The company was founded in 2001 by Richard Stokes and Michael Walworth recognizing their clients’ need for high quality, engaging accounting training by professionals with “real world experience. The company’s name, GAAP Seminars, as well as the logo, website and other marketing copy, was adopted when Lisa Fernihough joined the team shortly thereafter. Bob Laffler joined the firm in 2004 and, together with Richard, Michael and Lisa, formed the leadership of the company. After Lisa Fernihough's departure in March of 2011, Richard, Michael and Bob remain leaders of the company.
Although we occasionally offer “open-enrollment type seminars, mainly in cooperation with accounting firms or accounting associations, our main focus is in-house training. GAAP Seminars specializes in the design, development and facilitation of tailored finance and accounting training solutions to companies and accounting firms at a location of their choice (i.e. in-house training). Business units, products, personnel, and key accounting issues are considered when designing and developing course materials. Our courses are not “plain vanilla or “off-the-shelf, but rather tailored to the individual needs of our clients.
We are experts in the application of International Financial Reporting Standards (IFRS) and U.S. generally accepted accounting principles (U.S. GAAP) and our courses are continually updated to reflect recent developments. Extensive knowledge of worldwide accounting standards helps us to develop customized seminars comparing local GAAP to either U.S. GAAP or IFRS. In addition, we have “real-world industry-specific experience with banks and other financial institutions, insurance and reinsurance companies, and investment companies and private equity funds.
In addition to accounting training, we have delivered seminars covering:
- Compliance with regulations mandated by the Securities and Exchange Commission (SEC)
- Understanding the requirements and impact of the Sarbanes-Oxley Act
- Ensuring compliance with Public Company Accounting Oversight Board (PCAOB) requirements, U.S. generally accepted auditing standards (U.S. GAAS) and International Standards on Auditing (ISA), including the differences between them
- Applying modern valuation techniques used in assessing fair values and related impairment issues
Since its formation, GAAP Seminars has served multinational and accounting firms in over 55 countries. Its recent clients include premier companies such as The Bermuda Monetary Authority, The Coca-Cola Company, Cooper Companies, Hanover Insurance Group, KPMG International and its member firms, Philips Electronics and Procter & Gamble.
Whether you desire a one-day update, a continuing professional education program on an ongoing basis, or a full-scope, tailored accreditation program, put our experience to work for you.