Finance: 2012 Annual Accounting & Auditing Update – 5 CPE Credits

Tuesday, November 27 2012
12:30 pm – 5:30 pm

Location: MassBio, 300 Technology Square, 8th Floor, Cambridge, MA

**This event is CPE Certified - 5 CPE Credits**


12:30pm-1:00pm – Registration

1:00pm-1:45pm - KPMG Presents: Accounting for Common Equity- Linked Instruments Issued by Biotech Companies: Warrants, Convertible Debt, and Preferred Stock

  • Andrew Sage, Audit Partner
  • Brian McCorry, Audit Partner,
  • Steve Briggs,  Senior Manager, Audit Practice

1:45pm-2:30pm - Deloitte Presents: Current Biopharma Deal and M&A Trends including Valuation & Accounting Implications of Contingent Consideration

  • Mike O’Hara- Partner, Audit and Enterprise Risk Services, Deloitte & Touche LLP
  • Jim Holmes- Partner, Audit and Enterprise Risk Services, Deloitte & Touche LLP
  • Christian Dokomajilar, Manager, Senior Biotech Analyst, Deloitte Recap LLC
  • Igor Heinzer, Senior Manager Financial Advisory Services, Deloitte Financial Advisory Services LLP

2:30pm-2:45pm – Break

2:45pm-3:30pm - BDO Presents: IFRS Convergence

  • Todd Berry, CPA, Assurance Partner
  • Doug Gustin, CPA, Assurance Partner
  • Maria Karalis, Assurance Partner, Member of BDO IFRS Task Force

3:30pm-4:15pm - PricewaterhouseCoopers, LLP Presents: IPO Readiness & The Going Public Process 

  • Stephen DeMarco, Assurance Partner, Pharma/Life Sciences Practice 
  • Michael Poirier, Partner, Capital Markets and Accounting Advisory Services 
  • Tina Pantaleo, Director, Capital Markets and Accounting Advisory Services

4:15pm-5:00pm – Q&A

  • Moderator: Ted Flynn, MA Society of CPAs

5:00pm-6:00pm – Networking Reception

Speaker Profiles:


Andrew Sage

Andrew is an audit partner in the New England and Upstate New York Consumer and Industrial Markets practice where he leads our life sciences practice. Andrew is  a designated IFRS review partner, and he has broad experience in numerous public offerings, merger and acquisition engagements, and other complex accounting transactions and issues, such as collaboration arrangements, business combinations, equity, stock based compensation, leases, derivatives, and pension accounting. Andrew has over twenty years of public accounting experience and was admitted into the KPMG partnership in 2003. Andrew is a member of the Massachusetts Society of Certified Public Accountants, the American Institute of Certified Public Accountants, and the Massachusetts Biotech Council, where he previously sat on the MassConnect Advisory Board. Andrew is also very involved with the Massachusetts Technology Transfer Center, and has hosted and sat on numerous panels at their request. Andrew is a licensed CPA in Massachusetts and New York, and he holds a BS degree in accounting from Boston College.

Bryan M. McCorry

Bryan McCorry is an audit partner in our Venture Capital Practice, in Cambridge, MA.  Bryan has significant experience providing audit services to companies in all stages of development. He has been involved in numerous initial and secondary public offerings and private debt placements.  Bryan spent three years on rotation to KPMG’s Department of Professional Practice (“DPP”) in New York City from July 2008 through June 2011.  While at DPP, Bryan’s principal responsibilities included researching technical accounting and SEC reporting inquiries received from engagement teams throughout the globe and developing firm auditing and accounting guidance and publications.  Bryan is a regular panelist in and sponsor of the MIT $100K Entrepreneurship Competition and the Harvard Business School Association’s New Venture Program.  A native of Pawtucket, Rhode Island, Bryan received his B.S. in accounting from Boston College.

Steve Briggs

Steve is a senior manager in the audit practice of KPMG’s Boston office.  He has twelve years of experience providing audit services to a variety of different clients in various industries.  Steve’s previous clients, both public and private, have ranged from $80 million in revenue to $4 billion in revenue.  Currently, he serves as a member of the Regional Professional Practice Network for KPMG’s New England and Upstate New York Business Unit.  In this role Steve provides assistance to KPMG engagement teams regarding technical accounting and auditing matters, risk management, and peer and PCAOB reviews.



Jim Holmes is a Partner at Deloitte & Touche LLP and currently serves as the audit biotech industry sector leader in the Boston office.  Jim serves companies that are early-stage venture-backed and publically held companies in the life sciences, healthcare technology and service industries.  He has significant experience with SEC reporting and responding to SEC comment letters, business combinations, initial public offerings, equity transactions and debt transactions.   Jim is a Certified Public Accountant and a member of the Massachusetts Society of Certified Public Accountants and the American Institute of Certified Public Accountants.  A graduate of Stonehill College, Jim currently serves on the Stonehill College Fund Committee.

Chris Dokomajilar is a manager and senior biopharma analyst at Deloitte Recap LLC. He provides data-driven advisory services to deal makers in the life sciences, including biotech and pharmaceutical companies, and investment banking and venture capital firms. With over 15 years of experience in life sciences and finance, his focus areas include sell-side and buy-side alliance strategy, M&A, financing, and pharmaceutical manufacturing. Chris is a frequent speaker at industry conferences and leads Recap’s eminence in industry journals. Recap specializes in data and insight into biotech and pharmaceutical deals, clinical development, and company valuations with some of the largest and most detailed biotech business intelligence databases in the world.  Prior to joining Recap, Chris managed international labs and clinical research at the University of California San Francisco. His research on epidemiological trends in infectious diseases has been published in medical and scientific journals. Before transitioning into science, Chris served in finance positions of increasing responsibility at Bank of America. Chris holds bachelor’s degrees from the University of California Berkeley in Molecular and Cell Biology and in Integrative Biology.

Igor Heinzer has over twelve years of experience providing valuation and financial advisory services related to business transactions, evaluating strategic alternatives for risk and robustness, prioritizing portfolios of real projects, performing business enterprise and tangible and intangible asset valuations, and analyzing and valuing debt and equity instruments and derivatives. Prior to joining Deloitte FAS, Igor served as a senior financial officer at the Gordon and Betty Moore Foundation where he focused on portfolio prioritization and project evaluation for the Foundation’s environmental initiative in the Andes and Amazon regions.  Before that he was as a senior valuation associate for Standard & Poor’s and PricewaterhouseCoopers LLP.  He has worked nationally and internationally with clients in the energy, mineral & mining, technology, manufacturing, life sciences, public and financial sectors.  

Mike O’Hara is a partner in the Boston office and leads Deloitte’s Life Sciences and Healthcare audit practice locally and in the Northeast and brings over 25 years of experience providing auditing, accounting, and consulting services to life sciences and health care organizations throughout New England and the Northeast. Mike has served many life sciences clients during his career and is currently the audit partner for Abiomed, DUSA Pharmaceuticals, BIND Biosciences, Cerulean Pharmaceuticals, Dicerna Pharmaceuticals, Living Proof and Seaside Therapeutics.  Mike also serves health care providers Charleston Area Medical Center (the largest health care provider in the state of West Virginia) and Jordan Health System in Plymouth, MA.  In addition to providing audit and accounting services Mike has assisted  his clients in other areas including mergers and acquisitions, capital financing, revenue cycle, and financial feasibility studies.

Mike is a member of the board of directors of the Massachusetts Biotechnology Council and is a member of the AICPA and the Massachusetts Society of CPAs.  Mike is also an adjunct professor of accounting and auditing at Boston College.


Todd Berry has over 25 years of experience auditing and advising middle-market, privately held, venture backed and multi-national public life sciences and technology companies. Todd is the leader of the BDO Boston Life Science Practice and has worked with various life sciences companies through the years including, CPEX, Nimbus Discovery, Icad, Inc., ImmunoGen, Inc., DecImmune Therapeutics, Inc., Genta Pharmaceuticals, as well as Webhire, Inc., a form 15 filer. In addition to Todd’s experience providing professional services to such companies, he also spent several years in financial operating positions with two technology start-ups.  Todd’s background includes significant experience auditing and advising companies in the area of revenue recognition, share-based compensation, pre-IPO planning, mergers and acquisitions, valuation issues, and complex equity and debt transactions. 

Todd also previously served as controller of Transkaryotic Therapies. His transactional experience in the area of venture capital transactions, initial public offerings and mergers and acquisitions has amounted to the generation of capital/value in excess of $1 billion.

Douglas Gustin has extensive experience with clients in the medical device and software industries.  His client service experience includes working on SEC engagements that have significant mergers and acquisition activity and both private and public offerings. Doug has over 14 years of combined experience in public and private accounting.  He has worked with both public and privately-held companies at various stages of development as well as companies with significant international operations.

Since 1991, Maria Karalis has been providing audit and business advisory services to public and private companies that operate in a variety of industries and countries.  During her tenure at BDO, she has been involved in merger and acquisition transactions for domestic and international target acquisitions. Maria is an Assistant Regional Technical Director for the firm’s Northeast offices and is a member of the firm’s International Financial Reporting Standards Task Force. Maria acts as the firm’s Country Coordinator for Benelux, Cyprus and Greece and is on the Steering Committee of the BDO Women’s Initiative.  She also has served as the firm’s representative on the BDO International Auditing and Accounting Steering Committee on e-Commerce and co-authored the Audit Manual Supplement on e-Commerce Auditing and Accounting Issues.  Maria is an instructor in BDO’s Continuing Professional Education classes and also participates in on-campus speaking and recruiting events.



Stephen DeMarco

Stephen is an Assurance Partner in PwC’s Pharma/Life Sciences practice in Boston with over 23 years of experience working with venture-backed, emerging growth companies as well as large, multinational public life science and technology companies.  Stephen assists his biotech, commercial biotech and medical device clients with the financial and business issues they face throughout their rapid growth cycles and serves his clients with proactive advice and consultation. Stephen has in-depth experience working on many complex client business issues including licensing and collaboration arrangements, product commercialization, revenue recognition, joint ventures,   common stock valuation and mergers and acquisitions.  Stephen has worked with companies raising capital through IPOs, private placements and debt offerings and has assisted numerous companies in addressing SEC reporting and internal control matters.  Stephen also leads PwC’s initiatives in working with venture backed life sciences companies from our Entrepreneurial Services Center in Cambridge.  Stephen is a graduate of Boston College and is a licensed CPA in Massachusetts.

Mike Poirier

Mike is partner in PwC’s Capital Markets & Accounting Advisory Services group in Boston, providing advisory services to clients in such areas as IPO assistance and readiness assessments, carve-outs, debt offerings and private placements, SEC reporting and comment letters, GAAP and IFRS conversions, and complex accounting. Mike joined the group in 2009 after 23 years in PwC's Assurance practice in Boston, where he provided audit services to clients in the high tech industry.  In the Capital Markets advisory practice, Mike now helps his clients access the debt and equity capital markets in the U.S. by providing them with technical and project management advice on the accounting and financial reporting issues associated with the SEC registration process.  Mike's specific technical knowledge focuses on revenue recognition, pro forma financial statements, purchase accounting, carve-outs, segment reporting, income taxes, and the SEC registration process.  In addition, he frequently takes on the role of an IPO Advisor to help his clients with both their initial registration process as well as their process of preparing to operate as a public company. Mike is a licensed CPA in Massachusetts and received a B.S. in Accounting from Providence College. 

Tina Pantaleo

Tina is a Director in Transaction Services in PwC's Boston office. She provides advisory services to clients related to capital market transactions, including SEC reporting matters, debt and equity offerings and IPO readiness and complex accounting under US GAAP and IFRS. Since April 2012, Tina has assisted three companies with preparing their initial public offerings in accordance with the JOBS Act. She has experience working with start-up entities, large private entities and multi-national SEC registrants. Prior to returning to Boston in July 2010, Tina spent 6.5 years working internationally in both Europe and Asia. During her time abroad, Tina advised numerous clients in various industries on U.S. capital market transactions, including IPOs in the U.S. Tina is a licensed CPA in Massachusetts and holds a B.S. in accounting from Bentley University.








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