Accounting Policy Plus

Esther has appeared as an expert witness in a number of major litigation cases, including the following:

• She testified at trial on the fair value accounting for derivatives in Citibank vs. Lehman Bros.

• She testified on the accounting for deferred taxes in the matter of MF Global Holdings Limited Securities Litigation.

• She testified on the accounting for derivatives and the implementation of FAS 133 on behalf of the CFO and Controller of Fannie Mae. 

• She has also consulted on the fair valuation of a complex derivative portfolio in connection with a high-profile trading loss at a major financial institution. 

Esther has provided advice regarding the accounting for complex structured transactions.  These transactions involve decisions regarding:

• whether entities should be accounted for on- or off-balance sheet,

• whether instruments should be classified as liabilities, equity, or derivative instruments, and

• how and when revenues should be recognized.

Specific transactions she has advised on include how to account for:

• complex stock compensation plans
  

• the acquisition of another company

• spinoffs and sales of subsidiaries

• how to achieve hedge accounting
  

Esther is currently working with clients to implement the new standards on 

• Credit Losses (CECL) 

• Leasing

• Derivatives and Hedging

Esther has also implemented the following US GAAP standards for major corporations:

• Fair Value Measurement (Topic 820/FAS 157)

• Accounting for Stock Compensation (Topic 718/FAS 123R)

• Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities (Topic 860/FAS 166 )

• Consolidation of Variable Interest Entities (Topic 810/FAS 167)

• Esther has advised on the adoption of a Sarbanes-Oxley governance framework for a major broker-dealer and designed internal control requirements.

• She has developed plans for remediating internal control deficiencies and material weaknesses.