Fraud Update: Detecting and Preventing the Top Ten Fraud Schemes (E1509343)

Paul C. Seitz, CPA, ABV, CVA, MAFF Wilmington, Delaware Mr. Seitz is the founder and the Managing Director of Seitz Consulting, LLC. His firm specializes in strategic financial planning, emerging business services and business valuation matters. In addition to providing assistance to both debtors and creditors for bankruptcy and troubled debt restructuring matters, the firm provides litigation support and forensic analysis assistance including expert testimony on a wide range of financial and accounting issues. Also, Mr. Seitz provides technical assistance to a Delaware based accounting firm for accounting and auditing issues related to financial statement engagements. He has served as an expert witness in the litigation of various business cases including net lost profit and damage determinations, business valuations, accounting and auditing issues, as well as other complex financial matters. Additionally, he has been appointed by the Delaware Chancery Court to serve as the forensic accountant for business disputes. He is experienced in the areas of troubled debt restructuring and bankruptcy. In addition to his experience on Delaware bankruptcy cases, he has served Committees of Unsecured Creditors for bankruptcies in Baltimore, Maryland and Houston, Texas. He has testified in Delaware Chancery and Superior Courts, Court of Common Pleas Chester County, Pennsylvania, United States District Court in North Carolina and in the Houston Bankruptcy Court. The diverse clientele he has served includes closely-held businesses, high-tech and service companies, nonprofit organizations, real estate and financial services companies, including broker/dealers and banks, manufacturing operations, racetracks and publicly-held clients with multinational operations. Mr. Seitz enjoyed a long career with the international accounting firm PricewaterhouseCoopers where he was an audit partner. In addition to being the partner in charge of the firm’s Wilmington Office, he maintained client service responsibilities serving a diverse group of small and large businesses. As a member of the firm’s Entrepreneurial Services Group, he gained substantial expertise in assisting emerging middle-market businesses with various management challenges including business planning, financing alternatives and incentive programs for employees. He was also a member of the firm’s Law Firm Services Group and testified and participated in various litigation engagements. Mr. Seitz was also a senior member of the Litigation and Bankruptcy Services Group of Deloitte LLP as well as a founding member of a regional accounting firm where he was in charge of the financial reporting, litigation and valuation services areas of the firm. Mr. Seitz has also served on the Boards of Directors of two financial services companies and held senior management positions including Senior Executive Vice President and Chief Financial Officer with those organizations. He was responsible for the legal affairs of each organization charged with overseeing and formulating the legal strategies for all litigation. He is experienced in regulatory and legislative matters having interfaced extensively with the Federal Deposit Insurance Corporation and the Delaware Office of the State Bank Commissioner and various state and federal elected officials. Mr. Seitz is a Certified Public Accountant in Delaware and Pennsylvania and Accredited in Business Valuation (ABV) as well as a Certified Valuation Analyst (CVA) and Master Analyst in Financial Forensics (MAFF). He has authored various articles on accounting and bankruptcy issues and law firm management. Recent publications include: Is Your Company at Risk? Fraud Schemes Pose Significant Business Threats (2013) What’s My Business Worth? Understanding the Business Valuation Process (2014) An active member of the community, he serves in various capacities for several nonprofit organizations. Mr. Seitz has also served as President of both the Delaware State Board of Accountancy and the Delaware State Society of CPAs as well as the Middle-Atlantic Director of the National Association of State Boards of Accountancy. Mr. Seitz is a graduate of the University of Delaware and has been honored as the University’s Outstanding Alumnus and also received the College of Business and Economics’ Annual Award of Excellence.