IFRS, IPSAS and GAAP Consulting
Steven L. Henning, Ph.D., CPA, is the Partner-in-Charge of the Financial Advisory Services Group at Marks Paneth LLP. He also serves on the Executive Committee of the firm. He has more than 20 years of experience in public accounting, securities litigation, consulting related to US Generally Accepted Accounting Principles (US GAAP), International Financial Reporting Standards (IFRS) and International Public Sector Accounting Standards (IPSAS) as well as teaching at the university level.
Dr. Henning provides litigation consulting and expert witness services and assists boards of directors and senior executives in understanding and complying with regulations of the United States Securities and Exchange Commission (SEC) and other financial reporting requirements. His work in this area includes helping foreign private issuers to register and list their shares in the United States, responding to SEC comment letters and seeking SEC preclearance on reporting issues, conducting accounting training sessions for the personnel of multinational companies and consulting on issues such as fair value, among others.
His distinguished career spans the regulatory arena as well as public accounting, corporate finance and academia. He has worked as an audit manager for a Big Four accounting firm and as a manager of acquisitions and corporate financial planning for a global provider of logistics and transportation solutions.
He is also an accomplished educator, having served as an accounting professor for several years at the University of Colorado and, most recently, at Southern Methodist University. Throughout his academic career, he received several teaching awards and published numerous articles.
Notably, Dr. Henning earned the honor of serving as an Academic Fellow in the Office of the Chief Accountant at the SEC. In this role, he consulted with companies on registrant issues and provided guidance on rule making.
Dr. Henning is a member of the Listing Qualifications Panel of the National Association of Securities Dealers Automated Quotation System (NASDAQ), a group of independent experts that makes the final determination of listing status on appeal after a company has been delisted by NASDAQ. He is also a past member of the SEC Regulations Committee, which acts as the primary liaison between the accounting profession and the SEC on technical matters relating to SEC rules and regulations. He is a member of the firm's Executive Committee, which sets policy and strategy.
Dr. Henning has contributed to numerous industry publications and journals. Most recently, he was quoted extensively on the topic of IFRS and the current financial crisis in an article entitled "The Future of Accounting Principle" in the February 2009 issue of Financier Worldwide magazine. He also is involved in IFRS and IPSAS training.
In addition to his extensive professional involvement, he serves on the board of directors of the Center for Advanced Technologies, a nonprofit organization that advances knowledge about valuing and monetizing intellectual property. He is also active as a youth athletics coach in his hometown.
Dr. Henning holds both a Ph.D. and a Bachelor of Business Administration from the University of Wisconsin and a Master in Business Administration from the University of Miami. He is licensed to practice public accounting in New York and Wisconsin. He is based in the firm's midtown Manhattan headquarters.