Joint Breakfast with NACD Featuring Lynn E. Turner, Fomer Chief Accountant of the SEC

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“Financial Crisis to Reform: Change or Just High Hopes”

In testimony before the House Committee on Oversight and Government Reform in October 2008, during the height of the unraveling of the financial system, Lynn Turner noted that “there was a clear lack of transparency as a result of inadequate disclosure standards for off balance sheet financings, credit derivatives and risks associated with lending activities.” In his testimony and in numerous other venues, Mr. Turner called for reforms in the regulatory framework that governs the activities of the SEC, the Federal Reserve, the Officer of the Comptroller, the Office of Thrift Supervision, and other federal and state agencies. A year later, the debate over how to address such proposals continues, but no concrete steps have been taken to prevent the circumstances that gave rise to the financial crisis from recurring. This program will focus on the areas in which reform is needed and the prospects for enacting such reform in the current political environment.

Lynn E. Turner, Chief Accountant of the Securities and Exchange Commission (SEC) (1998 - 2001). Lynn Turner has the unique perspective of having been the Chief Accountant of the Securities and Exchange Commission, a member of boards of public companies, a trustee of a mutual fund and a public pension fund, a professor of accounting, a partner in one of the major international auditing firms, the managing director of a research firm, and a chief financial officer and industry executive.

As Chief Accountant of the SEC, Mr. Turner was the principal advisor to the SEC Chairman and Commission on auditing and financial reporting and disclosure by public companies, as well as related corporate governance matters. These issues included the oversight and development of U.S. auditing, accounting and disclosure standards, as well as matters affecting audit committees of public companies. In that capacity, Mr. Turner has also worked regularly with Congress, various federal and state government agencies, international regulators, representatives of industry, and the accounting profession.

Prior to joining the SEC, Mr. Turner served as the CFO and Vice President of Symbios, Inc, a Colorado-based international semiconductor and storage manufacturer, and as an audit and SEC Review partner for PricewaterhouseCoopers (PWC). Since leaving the SEC, Mr. Turner has served as the managing director of research and an officer of Glass Lewis & Co., an internationally-recognized proxy and financial research firm, as a professor of accounting at Colorado State University, and as a member of the U.S. Treasury’s Committee on the Auditing Profession.

Location: Top of the Tower, 1717 Arch Street, 50th Floor, Philadelphia, PA

7:30 AM Breakfast | 8:00 - 9:00 Program and Q&A

This event qualifies for 1 CPE Credit.

Cost:

$35 Members

$50 Guests

Dress Code: Business Attire