Publications

William M. Hake
William M. Hake

Senior Counsel

Portrait of Audrey Tam
Audrey Tam

Of Counsel

Publications

Events

Professionally Speaking
When: Q2 2025
People: Richard J. Bortnick, Craig Brinker, Anjali C. Das, William F. McDevitt, James A. Murray, Susan Abbott Schwartz, Alexandra E. Skarka, Daniel E. Tranen and Michelle Yee
By Any Other Name: Rules Limiting Alternative Pleading in Professional Liability Actions
When: Q2 2025
People: Craig Brinker, William F. McDevitt, Susan Abbott Schwartz and Michelle Yee
Texas Supreme Court Rejects Repackaging of Professional Claims
When: February 25, 2025
People: Susan Abbott Schwartz and Craig Brinker
PLUS Publishes Gelozin Tips for Accountants Receiving Subpoenas
When: January 7, 2025
People: Rebecca R. Gelozin
Risk Mitigation - Engagement Letter Tips for Accountants
When: December 17, 2024
People: Shirley S. Karasick
The Cost of Noncompliance: Failing to File with FinCEN Under the CTA Puts Companies at Risk
When: November 7, 2024
People: William H. Behr and William Tolin Gay
How Should Accountants Respond to Subpoenas
When: October 23, 2024
People: Rebecca R. Gelozin
Professionally Speaking
When: July 2024
People: Mara Sackman, Robert F. Merlo, Carole J. Buckner, Daniel E. Tranen and Michael S. Weisenbach
Corporate Transparency Act Requires Disclosure of Information Regarding Beneficial Owners to FinCEN
When: January 17, 2024
People: William H. Behr and William Tolin Gay
Professionally Speaking
When: June 2023
People: Matthew W. Lee, Wendy D. Testa and Lindsay B. Powell

Publications

Benford & Larkin Obtain Summary Judgment on $3.2 Million Accounting Malpractice Claim

John Benford (Partner-Orlando, FL) and Peter Larkin (Partner-White Plains, NY) obtained summary judgment in an accounting malpractice case pending in state court in Orlando, Florida, where the plaintiff was seeking $3.2 million in damages (including prejudgment interest). The case involved two accounting firms (including a national firm) and one of their CPAs in an accounting malpractice lawsuit brought by a Florida-based petroleum company. The plaintiff alleged that the CPA had colluded with its former CEO to increase the CEO’s bonus by using a formula that deviated from the formula contained in the CEO’s employment agreement, and which the plaintiff’s board of directors never approved. The plaintiff claimed that the CPA’s use of the alternate formula caused the CEO to be overpaid a total of approximately $1.2 million in unauthorized bonus compensation. The company also claimed approximately $2 million in prejudgment interest relating to the alleged overpayments. Through targeted deposition testimony, John and Peter demonstrated that several members of the plaintiff’s management were aware of the CPA’s use of the alternate bonus formula and, therefore, the plaintiff petroleum company had institutional knowledge that the CPA was using the different formula. 

John Y. Benford and Peter J. Larkin

Gavel with calculator and spreadsheet

Larkin and Gelozin Successfully Represent Accounting Firm in Informal PCAOB Inquiry

White Plains, New York, partners Peter Larkin and Rebecca Gelozin represented an accounting firm client regarding an informal inquiry from the Public Company Accounting Oversight Board's Division of Enforcement and Investigations. After providing extensive documents and information, our client was notified by the PCAOB that it has completed its informal inquiry and does not intend to recommend any enforcement action. PCAOB enforcement actions have increased in frequency and intensity in recent years, leading to many jaw-dropping fines being levied by the PCAOB, particularly when there are questions of compliance with the quality control standards. We avoided not only any mention of a fine by the PCAOB enforcement attorneys but also escalation from an informal to a formal investigation, not only keeping the firm out of harm’s way but also truncating what is often a very difficult process to navigate. 

Peter J. Larkin and Rebecca R. Gelozin

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