Thomas Terranova - BDO New York

Thomas Terranova

Managing Director

CPA, CFF, CFE

BDO New York - Park Avenue Office

212-885-7229

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Executive Summary

Thomas Terranova is a managing director within BDO’s Forensic Accounting and Investigations practice. He has more than 17 years of experience in public accounting. Tom advises counsel and accounting firms in the defense of accountants’ professional liability malpractice claims, conducts internal corporate investigations relating to alleged financial reporting irregularities, advises companies and their counsel on complex accounting and financial reporting disputes that are the subject of securities litigation, and directs other forensic accounting matters. 

Tom advises counsel on behalf of Big Four and other national accounting firms on the evaluation of allegations pertaining to violations of professional standards, including Generally Accepted Auditing Standards (GAAS) and Public Company Accounting Oversight Board (PCAOB) standards. He analyzes malpractice claims and identifies potential defenses and weaknesses, writes expert reports, assists counsel in drafting court filings, and prepares experts for deposition and trial testimony.   

Tom also works with counsel on behalf of audit committees to investigate alleged illegal acts and financial reporting irregularities. He conducts interviews of witnesses, advises counsel on the application of Generally Accepted Accounting Principles (GAAP) and Securities and Exchange Commission (SEC) rules and regulations, and presents findings to audit committees and other parties.   

Tom also advises companies and their counsel in connection with securities litigation matters that involve complex accounting and financial reporting issues. He has significant experience evaluating accounting issues and the application of GAAP related to revenue recognition, variable interest entities, business combinations, accounts receivable, contingencies, and multiple-element arrangements.

Tom has a widearray of industry experience which includes software, medical devices, banking, pharmaceutical, technology, and manufacturing.

Professional Affiliations

American Bar Association (Professional Liability Litigation and Securities Litigation Committees)
American Institute of Certified Public Accountants
Association of Certified Fraud Examiners
New York State Society of Certified Public Accountant

Education

B.S., Accounting, Finance, and Internal Auditing, State University of New York at Buffalo