Accounting, Auditing and Tax Standards Compliance

F&M provides assistance to counsel in disputes involving alleged accounting, auditing and tax malpractice. F&M evaluates compliance with professional standards relating to Generally Accepted Accounting Principles (GAAP), Generally Accepted Auditing Standards (GAAS), and professional and regulatory standards.

F&M Capabilities

  • Experienced, Big Four CPAs
  • Experienced expert witnesses
  • Accounting, auditing and tax expertise
  • Pre-trial issues analysis
  • Discovery assistance, including depositions, documents and interrogatories
  • Evaluation and calculation of damages
  • Experienced with settlement and Alternative Dispute Resolution procedures

F&M Case Histories

  • F&M provided expert testimony at deposition and trial in complex accounting malpractice matters involving GAAS, GAAP and public reporting issues such as the adequacy of reserves for receivables and inventory balances and the appropriateness of revenue recognition methods for a number of companies in diverse industries such as software development, manufacturing, construction and mortgage banking.
  • F&M provided consulting services and expert testimony in connection with "Big Four" and national CPA firms involved in malpractice litigation.
  • F&M analyzed a $4 million check embezzlement case brought by a bank customer, demonstrating that the customer's deficient internal accounting controls were the principal factors in the embezzlement, not the bank's actions.
  • F&M testified in mediation regarding the violation of standards by a CPA and an attorney with respect to tax services for related corporations, resulting in a $2 million settlement.
  • F&M provided expert testimony at deposition and trial concerning an insurer's compliance with statutory accounting principles and reporting requirements.
  • F&M valued employee stock options and analyzed the effects of backdating.