A liquidation may present several obstacles to be navigated by the organization, one such obstacle being the accounting.

The challenge of liquidation basis of accounting

Fund managers are typically responsible for the preparation of financial statements of their underlying investment, in accordance with ASC 946, which requires the valuation of investments under ASC 820 – Fair Value Measurements.

Accounting for equity interests other than the consolidation model

Matthew O’Rourke is a principal in the financial services assurance practice in Baker Tilly’s New York regional office. Matt has more than 10 years of experience in accounting and auditing for both public and privately held companies including U.S. GAAP and SEC reporting requirements.

He serves as the firm’s asset management professional practice liaison, which includes responsibility and oversight over technical and general assurance matters impacting the firm’s asset management practice.

Matthew is a principal in the financial services assurance practice in the New York regional offices of Baker Tilly.  

Bachelor of Science in finance and economics

Tulane University (New Orleans, Louisiana)

Significant experience includes investment companies and alternative asset funds, registered investment advisers, both carrying and non-carrying broker-dealers and related financial service entities

Experience includes developing audit approaches for entities with complex capital structures and as well as developing testing approaches over Level 3 investments under ASC 820 – Fair Value Measurements

Speaker, providing in-house technical training seminars and continuing professional education to internal staff on various accounting and auditing matters

Involved in firm-wide development of asset management and broker-dealer audit templates and training material

American Institute of Certified Public Accountants (AICPA)

New York State Society of Certified Public Accountants (NYSSCPA)

Join Baker Tilly for our annual year-end webinar where we take a deep dive into the asset management industry, reviewing key topics from 2024 and looking ahead into 2025. This webinar will provide a high-level overview of key trends, developments and hot topics to consider when preparing for the new year.  Our specialists will be covering hot topics such as financial crimes, important tax updates and risk updates.  Learning objectives:   Asset management overview:   Review updates in private equity as well as mergers and acquisitions landscape  Tax updates  Discuss changes and outcomes from the presidential election   Understand effects of expiring previsions and proposed legislation  Cybersecurity   Review and understand the current trends and risks in the cybersecurity landscape that organizations face  Discuss of the current state of regulations and outlook for the future    Understand key action items that can be taken to reduce the cyber risks that your organization faces  Fund administration   Lessons learned from fund administrators   Updates and challenges from the back office   Review private fund rulings  Accounting and auditing  Review venture capital market and valuation trends from 2024 going into 2025  Understand status of the SEC’s Special-Purpose Broker-Dealers for the Custody of Digital Asset Securities and challenges of establishing a clearing brokerage  Analyze current state of the SEC’s custody exam option for satisfying the custody rule  Information about CPE eligibility  There are no prerequisites for this webinar, and advance preparation is not required. There is no cost to attend this webinar. A certificate of completion will be emailed to you four to six weeks after the event.  Level: Overview  CPE credit: One (1) hour total credit  Field of study: Specialized Knowledge  For more information regarding administrative policies such as complaint and refund policies, please email learning@bakertilly.com.  Baker Tilly is registered with the National Association of State Boards of Accountancy as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: nasbaregistry.org. 

Matthew O'Rourke

Location

New York, NY

Education

Expertise

Matthew's latest insights

The challenge of liquidation basis of accounting

Accounting for equity interests other than the consolidation model

Matthew's upcoming events

Webinar

2024 Annual year-end asset management overview