Patty is an experienced finance and accounting professional with over 25 years of experience. She brings a wealth of knowledge working with both public and private entities ranging from venture-backed start-up enterprises to multinational public companies. Patty’s expertise includes SEC reporting requirements, IPO preparation and technical accounting including expertise in the areas of revenue recognition, business combinations, convertible debt, stock-based compensation, and other equity arrangements (preferred stock classification, beneficial conversion, warrants), derivatives (including embedded derivatives assessment) and hedge accounting. Patty’s industry experience is varied and she has served clients in the technology, life sciences, retail, distribution, and consumer products manufacturing industries. Patty also has extensive experience working with companies through their initial audits, identifying issues with historical accounting, and bringing clients in compliance with US GAAP. Patty also successfully serves as an active liaison between her clients and their external auditors and third-party specialists in order to reach consensus and resolution on audit and accounting matters.
Recently, Patty has worked with a large private equity investor in assisting two of its investment companies. For one of the companies, which consummated multiple acquisitions in a single year, Patty oversaw a Kranz team that assisted the company with the completion of its initial audit. The Kranz team effort included preparation of technical accounting position papers, operational accounting assistance including a multi-level consolidation, preparation of multiple sets of financial statements, and project management of the Company’s activities associated with the audit. For the other company, which was being sold to a public registrant, Patty led a team that prepared the various financial statements needed for inclusion in the acquirer’s Form 8-K Filing. Patty has also recently worked with an entity to address and recast its revenue recognition, to review the monthly close processes as well as to assist the entity through its audit for the fiscal year.
Prior to joining Kranz, Patty was a partner at Deloitte & Touche, LLP where she served as an audit partner for clients in the internet-media technology, life sciences, and technology products distribution industries. Patty also served 3 years as a partner in Deloitte’s National Office assisting public client audit engagement teams on various audit quality initiatives. During her tenure with Deloitte, Patty also served as a subject matter expert in a variety of technical areas, including share-based compensation, fair value accounting, the Internal Control Audit, and also served as a regional PMO leader regarding Sarbanes-Oxley legislation and its impacts on public company audits. Patty also served 2 years as a member of Deloitte’s Global Markets practice where she assisted clients with issues relating to the application of the derivatives and hedge accounting standard.
Patty was born and raised in San Francisco, California, and graduated from the University of California, Berkeley, and is an active CPA in California. Patty enjoys international travel and being able to practice her language skills, spending time with her family, and following the Bay Area’s major sports teams.