We support organizations and their legal counsel at all points of the litigation lifecycle, including discovery, pre-case assessment, data analytics and analysis, litigation consulting including the assessment of compliance with GAAP and GAAS, damages calculations and serving as expert witnesses.

Companies face enormous challenges and risks, including potential public scrutiny, reputational damage, litigation costs and damages arising from securities litigation. Litigation may also extend to the company’s boards of directors and officers who may face shareholder class action and/or derivative litigation. If the litigation focuses on alleged accounting fraud, company auditors may also be named in filings. Frequently, companies may be forced to defend securities class action litigation in parallel to ongoing regulator enforcement actions, often multi-jurisdictional. It is essential, therefore, to have the appropriate legal, data governance and, where applicable, forensic accounting experts to guide the Company and its officers through such complex issues.

FRA’s broad range of experts include former regulators at the Securities and Exchange Commission (SEC), Public Company Accounting Oversight Board (PCAOB) and Serious Fraud Office (SFO); auditors at national offices of public accounting firms; ex-investment bankers familiar with complex investment products and damage calculations; and Big 4 partners experienced in litigation consulting. Our team of experts works seamlessly to help clients mitigate risks associated with complex securities class action and derivative lawsuits, regulatory investigations, and claims of auditor malpractice. We support organizations and their legal counsel at all points of the litigation lifecycle, including discovery, pre-case assessment, data analytics and analysis, litigation consulting including an assessment of compliance with Generally Accepted Accounting Principles (GAAP) and Generally Accepted Auditing Standards (GAAS), damages calculations and serving as expert witnesses.

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What Makes Us Different

Data Governance and Analytics

During the past few years, a disproportionate level of securities litigation have been filed against foreign issuers. As such, discovery involves the cross border collection, processing and review of relevant data. We are Data Governance, Technology Solutions and Forensics consultants and offer extensive multi-jurisdictional data privacy, transfer and protection expertise in order to assist our clients in achieving their objectives with compliance, litigation and investigations. An essential element is to develop an appropriate litigation discovery strategy that considers privacy laws, blocking statues, localisation policies and state secrets. FRA is adept at navigating complex cross-border data collections. Learn more about our expertise in Investigations, and Data Governance, Technology Solutions and Forensics.
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Litigation Consulting and Testimony

FRA is highly skilled at helping companies, executives and public accounting firms respond to regulators’ investigations, derivative and class action securities litigation. We have served as litigation consultants assisting clients address their most complex GAAP, internal controls over financial reporting and regulatory issues. This assists in the research of pertinent issues relevant to the allegations, developing positions and analyses, and working with counsel and the client to develop potential defences. FRA team members are also experienced in providing testimony at deposition, mediation and trail on data governance, GAAP and GAAS related matters. A member of our team has also testified as an accounting and auditing expert on behalf of the SEC.
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Accounting Misstatements

Companies that restate previously issued financial statements frequently find themselves answering to regulators and shareholders. Our team, composed of former SEC and PCAOB enforcement accountants, Big 4 partners, Audit Partners, including those in risk management and national office functions, advises clients and counsel related to the most complex accounting, restatement, auditing and regulatory issues. FRA provides independent analysis of the application of GAAP, international financial reporting standards (IFRS), and auditing and independence standards promulgated by the PCAOB, the SEC, and the International Auditing and Assurance Standards Board (IAASB). Learn more about our expertise in Accounting, Audit and Regulatory Advisory and Forensic Accounting.
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Independent Internal Controls Assessment and Remediation

Over 70 percent of securities litigation cases that include allegations of non-compliance with GAAP, also cite a failure of internal controls over financial reporting. Companies must, therefore, defend their internal control framework and alleged failures. We are experts in assessing the effectiveness of internal control systems, and can assist in all stages of control issues, from evaluations to proactive measures through remediation and monitoring. Our team comprises former internal and external auditors, with specific experience with the Sarbanes-Oxley Act section 404 and in the Committee of Sponsoring Organizations of the Treadway Commission (COSO), Control Objectives for Information and Related Technologies (COBIT), and other internal control frameworks.
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Understanding Complex Financial Products

Litigation against financial institutions often involves very complex transactions, structures and valuation techniques. FRA’s team includes former investment bankers who have a wealth of experience and knowledge of complex financial models and structures. A significant element of securities litigation cases involving complex financial products is the ability to simplify how such products operate, generate profits and are accounted for. We support counsel in many areas including collaterized debt obligations, credit derivatives, securitised products, special purpose vehicles (SPVs) and derivatives.
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Our consulting and testifying experts have decades of experience valuing companies, projects and contracts in the context of actual transactions. We leverage this experience to provide a practical approach to valuation and damages, from the assessment of evidence and identification of realistic scenarios through to the clear and concise explanations in written reports and testimony. We have completed damage assessments as part of early case assessments, in advance of mediation discussions, and at trial. Learn more about our expertise in Disputes and Arbitration.
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Our Team

Derek Patterson
Derek Patterson, Principal
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Rob Mason, banking expert, finance expert
Rob Mason, Partner
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Gordon Macleod Banking
Gordon Macleod, Partner
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Neil Keenan
Neil Keenan, Partner
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Stacy Fresch, forensic accountant
Stacy Fresch, Partner
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FRA Dale Kitchens
Dale Kitchens, Director
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FRA Jerry Hansen
Jerry Hansen, Partner
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