Lisa Rachels

Lisa is a Director in Protiviti’s Business Performance Improvement practice in the Metro NY region with over 25 years of experience in technical accounting, SEC reporting, internal controls, and regulatory audit quality.  She specializes in advising public and pre-IPO companies on complex accounting matters, financial reporting, and compliance with U.S. GAAP and SEC requirements.

Beyond her core technical accounting and financial reporting expertise, Lisa brings significant experience supporting ICFR readiness initiatives and navigating complex public company reporting environments, informed and strengthened by her tenure with the PCAOB, where she gained deep insight into regulatory expectations, audit quality, and other ICFR matters.  She has significant expertise in material weakness remediation, including performing root cause analyses and designing sustainable corrective actions. Her experience also includes SOX transformation initiatives, with a focus on control design and optimization, as well as supporting restatements and regulatory investigations for complex public company situations.

Major Projects

• Led technical accounting and SEC reporting engagements for public and pre-IPO clients across diverse industries, delivering end-to-end advisory support across complex reporting environments and ensuring alignment with U.S. GAAP and SEC requirements.
• Advised clients on the interpretation and application of complex accounting standards (ASC 842, ASC 606, ASC 805, ASC 350, ASC 360, ASC 280), including evaluation of technical positions, preparation of accounting memos, and alignment with evolving disclosure expectations.
• Supported the adoption of new accounting standards through comprehensive impact assessments, development of detailed implementation roadmaps, and preparation of transition disclosures, including recent guidance such as ASU 2023-07, ASC 842, and ASC 606.
• Prepared and/or reviewed SEC filings, including Forms 10-K, 10-Q, and 8-K, as well as registration statements (S-1 and S-4), and led responses to SEC comment letters, ensuring accuracy, completeness, and compliance with regulatory expectations.
• Developed and implemented accounting policies and technical position papers related to complex transactions, including business combinations, impairment analyses, and other high-judgment accounting areas, supporting audit readiness and defensibility of conclusions.
• Supported end-to-end material weakness remediation projects, including root cause analysis of control failures and design and implementation of sustainable corrective actions, while advising on SOX program transformation, including scoping, risk assessment, and optimization of control frameworks.

Areas of Expertise

• Finance & Accounting
• Technical Accounting
• Financial Reporting
• SEC Reporting
• Internal Controls
• Sarbanes-Oxley
• Risk Assessment & Root Cause Analysis
• Remediation and Compliance
• IPO Readiness
• Audit & Regulatory Support

Industry Expertise

• Financial Services
• Industrial Services
• Consumer Products

Education

• B.S. – Accounting, Coastal Carolina University

Professional Memberships and Certifications

• Certified Public Accountant (CPA)
• Member, American Institute of CPAs