FacultyFaculty/Author Profile

Timothy M. Phelps

Partner, Department of Professional Practice
New York, NY, USA

Tim is a partner in KPMG’s Department of Professional Practice in New York serving as a topic team leader for the statement of cash flows/presentation and as a topic team member related to SEC rules and regulations, financial assets, consolidation, leases and revenue recognition.  Previously, Tim served KPMG’s Baltimore and Washington, D.C. Financial Services practice for more than 20 years.

In addition, Tim is one of KPMG’s SEC reviewing partners and is a member of its resource networks for revenue, leasing and credit losses.

Tim has significant experience with technical accounting issues related to consolidation, sales and transfers of financial assets and liabilities related to securitization programs, leasing, and revenue recognition matters impacting financial service companies.

In addition, Tim has a thorough understanding of SEC rules and regulation having worked on many of KPMG’s comment letter responses to proposed rulemaking by the SEC related to Regulation S-X and S-K matters.

Lastly, Tim has provided professional audit services to a wide range of clients from large multinational corporations to small privately held entities in accordance with PCAOB and U.S. GAAS requirements and U.S. GAAP and IFRS.  His audit experience ranges from SEC filings, carve-out financial statements, investment fund financial statements to pension plans audits.

Board Experience

  • Dean’s advisory board member - University of Maryland’s Robert H. Smith School of Business
  • Advisory board member - University of Maryland’s Robert H. Smith School of Business Accounting and Information Assurance Department
  • Board member - Attorney Grievance Commission of Maryland



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