcome complex business challenges
and make the most of opportunities. The Company generated $1.81
billion in revenues during fiscal year 2016. For more information,
visit www.fticonsulting.com and connect with us on Twitter
(@FTIConsulting), Facebook and LinkedIn.
FTI Consulting, Inc.
555 12th Street NW
Washington, DC 20004
+1.202.312.9100
Investor Contact:
Mollie Hawkes
+1.617.747.1791
mollie.hawkes@fticonsulting.com
Media Contact:
Matthew Bashalany
+1.617.897.1545
matthew.bashalany@fticonsulting.com
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