Recent high stakes financial fraud investigations have turned the spotlight on the role auditors play in monitoring accounting practices and financial reporting. As auditors’ liability risks continue to grow, they require experts who have deep analytical and accounting skills to address the complex issues surrounding auditor liability, causation and damages. Navigant’s Auditor Malpractice professionals combine technical accounting and auditing knowledge with forensic investigative techniques to bring clarity to accounting, auditing and financial reporting issues in investigations and disputes.
Click here to read the latest issue of Investigations Quarterly, a Navigant magazine on fraud and white collar crime.
Defending Accounting Malpractice Allegation
An international accounting firm was involved in an accounting malpractice as a result of a multi-billion dollar financial reporting fraud and accounting restatement. Our professionals analyzed the plaintiffs’ claims involving revenue recognition, improper capitalization of expenses, acquisition accounting and reserves, falsified assets and impairments. The Navigant team also analyzed audit work papers and researched issues related to adherence to Generally Accepted Accounting Principles (GAAP) and Generally Accepted Auditing Standards (GAAS) to formulate a successful response to Wells Notices issued to four individuals in the audit firm. Finally, the team prepared counsel for depositions of the audit team, fraudsters and numerous experts and supported counsel in several other aspects of trial preparation