Services
Overview
Tory Pitkin brings more than 20 years of accounting and auditing experience to ORBA, serving as the firm’s Head of Quality Control. Tory specializes in reviewing financial statements for compliance with generally accepted accounting principles (GAAP), generally accepted auditing standards (GAAS) and other professional standards, including those established by the Public Company Accounting Oversight Board (PCAOB) and the AICPA’s Statements on Standards for Accounting and Review Services (SSARS).
Throughout her career, Tory has utilized her auditing expertise to develop and present training on topics such as risk assessment and the clarity standards. In addition she consults with the firm’s engagement teams on efficiency techniques and assists them in developing appropriate audit responses to identified risks. Tory has authored several responses to proposed changes to the auditing and ethics standards.
Services
Overview
Tory Pitkin brings more than 20 years of accounting and auditing experience to ORBA, serving as the firm’s Head of Quality Control. Tory specializes in reviewing financial statements for compliance with generally accepted accounting principles (GAAP), generally accepted auditing standards (GAAS) and other professional standards, including those established by the Public Company Accounting Oversight Board (PCAOB) and the AICPA’s Statements on Standards for Accounting and Review Services (SSARS).
Throughout her career, Tory has utilized her auditing expertise to develop and present training on topics such as risk assessment and the clarity standards. In addition she consults with the firm’s engagement teams on efficiency techniques and assists them in developing appropriate audit responses to identified risks. Tory has authored several responses to proposed changes to the auditing and ethics standards.
Proactive
Tory relies on her keen attention to detail when handling all client matters. She pairs her auditing expertise with her communications skills to ensure that staff and peers are kept abreast of current developments in accounting principles and engagement standards.
Outside of the Office
Outside of the office, Tory treks to international locations from England to Mongolia and even passed the safari guide qualification exams in South Africa. Locally, Tory continues her explorations as an avid geocacher.
Seminars & Events
- Alternatives to GAAP That Bankers Need to Know, Chicago, IL, January 21, 2020
- Compilation and Review Update, Ohio Society of CPAs Cleveland Accounting Show, October 2019
- Compilation and Review Update, Ohio Society of CPAs Dayton Accounting Show, May 2019
- Risk Assessment Pitfalls, NYSSCPA Private Companies Conference, November 2016
- International Standards on Auditing – AICPA International Business Conference, June 2012
Teaching Experience
- Adjunct Professor, City University of New York, Bernard Baruch College, Zicklin School of Business
Publications
- Doing the Right Thing: The Conceptual Approach to Evaluating Independence, The Trusted Professional, October 2018
- New AICPA Standard Focuses on International Reporting Issues, Going-Concern Considerations, NYSSCPA The Trusted Professional, August 2018
- Doing the Right Thing: When is a Contingent Fee Arrangement Considered an Acts Discreditable?, NYSSCPA The Trusted Professional, January 2015
Certifications & Licenses
- Chartered Global Management Accountant
- Certified Public Accountant
Memberships & Affiliations
- American Institute of Certified Public Accountants
- Accounting and Review Services Committee Member
- New York State Society of CPAs
- Accounting and Review Services Committee Member and Former Chair
- Former Auditing Standards and Procedures Committee Member
- Former SEC Committee Member
- Professional Ethics Committee Member
- Quality Control and Peer Review Committee Member
Education
- B.S., Accounting, Lehigh University
- B.A., History, Bryn Mawr College
Blogs
Now is the Time for Middle Market Companies to Pursue GAAP Alternatives
Frequent, complex changes to accounting standards are making it extremely difficult for many middle market companies to keep pace. Accordingly, many middle market companies are seeking alternatives to GAAP for their financial reporting needs.
Client Alerts
Meeting The Lease Accounting Standard, Head On
Even though the Financial Accounting Standards Board (FASB) pushed back the deadline for private companies and not-for-profit organizations to comply with new lease accounting rules — now applicable for fiscal years beginning after December 15, 2021 and interim periods of fiscal years beginning after December 15, 2022 — organizations cannot afford to let more time pass by before acting on implementation.
Lease Accounting: Road to Compliance Checklist
With the implementation of ASU 2016-02 (Topic 842, Leases) rapidly approaching for private companies and not-for-profit organizations, companies should forge ahead on the road to compliance. The new standard applies to both lessees and lessors and it brings significant changes to balance sheets. The extra time granted by the FASB reflects the mammoth task ahead, which will require more work, more resources and more time than most businesses realize.
In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02, Leases (Topic 842), which applies to both lessees and lessors and results in significant changes to an entity’s balance sheet.
News
Various Media – Victoria Pitkin Featured in the Trusted Profesional
Victoria Pitkin was quoted in the April/May 2018 issue of The Trusted Professional’s article, “Society opposes proposed ethics CPE changes” (pg. 9).
ORBA’s Victoria L. Pitkin was mentioned in the media for being appointed to the Accounting and Review Services Committee of the American Institute of CPAs. Reporting media include CNBC, Yahoo! Finance, Markets Insider, Seeking Alpha, New York Business Journal and Chicago Business News.
ORBA’s Victoria “Tory” L. Pitkin, Jonathan Joseph, Kristin Harrigan and Jessica Wu were mentioned in the media as having joined the firm’s Quality Control, Tax and Audit Departments. Reporting media include Yahoo! Finance, MarketWatch and CNBC.
CHICAGO — Ostrow Reisin Berk & Abrams, Ltd. (ORBA), one of Chicago’s largest public accounting firms, is pleased to announce that Victoria L. Pitkin has been appointed to the prestigious Accounting and Review Services Committee (ARSC) of the American Institute of Certified Public Accounts (AICPA), effective February 1, 2018.
CHICAGO — Ostrow Reisin Berk & Abrams, Ltd. (ORBA), one of Chicago’s largest public accounting firms, is pleased to announce that Victoria L. Pitkin has been appointed as Chair of the Accounting and Review Services Committee of the New York State Society of CPAs (NYSSCPA), effective June 1, 2017.
ORBA Welcomes New Hires to Quality Control, Tax and Audit Departments
CHICAGO — Ostrow Reisin Berk & Abrams, Ltd. (ORBA), one of Chicago’s largest public accounting firms, is proud to welcome Victoria “Tory” L. Pitkin to its Quality Control Department; Jonathan Efrem Joseph, CPA, CGMA, JD, MBA to its Audit/Tax Department; and Kristin Harrigan and Jessica Wu to its Audit Department.