Michael R. Young, Partner, Willkie Farr & Gallagher LLP to Speak at KC’s Event on "Understanding 157-e: Fair Value Redefined" on 4/23/2009
Jersey City, NJ, March 21, 2009 --(PR.com)-- The Knowledge Congress, the leading producer of regulatory focused webcast announced today that Michael R. Young, Partner, Willkie Farr & Gallagher LLP will speak at the Knowledge Congress’ upcoming webcast entitled: “Understanding 157-e: Fair Value Redefined”. This 2-hour event is scheduled on April 23, 2009, Thursday at 12:00 NN – 2:00 PM ET. (For further details of the event and an updated list of panelists, please visit: http://knowledgecongress.org/event_2009_understanding157.html)
In an effort to help banks avoid fire-sale prices of their most toxic assets, the FASB has proposed sweeping changes to current mark to market accounting rules. Under the new rules, called 157-e, banks will be allowed to set their own values for certain troubled and difficult-to-value assets such as distressed mortgages and loans (consumer & corporate). While many institutions are lining up to take advantage of the new regulations, others are voicing concerns over how 157-e will impact the Treasury’s plan to remove toxic assets from the system. In all this confusion, one thing remains certain: economic recovery will be difficult if not impossible unless we continue to re-evaluate the way we do business.
The Knowledge Group has assembled a team of key thought leaders and experts to help you understand the impact of 157-e on your business. Understanding 157-e: Fair Value Redefined LIVE webcast is a must attend event for professionals and firms impacted by issues surrounding fair value.
About Michael R. Young
Named by Accounting Today as one of the “top 100 most influential people in accounting,” Michael R. Young is a litigation partner at New York’s Willkie Farr & Gallagher where he concentrates on securities and financial reporting with a particular emphasis in accounting irregularities. For more than twenty-five years, Mr. Young has represented officers, directors, audit committees, accounting firms, outside professionals, and companies in securities class actions, SEC proceedings, and special investigations. His trial work includes the landmark victory for the defense in the first class action tried to a jury pursuant to the Private Securities Litigation Reform Act of 1995. Mr. Young has served as a member of the Financial Accounting Standards Advisory Council to the Financial Accounting Standards Board and also serves as counsel to the American Institute of Certified Public Accountants.
A prolific author on the subjects of financial reporting, audit committee effectiveness and the role and responsibilities of the independent auditor, Mr. Young’s publications include The Financial Reporting Handbook (Aspen 2003) and Accounting Irregularities and Financial Fraud (Aspen 3d ed. 2006). Mr. Young is a much sought commentator on accounting issues, and has been regularly quoted in such publications as The Wall Street Journal, The New York Times, Fortune, Forbes, USA Today, The Washington Post, and The National Law Journal. He has also appeared as an invited guest on CNN, MSNBC, and CNBC.
Mr. Young is a graduate of Allegheny College and the Duke University School of Law, where he was research and managing editor of the Duke Law Journal.
About Willkie Farr & Gallagher LLP
Willkie Farr & Gallagher LLP was founded more than 120 years ago upon principles that still characterize our practice today. Our founders and memorable colleagues, like Wendell Willkie and Felix Frankfurter, established a strong foundation of integrity, innovation, pragmatism, flexibility and intellectual agility designed to continually meet the ever-changing business needs of our clients. These values form our approach to providing legal and business advisory services today. We continue our tradition of excellence by keeping nimble, working collaboratively together, with respect and professionalism, and by integrating this philosophy into our client relationships. Our clients not only rely on us for our creativity, skill, leadership, decisiveness and high-quality work, but because they know we are solution-oriented and we get the job done efficiently and effectively.
For more information about Michael Young and Willkie Farr & Gallagher LLP , please visit: http://www.willkie.com.
About The Knowledge Congress
The Knowledge Congress is an organization that produces webinars that examine regulatory changes across a variety of industries. “We bring together the world's leading authorities and industry participants through informative two-hour Live webinars to study the impact of changing regulations.”
To contact or to register for an event, please visit: www.knowledgecongress.org.
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In an effort to help banks avoid fire-sale prices of their most toxic assets, the FASB has proposed sweeping changes to current mark to market accounting rules. Under the new rules, called 157-e, banks will be allowed to set their own values for certain troubled and difficult-to-value assets such as distressed mortgages and loans (consumer & corporate). While many institutions are lining up to take advantage of the new regulations, others are voicing concerns over how 157-e will impact the Treasury’s plan to remove toxic assets from the system. In all this confusion, one thing remains certain: economic recovery will be difficult if not impossible unless we continue to re-evaluate the way we do business.
The Knowledge Group has assembled a team of key thought leaders and experts to help you understand the impact of 157-e on your business. Understanding 157-e: Fair Value Redefined LIVE webcast is a must attend event for professionals and firms impacted by issues surrounding fair value.
About Michael R. Young
Named by Accounting Today as one of the “top 100 most influential people in accounting,” Michael R. Young is a litigation partner at New York’s Willkie Farr & Gallagher where he concentrates on securities and financial reporting with a particular emphasis in accounting irregularities. For more than twenty-five years, Mr. Young has represented officers, directors, audit committees, accounting firms, outside professionals, and companies in securities class actions, SEC proceedings, and special investigations. His trial work includes the landmark victory for the defense in the first class action tried to a jury pursuant to the Private Securities Litigation Reform Act of 1995. Mr. Young has served as a member of the Financial Accounting Standards Advisory Council to the Financial Accounting Standards Board and also serves as counsel to the American Institute of Certified Public Accountants.
A prolific author on the subjects of financial reporting, audit committee effectiveness and the role and responsibilities of the independent auditor, Mr. Young’s publications include The Financial Reporting Handbook (Aspen 2003) and Accounting Irregularities and Financial Fraud (Aspen 3d ed. 2006). Mr. Young is a much sought commentator on accounting issues, and has been regularly quoted in such publications as The Wall Street Journal, The New York Times, Fortune, Forbes, USA Today, The Washington Post, and The National Law Journal. He has also appeared as an invited guest on CNN, MSNBC, and CNBC.
Mr. Young is a graduate of Allegheny College and the Duke University School of Law, where he was research and managing editor of the Duke Law Journal.
About Willkie Farr & Gallagher LLP
Willkie Farr & Gallagher LLP was founded more than 120 years ago upon principles that still characterize our practice today. Our founders and memorable colleagues, like Wendell Willkie and Felix Frankfurter, established a strong foundation of integrity, innovation, pragmatism, flexibility and intellectual agility designed to continually meet the ever-changing business needs of our clients. These values form our approach to providing legal and business advisory services today. We continue our tradition of excellence by keeping nimble, working collaboratively together, with respect and professionalism, and by integrating this philosophy into our client relationships. Our clients not only rely on us for our creativity, skill, leadership, decisiveness and high-quality work, but because they know we are solution-oriented and we get the job done efficiently and effectively.
For more information about Michael Young and Willkie Farr & Gallagher LLP , please visit: http://www.willkie.com.
About The Knowledge Congress
The Knowledge Congress is an organization that produces webinars that examine regulatory changes across a variety of industries. “We bring together the world's leading authorities and industry participants through informative two-hour Live webinars to study the impact of changing regulations.”
To contact or to register for an event, please visit: www.knowledgecongress.org.
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The Knowledge Congress
Thomas LaPointe, Jr., Executive Director
1.800.578.4370
www.knowledgecongress.org
Therese Lumbao, Director
Account Management & Member Services
tlumbao@knowledgecongress.org
Thomas LaPointe, Jr., Executive Director
1.800.578.4370
www.knowledgecongress.org
Therese Lumbao, Director
Account Management & Member Services
tlumbao@knowledgecongress.org
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