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Audit Committees and Financial Reporting 2013: Recent Developments and Current Issues

 
Author(s): Gene A. Capello, John F. Olson, Catherine L. Bromilow
Practice Area: Accounting, Corporate & Securities
Published: Jun 2013
PLI Item #: 43170
CHB Spine #: B2037

Catherine is a partner in PwC’s Governance Insights Center. She helps boards and audit committees apply leading practices and understand the impact of emerging regulations on their activities. She has worked extensively with boards and directors from a number of countries, including the Bahamas, Barbados, Bermuda, Brazil, Canada, Chile, the Dominican Republic, India, Israel, Japan, Mexico, South Africa, the United States, and Venezuela.

Catherine developed many of the governance publications that PwC has issued: Audit Committee Effectiveness — What Works Best; Board Effectiveness — What Works Best; Governance for Companies Going Public — What Works Best; Going Public? Five Governance Factors to Focus On; Director Dialogue with Shareholders — What You Need to Consider; and PwC’s Family Business Corporate Governance Series. She also contributed to PwC’s Audit Committee Excellence Series, which focuses on leading practices on specific topics. NACD Directorship magazine in 2015 named her for the ninth consecutive year as one of the 100 most influential people in corporate governance in the United States. She also speaks frequently at director conferences.

Catherine is a Certified Public Accountant (licensed in New Jersey) and a Chartered Professional Accountant, CPA, CA (from Canada). She holds a Master of Accounting degree from the University of Waterloo in Canada.


John F. Olson is a founding partner of Gibson, Dunn & Crutcher's Washington, D.C. office. Mr. Olson represents business organizations in corporate governance, corporate securities, corporate finance and merger and acquisition matters. He has acted as special counsel for boards of directors and board committees on governance issues and in assessing shareholder litigation, responding to business combination proposals and conducting internal investigations.  He has represented corporations, broker-dealer firms and individuals in Securities and Exchange Commission and other federal agency investigations and regulatory matters.

Mr. Olson has chaired the American Bar Association (ABA) Business Law Section Corporate Governance and Federal Regulation of Securities Committees, and has served for many years on the Corporate Laws Committee. He has also served, by appointment of the ABA President, on the Presidential Task Force on Corporate Responsibility and the ABA’s Standing Committee on Government Affairs. He is a member of the Executive Council of the Securities Section of the Federal Bar Association and is Chair of the Board of Trustees of the American College of Governance Counsel.

Mr. Olson is frequently recognized as one of the nation's foremost authorities on securities, corporate governance and mergers and acquisitions law. He is ranked as one of the top securities regulation attorneys in the country by Chambers USA, has been named by the International Financial Law Review as a Leading Lawyer in U.S. Mergers & Acquisitions and by Who’s Who Legal as one of the leading corporate governance practitioners in the world. Mr. Olson was named the Washington, DC Corporate Law Lawyer of the Year for 2013 and the Washington, DC Corporate Governance Law Lawyer of the Year for 2012 by The Best Lawyers in America®.  Additionally, Best Lawyers has listed Mr. Olson for his corporate, securities, and governance work in every edition published since its inception more than 30 years ago. Annually, Mr. Olson has been selected by the National Association of Corporate Directors and Directorship magazine to its NACD Directorship 100: The Most Influential People in the Boardroom and Corporate Governance Community, in the U.S. and in 2013 was elected to the NACD Directorship Corporate Governance Hall of Fame.

The author and editor of many books and articles on legal issues, Mr. Olson is a Distinguished Visitor from Practice at Georgetown University Law Center.


Gene A. Capello was most recently Assistant General Counsel and Assistant Secretary at Pfizer Inc. from 2006 – 2012. At Pfizer, he specialized in corporate governance, securities transactions and was counsel to the audit committee.  A frequent speaker and panelist at various forums for lawyers and corporate governance professionals, Gene has most recently lectured on emerging issues in securities and corporate governance law, ethics and professionalism in securities law and audit committee practices. 

Prior to Pfizer, Gene was Managing Director for Policy at Proxy Governance, Inc., where he was co-head of policy development at a new and innovative proxy advisory firm.  From 1985 through 2004, he was Vice President and Assistant General Counsel at J.P. Morgan & Co. Incorporated and later at J.P. Morgan Chase & Co. where he specialized in a number of areas including corporate governance, securities, foreign exchange and derivatives and banking law.  Prior to that Gene was an associate at Willkie Farr & Gallagher in New York.

Gene received his J.D. from St. John’s University School of Law in 1981 where he was a member of the Law Review.  He also holds an M.S.W. from New York University and a Bachelor’s Degree in Business Administration from The City College of New York.  He is a member of the American Bar Association, the Association of the Bar of the City of New York (where he is a member of the Financial Reporting Committee) and the Society of Corporate Secretaries and Governance Professionals. He was formerly co-chair of the Practising Law Institute’s (PLI) annual Audit Committees and Financial Reporting workshop.  

He is currently President of the Board of the Fair Housing Justice Center in Manhattan and a member of the Board of Riverside Health Care System in Yonkers, New York.  He has served on a number of local civic and charitable organizations including serving as Chairman of the Board of the Westchester County Health Care Corporation (Westchester Medical Center).

Gene currently resides in Westchester County, New York with his wife, Doris, a former university professor and his daughter, Angela, a law student.