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Vol 12, Num 3 l October 2015

Financial Advisors and Investment Banking - an ABI Committee Newsletter

► In This Issue:

Gaining a Clear View of IT Security in a Health Care Organization

ABI

David Reitzel
Grant Thornton LLP
Chicago

ABI

David A. Rock
Grant Thornton LLP
New York

There is much in the booming health care industry to entice an acquisition or integration. The boom has been accompanied by vast amounts of data digitized as electronic health records and myriad other formats. This data adds great value to health care organizations. Because of its value, data merits exacting protection from loss of any kind. The person keeping a finger on this particular pulse is the organization’s CIO.

Vulnerability Has Increased Along with Data   

IT and data security is the prime responsibility of a health care CIO. The CIO is in charge of the controls over collection, maintenance and safeguarding of all data relating to patients, treatments, operations, purchasing, billing, HR and compliance. In today’s world, everything that goes into running a health care organization is digitized for accessibility. Accessibility brings convenience for use and analysis, but is also susceptible to harm through carelessness and theft. While employee mistakes — carelessness in sending or storing data, and losing laptops and cellphones — are still much to blame for loss of data security, cybercriminals are posing the most imminent danger.

Adding to this is the fact that the focus of much of the key personnel in health care organizations is on patient care, not on business. In taking care of patients, including handling emergencies, professionals might forgo even simple actions like locking their computers.
» Read More

Fraud Detection Methods Focusing on Lifestyle

Alan D. Lasko
Alan D. Lasko & Associates, P.C.
Chicago

In November 2012, former Comptroller, Rita Crundwell of Dixon, Illinois pleaded guilty to embezzling $53 million from City accounts.  Crundwell worked as Comptroller of this small City since the early 1980s, and "was the only person who controlled the City's finances and funneled public money to her secret, private accounts."  Crundwell had spent primarily, in part, these monies on a $2 million custom RV, a Florida vacation home, and a world-class horse breeding farm with 400 horses.
» Read More

Winter Leadership Conference Committee Session

The Financial Advisors & Investment Banking and Technology & Intellectual Property committees will be joining forces to present the session titled You Are Selling My What? Valuation and Sale of Intellectual Property and Customer Information by a Distressed Company, on Friday from 11:00 am – 12:45 pm. The session’s crew of speakers includes Seth Van Aalten (Cooley LLP; New York), J. Scott Victor (SSG Capital Advisors, LLC; Conshohocken, PA), and Hon. Brenda Moody Whinery (U.S. Bankruptcy Court for the District of Arizona, Tucson Division).

The committee will also be hosting their popular event, Breakfast with the Judges, on Saturday morning.

Register today to reserve your seat!

Learn More about CARE - And Get Involved

CARE

Want to pass your financial knowledge and wisdom to the next generation? Get involved with CARE! Founded in 2002, the Credit Abuse Resistance Education (CARE) program seeks to educate high school and college students on the responsible use of credit and other fundamentals of financial literacy, as well as the potential consequences of poor money management and credit card abuse. Want to learn more and volunteer with the organization?
Visit our website care4yourfuture.org or contact Anna Flores and Charles Bowles

Complex Financial Restructuring Program

 

ABI’s Complex Financial Restructuring Program is unique. It goes beyond financial and legal theory and takes a practical look into the strategies of restructuring professionals: attorneys, investment bankers and financial advisors. This day-long program, based on a real case study of a troubled company’s efforts to reorganize, will provide insight and practical advice on how to deal with the ethical dilemmas, strategic decisions and negotiations that are part of the day-to-day reality of restructuring practice. If you advise clients on restructuring issues, you can’t afford to miss this one-of-a-kind program. Register now.

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