You are an associate at ABC LLP, a forensic accounting firm. Your company is retained by the Law Firm that is representing a client. The client, the former CFO of the Public Company, is being investigated by the SEC and FBI for running a large accounting fraud scheme and funneling money to his own account after allegedly falsely invoicing sales during 2013 and 2014. The Auditing Firm, which was recently terminated, audited the Public Company and issued opinion letters in connection with the Public Company’s 2013 and 2014 annual reports.

You are just getting up to speed on the case, but the ABC Partner asked for you to help analyze the issue in connection with the Law Firm.

Assume that you are in a meeting with the Law Firm about advising the CFO on options for defending an SEC investigation / FBI investigation. Describe to the group your understanding of:

a. Advice of Counsel Defense

b. Good Faith Defense

c. Fifth Amendment (testimonial and documentation)

Answer rating: 100% (QA)

Advice of counsel defence The law of the land allows the accused to put forward his her or its point ... View the full answer