Dr. Schilit will share his secrets on detecting companies attempting to hide operational problems by using a variety of financial shenanigans. Such tricks can involve (1) earnings manipulation (2) operating cash flow distortions and (3) company-created metrics -- all of which put a positive spin on a company's deteriorating underlying economic performance. The presentation also focuses on the "breeding ground" for shenanigans and highlights both quantitative and qualitative screens to help detect the bad actors.
Dr. Howard M. Schilit
Founder and CEO of Financial Shenanigans Detection Group, LLC
Dr. Schilit is an international leader in forensic accounting and corporate governance and author of Financial Shenanigans: How to Detect Accounting Gimmicks & Fraud in Financial Reports (McGraw-Hill) 3rd Edition, May 2010. He has been a leading spokesman before Congress, the SEC, and media outlets about causes and early warning signs of accounting tricks in public filings. Dr. Schilit recently founded the Financial Shenanigans Detection Group, LLC. In 1994, he founded and ran a global forensic accounting research organization, Center for Financial Research & Analysis (CFRA) until 2005.
He frequently lectures on the subject of financial shenanigans to investors, bankers, lawyers, journalists and insurers. Business Week referred to Dr. Schilit as the "Sherlock Holmes of Accounting," and Smart Money magazine selected him twice as one of the "Power 30" of investing. A former professor of accounting at American University, Dr. Schilit holds a doctorate in accounting from the University of Maryland.
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