Tepper School alumni in New York are invited to join Professor Jonathan Glover for an evening presentation in the DEC cafeteria at PwC on Tuesday, Nov. 12, 2013 from 6:30 - 9 pm. Dr. Glover is Professor of Accounting; Richard M. Cyert Professorship of Management and Economics at the Tepper School of Business. The topic for the presentation will be: "Can Financial Accounting Regulators and Standard Setters Get (and Stay) Ahead of the Financial Engineers?"

Death and taxes are said to be the two certainties of life. Accountants, accounting regulators, and standard setters might add a third:  managers of public firms will engage in financial engineering in attempts to reach their financial reporting objectives. Preparers seem able to circumvent any rules that stand in their way of securing their earnings or balance sheet (and even cash flow) goals.  This cat-and-mouse game between rule-makers and preparers of financial reports is as old as accounting regulation.  Dr. Glover will discuss features of the current standard setting and regulatory environment from the perspective of their incentive properties on preparers and financial engineers.  He will also discuss the role of executive compensation practices in fueling the flames of financial engineering.  Finally, Dr. Glover will conclude with some recommendations for (1) the standard setting process, (2) selective use of recognition thresholds, (3) decreased complexity, (4) greater recognition of the role and influence of culture/norms, (5) the interaction between culture/norms, standard setting, and regulation, (6) "wild-catting" and other SEC investigative practices, (7) SEC speech GAAP and the OCA's pre-clearance process, (8) executive compensation and, in particular, a team rather than individual incentive view of compensation.

Register online. The networking reception will start at 6:30 pm and Dr. Glover will begin speaking at 7:15 pm. Refreshments will be served. Attire is business casual.

Special thanks to our sponsor and hosts at PwC.

Contact Yowei Li (MBA '07) for more information.

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