Forensic accounting involves applying specialized knowledge and investigative skills to collect, analyze, and evaluate evidence and to communicate the results of those investigations in legal or other administrative venue. In contrast to accounting and attest engagements that accountants typically pursue, forensic accounting engagements require a working knowledge legal and evidentiary standards and the ability to communicate complex financial and legal concepts in clear, concise terms.
Applying decades of experience in litigation and financial analysis, AILA’s consultant has helped counsel present a wide variety of cases including:
- Fraud – investigated a conspiracy to defraud the manufacturer of a heavy equipment. The alleged perpetrator conspired with the manufacturer’s authorized dealers to purchase equipment at discounts the perpetrator should not have received.
- Breach of contract – calculated damages in case alleging breach of a construction contract. Builder failed to complete the project in the time specified in the contract which resulted in damages from the delayed facility opening.
- Class action damages – calculated lost wages in an employment case arising from employer’s failure to properly apply fluctuating work-week standards.
- Class action damages – calculated losses to healthcare providers arising from insurers’ failure to pay interest as Pennsylvania law requires.
- Accounting malpractice – analyzed alleged failure of the audit of an investment fund that operated as a Ponzi scheme.
- Breach of lease contract – prepared a critique analysis in an alleged breach of the exclusivity provision of a lease agreement. Plaintiff claimed damages from the opening of a competing business in the shopping center, but more detailed analysis showed that declining revenues pre-dated competitor’s opening, breaking the causal nexus to plaintiff’s damages.
- Breach of employment contract –physicians left a radiology practice to become employees of a hospital system that had, previously, contracted with the radiology group. The departing physicians violated notice of termination and non-compete provisions of their employment agreements with the group, resulting in damages to the group.
- Personal injury – prepared a critique analysis of plaintiff’s claim for lost business income following a personal injury. Plaintiff proffered an expert report based on declines in reported taxable income. Further analysis demonstrated that the decline was related to economic conditions and financial issues unrelated to the injury.
In addition to testifying and preparing reports required by rules of procedure, AILA’s consultant can assist counsel in evaluating potential claims, assessing whether damages have occurred, drafting discovery requests and framing questions for witness interviews and depositions.
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