How We Help

Forensic Accounting and Investigations

Concerns over fraudulent activity, asset diversion and asset tracing will undoubtedly be more acute as companies face economic collapse, and unscrupulous directors and owners move to redirect corporate obligations to their own advantage. In order to provide the greatest opportunity to recover assets and funds improperly removed from the business, and ultimately to recover those assets, forensic steps must be taken as quickly as possible. 

FRA’s seasoned team of forensic accountants and data analysts leverages cutting edge analytics tools to process and interrogate large volumes of complex transactional data from multiple sources and provide timely, actionable intelligence to stakeholders, including debtors, credits, their Counsel, and trustees.  We can analyze payment systems, reconstruct financial records to quantify debtor funds that may have been used improperly, trace cash flows, and investigate potential misconduct that may have underpinned the company’s financial deterioration, including:

  • Identifying indicators of diversion, and quantifying potentially voidable transactions, fraudulent conveyances, and preferential payments, and preferred remuneration of executives to the exclusion of other corporate staff;
  • Investigating financial statement anomalies, transactional red flags, and other indicators of potential misconduct or fraudulent activity;
  • Mapping disclosed/undisclosed corporate entities and liabilities and reviewing related party transactions;
  • Analyzing whether the entity engaged in improper activity after the point when insolvency was reached; and
  • Substantiating evidence that assets constitute proceeds of a fraud or other crime

Litigation Support and Expert Testimony

When improper conduct is identified, partnering with the right forensic specialists throughout the litigation lifecycle is critical to assuring independent analysis of the transactional conduct and providing evidence for use in subsequent litigation or criminal investigation. Our professionals are adept at conducting financial examinations, collating and evidencing findings for use in legal recovery and criminal prosecutions, and preparing damages/quantum models. We have substantial experience testifying in an expert capacity before international enforcement agencies, courts, and arbitrators on many issues related to bankruptcies including asset recovery, audit and accounting malpractice, related party transactions, preferential payments before the bankruptcy, indebtedness analysis, solvency analysis and fraudulent conveyances among others. We can provide the expertise and support for the most significant and sensitive matters, including those requiring the management of international data privacy laws and restrictions.

Audit Malpractice

Bankruptcy and liquidation are significant drivers in claims against audit professionals, as bankruptcy trustees, shareholders and creditors seek loss recovery and bankruptcy court judges opine on claims. Our team of former US Securities and Exchange Commission (SEC) and Public Company Accounting Oversight Board (PCAOB) officials, and certified public accountants with “Big Four” audit experience, including former audit partners and National Office leaders, is highly skilled at helping auditors and public accounting firms respond to such claims and litigation. We excel at navigating and defending against challenges in professional liability and accountant malpractice matters. Our team helps strategize responses; independently assess complex accounting, auditing and disclosure issues and auditor conduct and professional negligence; and recommend the best approaches. Our professionals have extensive experience acting as expert witnesses and in assessing damages claims. Our team is known in the industry for providing credible, independent analysis, and has extensive experience successfully presenting our findings to courts and regulators, including the PCAOB, SEC, DOJ, UK Financial Reporting Council (FRC) and other regulators.

Financial Analysis & Forecasting

Our team assists both creditors and debtors by providing real-time cash flow forecasting and financial analysis to help preserve liquidity and retain asset value in distressed situations. Our experts navigate operational issues across multiple industries and help stakeholders evaluate debt servicing capabilities, navigate the evaluation of contingent assets and liabilities, and assess the reasonableness of proposed business plans. This empowers business leaders and creditors to ensure appropriate cash management and capital structure post-emergence.

Liquidation and Restructuring Support

Our finance and accounting experts can help creditors realize maximum value by supporting a transparent and compliant liquidation or restructuring process. We conduct detailed analysis of revenues and costs in defined contracts, joint ventures, special purpose vehicles and/or business units/product lines, and attribute them to determine the appropriateness of proposed accounting adjustments.

Our Team

Toby Duthie Who's Who Legal Award Win
Toby Duthie, Founding Partner
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Stacy Fresch, forensic accountant
Stacy Fresch, Partner
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Neil Keenan
Neil Keenan, Partner
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Jenna Voss
Jenna Voss, Partner
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Rik Workman, forensic accountant
Rik Workman, Partner
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