2/4/02 Another Enron repercussion: Liaison group formed to assist CPA firms with troubled-company clients

Alameda CA-January 28, 2002-When a CPA firm represents a troubled company, the accountants can easily become the ones in big trouble.

The news coming out of the Enron mess is shocking. What happens when even Arthur Andersen, considered one of the best CPA firms in the world, gets involved in such scandals? Historically, there are many negative repercussions befalling those CPA firms and the insurance companies insuring them.

Chuck White, former Big 5 CPA and a Senior Director of SageGroup Strategies, stated, "Most CPA firms are quite concerned about the Enron, Sunbeam, and other such episodes. CPA firms need to find ways to reduce their exposure to such disasters and the subsequent lawsuits. One important step is to make sure that the troubled companies they represent receive the absolute best in professional help available, including using Professional Troubled-Company Specialists."

During these trying times, and in continuing support of the CPA profession, SageGroup Strategies (SGS) announced today the formation of a CPA Firms Liaison Group. Liaison Group representatives are presently based at many of the SGS offices nationally. Through the Liaison Group, SGS offers all CPA firms the opportunity to work jointly with SGS on troubled companies in a win/win, positive, coordinated and cooperative manner. SGS, known for its discreet handling of troublesome corporate situations, has already established relationships with many CPA firms and plans to proactively increase this number.

Mark Fowler, CMC, CPA, President of Stowe Management Corporation, noted, "Stowe Management has specialized for twenty five years in consulting with CPA firms and their clients.  We often work with CPA firms to help their troubled clients.  We strongly advocate that CPA firms strategically resource to assist their clients.  Conversely, we outsource ourselves and plan to refer many opportunities to SGS.  We have a good relationship with SGS and believe clients will receive quality assistance."

SageGroup Strategies is the largest Professional Troubled-Company Specialist firm in the United States and the World. Notably experienced and knowledgeable, SageGroup prides itself on being very discreet, working with absolute confidentiality and behind the scenes whenever necessary. They have been involved in hundreds of troubled-company situations, including: turnarounds, crisis management, debtor programs, spinouts, restructurings and reorganizations. As part of its strict confidentiality policies, SageGroup has never disclosed or publicized the names of their clients.

More information is available at www.SageGroupStrategies.com

CONTACT:
Mr. Jerry Jennings
Emerson Gerard Associates
Boynton Beach FL
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