Gary B. Goolsby, CPA
- Senior Managing Director
- T: +1 713 353 5442
- F: +1 713 353 5459
- First City Tower
- 1001 Fannin, Suite 3950
- Houston, TX, 77002
- United States
- T: +1 800 349 9990
- F: +1 713 353 5459
- B.S., Accounting, Louisiana Tech University
- M.B.A., Louisiana Tech University
- Certified Public Accountant, Texas and Louisiana (CPA)
- Certified in Financial Forensics (CFF)
- American Institute of Certified Public Accountants (AICPA)
- American Bar Association, Associate Member
- Member of International Bar Association
- Texas Society of Certified Public Accountants
- Accountant Liability
- Accounting & Risk Management
- Expert Testimony
- Foreign Corrupt Practices Act (FCPA)
- Forensic Accounting & Investigations
- Energy, Power & Products
- Financial Institutions
Gary Goolsby is a Senior Managing Director at FTI Consulting in the Forensic & Litigation Consulting segment and is based in Houston. Mr. Goolsby has 43 years of experience in accounting and auditing, risk management, resolving auditor malpractice allegations, investigations, governance, internal controls and business processes, board of directors and regulatory interactions, executive management, expert witness testimony and case consultancy and technical presentations.
Mr. Goolsby has provided professional services to many industries including oil and gas exploration, development, services, refining; mining; financial institutions including brokerage, banks, savings and loans, mortgage banking, insurance; construction and real estate. In addition to serving clients in North America, Mr. Goolsby has experience on a global basis assisting with business and regulatory issues in Asia, Europe and Latin America. He has also served on various U.S. and global committees with representatives from other major professional services firms focusing on ethics, banking, financial reporting, auditing and risk management issues. Mr. Goolsby has made numerous presentations during his career covering a wide range of financial reporting, risk and investigation issues. He has also previously served as liaison to the Professional Liability Litigation and Energy Litigation Committees of the American Bar Association Section of Litigation.
Mr. Goolsby’s experience includes involvement in the resolution of various business, accounting, auditing or disclosure issues relating to, among others, revenue recognition, going concern and liquidity, whistleblower allegations, alleged fraud, management integrity and credibility, fraudulent transfers, purchase accounting, retirement plans, financial instruments, stock options, loan loss reserves, inventory, income taxes, forecasts, bank asset/liability management, financial institution regulatory capital requirements, governance, internal control weaknesses, SEC and financial institution regulatory filings, alleged illegal acts (including anti-corruption) and various types of contingencies. This experience was gained during many crisis periods including the banking, savings and loan and real estate difficulties in the late 1980s and early 1990s; oil and gas industry downturn during the mid-1980s; Asian real estate and financial crisis during the late 1990s; Mexico peso valuation issues during the mid-1990s; bull and dot com market during the late 1990s and financial crisis during the late 2000s. Mr. Goolsby has met frequently with audit committees, boards of directors, Department of Justice, Securities and Exchange Commission and financial institution regulators, discussing these various issues.
Mr. Goolsby’s investigation experience includes, among others, investigating inappropriate accounting for income taxes; Ponzi scheme transactions; inappropriate use of investor funds for condominium project; accounting irregularities related to transactions of a company in China; transactions of U.S. energy companies with other non-U.S. companies; claims related to political risk insurance; accounting irregularities related to revenue recognition; oil and gas partnership accounting; pricing of crude oil purchases; inappropriate behavior by management; misleading forward guidance; violations of anti-corruption regulations including Foreign Corrupt Practices Act, sanction country and United Nations Iraq Oil for Food Program; and inappropriate accounting for granting and pricing of employee stock options. These engagements have involved analyzing company documents; understanding company internal controls and processes; tracing of transactions; interviewing personnel; and interacting with and making presentations to company executive management, internal and external auditors, audit and special committees of the board of directors, Securities and Exchange Commission Enforcement Division, Office of Foreign Asset Control and Department of Justice.
He has also provided expert testimony relating to fraudulent transfers, auditor professional malpractice, governance, internal controls and processes and accounting for hydrocarbon products. He has provided consultation on various cases including auditor professional malpractice.
Prior to joining FTI Consulting, Mr. Goolsby was a Managing Director for 5 years in the Disputes and Investigations practice of Navigant Consulting. Prior to Navigant Consulting, he served in executive level positions of Chief Financial Officer and President for a Houston financial services company. Mr. Goolsby’s career also included 28 years (18 years as a Partner) with Arthur Andersen as an audit and leadership partner.