Insights

David B. Smith Joins DLA as Partner in the Firm’s Forensic, Valuation and Litigation Support Group

DLA, LLC (“DLA”), an Internal Audit, Accounting & Corporate Finance Advisory Firm headquartered in the New York Metro area, is excited to announce the addition of David B. Smith, CPA/ABV/CFF, ASA, as a Partner in the Firm’s Forensic, Valuation and Litigation Support (FVLS) group. David has over 30 years of business advisory expertise in litigation support, economic damage analysis, forensic accounting, and business valuation and has testified numerous times as an expert witness on a broad array of disputes in both State and Federal Courts, and in arbitration proceedings. “The experience that David brings to DLA is immeasurable,” states David Landau, DLA’s Founder & CEO. “David is a skilled expert witness in the areas of matrimonial and commercial litigation. I am honored that David chose to join DLA and look forward to having him on our team.”

DLA, LLC Announces 2021 Fall Promotions

DLA, LLC (“DLA”), an Internal Audit, Accounting & Corporate Finance Advisory Firm headquartered in the New York Metro area, is excited to announce the promotion of several employees. David Landau, Founder & CEO states, “As a company, we strive to promote from within. We look at our employees who are ambitious and have a strong desire to advance and grow in their positions. We encourage team members to think big when it comes to DLA and their own personal career growth." “Each of these staff members have shown drive, dedication, and commitment to our clients and each other. I have no doubt that they will continue to excel and exceed our expectations in their new roles,” adds Phil Ramacca, DLA President & COO.

Restating Financial Results

In the first half of 2021, there was a surge in financial restatements. The reason relates to guidance issued by the Securities and Exchange Commission, requiring special purpose acquisition companies (SPACs) to report warrants as liabilities. SPACs are shell corporations that are listed on a stock exchange with the purpose of acquiring a private company, thereby making it public without going through the traditional IPO process. Historically, SPACs that offer warrants (which allow investors buy shares at a set price in the future) have reported those instruments as equity.