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A Financial Forensics expert can assist a lawyer by providing services on many issues which are common and readily come to mind:

Business Valuations – Utilizing historical financial records and proprietary databases to form an opinion of the value of a business for marital dissolution, partnership disputes, or a variety of other types of cases
Marital Dissolution – In addition to business valuations, opinions on the breakdown of personal vs. enterprise goodwill of the business, money tracing, the evaluation of expenditures, and the valuation of other assets and debts
Valuation of damages in civil litigation – Opinions on a variety of economic damages related to tort or breach of contract claims including lost profits, quantifying a business interruption loss, providing values for shareholder or partnership disputes, calculation of damages related to failure to perform on a contract or the net loss when having to obtain substitute performance
Personal Injury cases – Opinions of the value of actual damages, lost wages including fringe benefits, or calculating the net present value of a life care plan
Wrongful death – Calculating a value using data such as actuarial tables for work life expectancy, life expectancy, personal income, personal consumption, and value of household services to survivors
Wrongful termination cases – Calculating the lost wages and benefits to the terminated employee
Fraud Investigations – Coming into companies where fraud is suspected, conducting a quantitative data review and interviews of personnel to determine the scope of fraudulent activities, amount of loss, and detailing the methods utilized to perpetrate the fraud, preserving evidence in a manner to be presented to law enforcement if requested; a fraud investigation is significantly different that an audit and takes a different skill set
Bankruptcy cases – Opinions regarding the feasibility of reorganization plans, solvency issues, identifying fraudulent transfers, administration of and accounting for the reorganization plan or liquidation

If you’re looking for a financial expert, give us a call at 918-814-2309 or
e-mail info@financialforensicsgroup.com.

There are a number of other areas where Financial Forensics experts can assist that may not be as obvious. Here are just of few examples from my recent experience:

Shareholder or Partnership Litigation – Outside the traditional values needed to compensate a departing partner, there are often accusations of fraud, misappropriation of funds, loss of corporate opportunities and a host of other issues that lawyers frequently encounter, but don’t involve the financial expert early enough.
Alter Ego Analysis – Involves analyzing the (likely near bankrupt) company that may have breached the contract or committed the tort for undercapitalization (while being subsidized by an entity under common control), transfers between related entities, commingling of assets, operations, or personnel, following corporate formalities, documentation of intercompany loan agreements, analysis of deals to determine if they are on an arm’s length basis and other similar activities designed to determine if there is the potential to “pierce the corporate veil” and have defendants with the ability to pay damages
Fraud Prevention – Certified Fraud Examiners are trained to go into company and assess the risk of fraud, looking throughout the company processes, from payroll to accounts payable and receivable, procurement, sales, company credit cards, cash management procedures and other areas as applicable to the business, also working with management to recognize the red flags of fraud early.
Class Action Certification / Claims analysis – often involves the analysis of large data sets to determine empirically whether the potential claims of the plaintiffs are similar to warrant class certification
Ability to pay punitive damages – form an opinion as to whether and how much the defendant has the ability to pay based upon the prevailing criteria of the jurisdiction
Valuation of Stock Options / Restricted Stock in private companies – often associated with marital dissolution cases, but this is a specialized area with complex calculations that require a great deal of backup data from proprietary databases, especially when start-up companies are involved
Intellectual Property Valuation – Utilized for purchase price allocation for financial accounting purposes, but also can be a measure of value or damages in marital dissolution, shareholder disputes, or many forms of civil litigation

If you think you might need the help of a financial forensics expert, please call 918-814-2309 or e-mail info@financialforensicsgroup.com.

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