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Linda MacDonald

Senior Managing Director

Ankura Consulting Group

750 Third Avenue, 28th Floor, New York, NY 10017
linda.macdonald@ankuraconsulting.com
Main: +1.646.291.8593
Mobile: +1.203.979.4860

Education

MBA, American University
BA, Albion College

Certifications

Certified Public Accountant

Affiliations

American Institute of Certified Public Accountants (AICPA)

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Linda MacDonald is a Senior Managing Director of Ankura Consulting Group. Ms. MacDonald is based in New York, NY and is part of Ankura’s Investigations and Advisory Services practice. Ms. MacDonald has nearly 30 years of professional experience and is a recognized expert in financial accounting and reporting.

Ms. MacDonald’s experience includes nearly 12 years with the Financial Accounting Standards Board (FASB), the last three of which she was a Director. While at FASB, Ms. MacDonald was involved in establishing U.S. Generally Accepted Accounting Principles (GAAP) and led the projects that established the FASB’s accounting standards for fair value measurements, asset impairments, discontinued operations, restructuring activities, and liability recognition. Ms. MacDonald also worked with the International Accounting Standards Board (IASB) on convergence of U.S. GAAP with International Financial Reporting Standards (IFRS).

Ms. MacDonald’s experience also includes being a member of the staff of the Enforcement Division of the U.S. Securities and Exchange Commission (SEC) in Washington, D.C., where she worked on investigations into potential violations of GAAP and Generally Accepted Auditing Standards (GAAS) involving SEC registrants and other parties. Ms. MacDonald started her career as an auditor with a national public accounting firm in Washington, D.C. (now Deloitte & Touche).

Before joining Ankura, Ms. MacDonald spent eight years with FTI Consulting, where she was a Senior Managing Director in the Forensic and Litigation Consulting segment based in New York.

Ms. MacDonald’s practice encompasses consulting and expert witness services on a broad range of matters involving financial accounting and reporting, including assisting counsel and entities with regulatory enforcement investigations, internal and forensic accounting investigations, and civil litigation. Ms. MacDonald also advises SEC registrants on technical accounting matters involving the SEC’s Office of the Chief Accountant, Division of Corporation Finance, Division of Investment Management, and Office of Compliance Inspections and Examinations.

Ms. MacDonald’s Professional Experience includes:

Expert Witness Testimony

  • Federal National Mortgage Association Securities, Derivative, and “ERISA” Litigation. Retained by counsel for FNMA to provide expert testimony relating to the application of GAAP to derivatives and hedging transactions.
  • Hedge Fund Arbitration. Retained by counsel for a hedge fund to provide expert testimony relating to related party transactions involving the fund.
  • Private Equity Litigation. Retained by counsel for a private equity firm to provide expert testimony relating to the GAAP valuation of stock purchase warrants granted by a portfolio company.
  • IndyMac SEC Litigation. Retained by counsel for the former CEO and Chairman of IndyMac Bancorp, Inc. and its wholly-owned subsidiary, IndyMac Bank, F.S.B., to provide expert testimony relating to the application of GAAP to a capital transaction between the holding company to the bank.
  • BankAtlantic Bancorp SEC Litigation. Retained by counsel for BBX Capital Corporation and its CEO and Chairman to provide expert testimony relating to the application of GAAP to commercial residential real estate loans.
  • Credit Suisse RMBS Litigation. Retained by counsel for Credit Suisse to provide expert testimony relating to GAAP losses attributable to alleged misstatements and omissions in offering documents for residential mortgage-backed securities.

Litigation Support

  • GAAP/IFRS Valuation. Retained by counsel for a financial institution to provide expert support in RMBS litigation alleging issues relating to the GAAP/IFRS valuation of residential mortgage-backed securities.
  • Loan Impairment. Retained by counsel for a mortgage lender to provide expert support in FDIC litigation alleging the improper application of GAAP to mortgage loans held for investment.
  • Asset Impairment. Retained by counsel for a home builder to provide expert support in civil litigation alleging the improper application of GAAP to long-lived assets held by the home builder.

Regulatory Enforcement Investigations

  • Distressed Debt Investments. Retained by counsel for an off-shore hedge fund to assess and respond to issues relating to the application of GAAP/IFRS to distressed debt investments held by the fund in connection with an investigation by the SEC’s Division of Enforcement.
  • Fund Investments. Retained by counsel for an investment fund to assess and respond to issues relating to the application of GAAP to structured product investments in connection with investigations by the SEC’s Division of Enforcement and CFTC.
  • Goodwill Impairment. Retained by counsel for a marketing company to assess and respond to issues relating to the application of GAAP to goodwill and other accounting matters in connection with an investigation by the SEC’s Division of Enforcement.
  • Contract Accounting. Retained by counsel for the Audit Committee of a company in the aerospace industry to assess and respond to issues relating to the application of GAAP to commercial contracts and other accounting matters in connection with an investigation by the SEC’s Division of Enforcement.
  • Revenue Recognition. Retained by counsel for an internet services provider to assess and respond to allegations of improper revenue recognition practices and other accounting matters in connection with an investigation by the SEC’s Division of Enforcement.

Internal and Forensic Accounting Investigations

  • Revenue Recognition. Retained by counsel for the Audit Committee of a multinational engineering firm to investigate whistleblower allegations of improper revenue recognition practices and other accounting matters.
  • RMBS Investments. Retained by counsel for the Audit Committee of a REIT to assess and respond to issues raised by its outside auditors relating to the application of GAAP to residential mortgage backed securities held for investment by the REIT.
  • Embezzlement. Retained by counsel for a health care facility to investigate whistleblower allegations of accounting fraud by a third-party debt collector for the health care facility.

SEC Advisory

  • Investment funds. Retained by counsel to assess and respond to issues relating to application of GAAP in connection with filing reviews by the staff in the SEC’s Division of Investment Management and examinations by the staff in the SEC’s Office of Compliance Inspections and Examinations.
  • Other SEC registrants. Retained by counsel to assess and respond to issues relating to the application of GAAP in connection with filing reviews by the staff in the SEC’s Division of Corporation Finance and to advise on enhancements to accounting policies and procedures.

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