Seth Friedman
Partner | New York
Seth Friedman

Seth Friedman, co-chair of Dechert’s accounting defense practice, represents U.S. and international accounting firms and individual accountants in connection with federal and state litigation; arbitration; and regulatory investigations by the U.S. Securities and Exchange Commission (SEC), the Public Company Accounting Oversight Board (PCAOB), state licensing authorities and the American Institute of Certified Public Accountants.

In addition to litigation and regulatory investigations, Mr. Friedman regularly advises major accounting firms and other entities on state licensing, ownership and independence-related questions, PCAOB registration requirements and inspection matters, internal investigations and other risk-related issues. He handles matters for accounting and consulting firms that arise from engagements to perform attest functions (both public and private), tax advice and compliance functions, and consulting or advisory work.

Mr. Friedman also counsels accounting firms and private equity clients on regulatory issues arising from complex corporate transactions. He advises on applicable accounting laws and regulations, including the development and implementation of alternative practice structures and Employee Stock Option Plans, and advises firms and engages with the SEC and State Boards of Accountancy on auditor independence and other regulatory matters.

Prior to joining Dechert, Mr. Friedman co-led the accounting liability practice at other global law firms. He also previously served more than six years in the Offices of the General Counsel of two major U.S. accounting firms, first as an assistant general counsel with KPMG U.S. and subsequently as deputy general counsel at BDO USA.

  • Successfully represented multiple auditing and consulting firms in connection with state and federal litigation, including recent significant victories at the motion to dismiss and motion for summary judgement states in state and federal courts.
  • Successfully represented multiple major U.S. public audit firms and individual professionals in connection with investigations by the Divisions of Enforcement of the SEC, PCAOB, and U.S. Department of Justice regarding matters related to a range of federal laws, SEC and PCAOB rules and regulations, Generally Accepted Accounting Principles, Generally Accepted Auditing Standards, and PCAOB standards.*
  • Served as lead trial counsel in hearings before administrative law and party-selected neutral arbitrators in civil and regulatory disputes involving complex accounting and auditing, privity, causation and damages issues.*
  • Successfully represented multiple major accounting firms in connection with federal securities litigation involving claims under Sections 10(b) and 11 of the Securities. Exchange Act, and in state court litigation and arbitrations arising from audit, tax, and consulting/advisory engagements.*
  • Successfully represented several foreign public audit firms and their professionals in connection with various litigation and regulatory matters, including investigations by the SEC and PCAOB Division of Enforcement.*
  • Successfully represented numerous audit firms and accounting professionals in connection with investigations by state licensing authorities and the AICPA.*
  • Regulatory counsel to a leading advisory and consulting firm that operates in an alternative practice structure in connection with the acquisition of one of the United States’s largest public accounting firms.*
  • Regulatory counsel to outside investor in a completed accounting firm alternative practice structure transaction.*
  • Regulatory counsel to a major U.S. accounting firm relating to establishment of an Employee Stock Ownership Plan.*
  • Regulatory counsel to multiple private equity firms and accounting firms in connection with alternative practice structured investments.*

*Includes matters handled prior to joining Dechert.

  • Chambers USA, Accountant and Auditor Liability, Band 1, 2025
  • Legal 500 US, Recommended Lawyer, 2022 and 2023-2025
Services
    • Binghamton University, B.A., 1995, magna cum laude
    • Georgetown University Law Center, J.D., 1999
    • New York
    • Supreme Court of the United States
    • United States District Court for the Eastern District of New York
    • United States District Court for the Southern District of New York
    • United States District Court for the Southern District of Florida
    • New York State Bar Association
    • American Bar Association

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