“We commend our Sacramento chapter for creating an eye-opening and engaging program that will help financial executives foster high-performing and ethically-sound corporate cultures,” said Andrej Suskavcevic, CAE, President and CEO of FEI.
Morristown, N.J. and Sacramento, Calif. (PRWEB) September 21, 2016
Financial Executives International (FEI), the association of choice for CFOs and other senior-level financial executives, and the FEI Sacramento Chapter will present CFO vs. CEO: Fraud at HealthSouth, an afternoon speaker presentation and networking event, on October 26, 2016 at the Sheraton Grand Sacramento Hotel in Sacramento, Calif.
The afternoon will provide finance professionals with an opportunity to learn from former HealthSouth CFOs about the cultural causes and warning signs of financial fraud based on their experiences at the company. Attendees will also learn about the legal and regulatory changes that have since been established to prevent similar cases from occurring in the future, and industry-best practices in fraud prevention and detection.
- AARON BEAM, a Co-Founder of HealthSouth and its first CFO, will describe the corporate culture that led to fraud and his subsequent reactions.
- WESTON SMITH, a successor HealthSouth CFO who eventually revealed the fraud to the FBI, will discuss the mechanics, and red flags of, the fraud so that others may detect and deter fraud within their organizations.
- VIC HARTMAN, a former FBI special fraud agent who now specializes privately in forensic accounting, will provide insight into the FBI’s response and investigation of fraud and how companies may protect themselves.
“Financial executives and Chief Executive Officers working within the greater Sacramento business community are welcomed to engage in this forum, where they’ll learn firsthand about the fraud,” said Megan Robinson, Chief Financial Officer of Taco Bill Inc. & Affiliates, and President of FEI’s Sacramento Chapter. “Through the generosity of our event sponsors - Chase, Moss Adams, and Quest Technology Management - we are able to bring this earnings overstatement case to light, sharing an example of financial reporting fraud and its consequences from those that were responsible.”
“We are committed to educating our members on best-practices in financial management and fraud deterrence and detection is top among those,” said Andrej Suskavcevic, CAE, President and CEO of Financial Executives International. “We commend our Sacramento chapter for creating an eye-opening and engaging program that will help financial executives foster high-performing and ethically-sound corporate cultures.”
HealthSouth was a Wall Street darling, with more than 2,000 locations in 50 states and five countries. The company’s CEO boasted of meeting or exceeding earnings expectations for 27 straight quarters. However, underneath the glittering corporate image, a nearly $3 billion earnings overstatement occurred over more than a dozen years.
The event will provide ample opportunity for Q&A with the speakers and networking with peers at a cocktail reception. The event will run from 3:00 pm PST through 7:00 pm PST. CPE credits in Regulatory Ethics are available.
To register to attend FEI’s CFO vs. CEO: Fraud at HealthSouth event, please visit:
The event is open to the press.
Financial Executives International (FEI) is the leading advocate for the views of corporate financial management. Its more than 10,000 members hold policy-making positions as chief financial officers, treasurers and controllers at companies from every major industry. FEI enhances member professional development through peer networking, career management services, conferences, research and publications. Members participate in the activities of 74 chapters in the U.S. and a chapter in Japan. FEI is located in Morristown, NJ, and Washington, D.C. Visit http://www.financialexecutives.org for more information.