Free Webcast: Non-GAAP Measures – What Do They Say About Fraud Risk?

Event Date:: July 18, 2018

Event Time: 1:00 PM - 2:30 PM Eastern

CPE Credits: 1.5
NACD Skill-Specific Credits: 1

Field of Study: Behavioral Ethics (BE)

Level: Intermediate

Prerequisite: Must have a basic understanding of financial reporting requirements, corporate management, internal controls, corporate governance, and fraud deterrence and detection.

** Earn free CPE and NACD Skill-Specific Credit

**Note: Not all states accept Behavioral Ethics credits for this type of program. In those cases, you can apply these credits as Accounting or Auditing. Please check with your State Board of Accountancy.

When presented appropriately, non-GAAP measures can provide insight into a company’s results of operations, financial position, and liquidity. What happens when non-GAAP measures are not transparent, consistent, or comparable? What do they say about fraud risk? How do they enhance or distort a company’s story? This webcast, hosted by the Anti-Fraud Collaboration, and expanding on insights contained in a 2018 Center for Audit Quality report, Non-GAAP Measures: A Roadmap for Audit Committees, will promote a greater understanding of how to spot inconsistencies that might raise a potential warning sign, and delve into all stakeholders’ roles relative to the development and presentation of non-GAAP measures. Hear from an expert panel who will share actionable recommendations that organizations can implement to deter fraud and misconduct.

Learning Objectives:
Gain insights into:
  • Understanding why companies present non-GAAP measures (including non-GAAP financial measures and Key Performance Indicators)
  • Understanding when non-GAAP measures are appropriate and when they may be indicators of fraud
  • Understanding key oversight responsibilities of financial reporting supply chain members related to non-GAAP measures and related internal controls

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 This event also qualifies for 1 NACD Skill-Specific Credits. Please check this box if you wish to earn NACD Skill-Specific Credits for attending.
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Cindy Fornelli
Center for Audit Quality
Executive Director

Cindy Fornelli is Executive Director of the Center for Audit Quality (CAQ), a position she has held since the CAQ was established in 2007. In 2017, Ms. Fornelli was honored for the ninth time by Directorship magazine as one of the 100 most influential people on corporate governance and in the boardroom. Accounting Today has named her one of the 100 most influential people in accounting for 11 consecutive years.

Ms. Fornelli serves on the Advisory Board of the Ira M. Millstein Center for Global Markets and Corporate Ownership, the Securities and Exchange Commission Historical Society’s Board of Trustees, the Audit & Risk Oversight Committee Advisory Council of the National Association of Corporate Directors (NACD), the Accounting and Auditing Committee of the International Corporate Governance Network, and the Markets Advisory Council of the Council of Institutional Investors.


Phil Billington
Vice President, Internal Audit

Phil Billington is Vice President, Internal Audit at HCA Healthcare, Inc. HCA is a fortune 100 healthcare company with over 180 hospitals, 120 surgery centers and various other healthcare facilities operating in 20 states and England. Prior to joining HCA in 2005, Mr. Billington had 15 years of experience in big 4 public accounting and consulting experience across Arthur Andersen, KPMG and FTI Consulting. Mr. Billington is a CPA and received his undergraduate and master’s degree from Murray State University. He is a member of the American Institute of Certified Public Accountants, the Tennessee Society of Certificated Public Accountants and the Institute of Internal Auditors.

Heather Dixon
VP, Controller and Chief Accounting officer

Heather Dixon is the VP, Controller and Chief Accounting officer of AETNA, a Fortune 50 diversified healthcare benefits company with over $60 billion in revenue, where she is responsible for Controllership, Tax, SOX & Internal Controls, SEC and Statutory Reporting and Finance Shared Services for the company. Ms. Dixon is a member of the Committee of Corporate Reporting of the Financial Executive Institute (FEI). Ms. Dixon joined Aetna in 2016 as Vice President, Assistant Controller.

Prior to joining Aetna, Ms. Dixon was the Vice President, Assistant Controller of PepsiCo. Prior to that, Ms. Dixon was with American Express, where she held a number of positions of increasing responsibility with a focus on technical accounting, financial reporting, and regulatory reporting and project delivery.

Ms. Dixon started her career in public accounting where she spent six years in the audit practice in Dallas, Texas and four years in the Global Capital Markets practice in London, England for PricewaterhouseCoopers. She has a BA in Accounting from Southern Methodist University and is a Certified Public Accountant in the State of Texas.

Keith Higgins
Ropes & Gray LLP
Chair, Securities and Governance Practice

Keith Higgins serves as the Chair of the Securities and Governance Practice at Ropes & Gray LLP, a preeminent global law firm. Previously, from May 2013 through January 2017, Mr. Higgins served as Director of the Securities and Exchange Commission’s Division of Corporation Finance. Before joining the SEC, Mr. Higgins served as a Partner in the Boston office of Ropes & Gray.

Mr. Higgins is a frequent writer and lecturer on securities law, executive compensation, and corporate governance, and is a past Chair of the Federal Regulation of Securities Committee of the American Bar Association. Mr. Higgins holds a B.A. from Florida State University (Phi Beta Kappa) and received his M.A. from the University of Virginia. He graduated summa cum laude from Boston University School of Law and clerked for the Honorable Herbert P. Wilkins in the Supreme Judicial Court of Massachusetts.

Serena I. Wolfe
Ernst & Young LLP

Serena Wolfe is EY’s Central Region Real Estate Hospitality & Construction (RHC) leader, managing the go-to-market efforts and client relationships across the sector. Ms. Wolfe is also EY’s Global RHC Assurance Leader. Ms. Wolfe has practiced for over 18 years, including six years with EY Australia, and 12 years with the US practice. Ms. Wolfe has worked in a variety of industries including manufacturing, technology and real estate.

Ms. Wolfe earned a BCOM in Accounting from the University of Queensland, Australia and is a member of the Institute of Chartered Accountants of Australia. Ms. Wolfe is a CPA in Illinois, California, New York and Pennsylvania.
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