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Daniel Coleman
Partner at Ernst & Young LLP
Professional Background
Dan Coleman is a seasoned auditor with over 25 years of extensive experience primarily focused on the life sciences industry. His career has spanned a diverse range of clients, from emerging venture-backed private companies to large multinational organizations, showcasing his versatile expertise in navigating complex accounting challenges. Dan's role at Ernst & Young LLP, where he serves as a Partner and co-lead for the West Coast implementation of ASC 606, positions him as a pivotal figure in the field of accounting, specifically in the life sciences sector.
Throughout his illustrious career, Dan has authored various publications for Ernst & Young that tackle critical accounting matters such as revenue recognition issues, particularly in relation to collaborative arrangements—a significant aspect for many companies within the life sciences industry. His publications underscore his deep understanding of the technical accounting landscape and his commitment to empowering organizations with the knowledge they need to succeed.
In addition to his auditing expertise, Dan has collaborated with reputable industry organizations including BIO (Biotechnology Innovation Organization) and ABFO (American Bioethics Foundation Organization). His contributions have been instrumental in helping these organizations articulate their perspectives on crucial accounting standards and practices. Moreover, he plays an active role on the advisory committee for the California Life Sciences Association (CLSA), further emphasizing his dedication to advancing the field and supporting the growth of life sciences organizations in California and beyond.
Dan’s clients include renowned names such as Genentech, Theravance Biopharma, Innoviva, and many others, reflecting the trust and respect he has garnered within the industry. His ability to adapt to emerging accounting developments and provide pragmatic solutions demonstrates his leadership in accounting and client advisory services.
Education and Achievements
Dan graduated magna cum laude with a Bachelor of Science in Business/Managerial Economics from the esteemed University of California, Los Angeles (UCLA). This academic foundation set the stage for his remarkable career in auditing and accounting. His strong educational background combined with over two decades of practical experience enables him to offer insightful advice to his clients, ensuring they navigate the complex world of financial reporting with clarity and confidence.
Achievements in Dan’s career are numerous. He is well-respected for his role as the engagement quality review partner for esteemed companies such as Illumina, Myriad Genetics, and Cepheid, among others. His involvement in quality review reflects his commitment to maintaining high standards in financial reporting and assurance services, particularly in sectors that demand precision and integrity.
Dan’s proactive approach to engaging with emerging accounting standards equips him with a unique perspective, enabling him to offer well-informed counsel to his clients. His expertise spans critical areas of financial reporting, and he possesses a keen ability for addressing complex accounting issues with practical solutions tailored to the life sciences sector.
Achievements
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Co-Lead for ASC 606 Implementation: Dan has been at the forefront of the implementation of the ASC 606 standard on the West Coast, showcasing his leadership and expertise in this significant accounting change that affects revenue recognition.
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Author & Thought Leader: An accomplished author, he has contributed significantly to Ernst & Young publications on various technical financial topics related to life sciences, further establishing himself as a thought leader in the field.
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Collaboration with Industry Organizations: Dan’s partnership with industry organizations such as BIO and ABFO has helped shape the conversation around critical accounting practices, providing a voice for the life sciences community in standard-setting activities.
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Quality Review Partner: His role as the engagement quality review partner for several high-profile companies underscores his commitment to excellence in service delivery and client relationships.
Noteworthy Clients
Dan has provided audit and advisory services to a wide array of notable clients in the life sciences industry, which further indicates his depth of experience. These clients include:
- Genentech
- Theravance Biopharma
- Illumina
- Kura Oncology
- Ariosa Diagnostics
- Gilead Sciences This diverse portfolio not only highlights Dan’s expertise but also his adaptability and capability to meet the varying needs of different organizations, from well-established firms to innovative startups.
