Accounting & Auditing Standards Litigation
When assertions of error in financial statements are made or when the conduct of professionals is challenged, it is imperative that those assertions and challenges be evaluated by competent professionals who will call it as they see it. That competency and integrity define Ocean Tomo professionals and the support services we provide to law firms, public corporations, and federal agencies that are engaged in accounting and auditing standards litigation.
Our Credentials as Accounting & Auditing Standards Experts
The professionals at Ocean Tomo are uniquely qualified to provide financial reporting guidance, litigation consulting, and expert witness testimony. When consulting with clients, our advice comes from having been actively involved in the accounting standard-setting process by serving on committees of the American Institute of CPAs (AICPA) such as the Financial Reporting Executive Committee (FinREC), and its predecessor, the Accounting Standards Executive Committee (AcSEC), the committee which determines the Institute’s technical policies regarding financial reporting standards.
Our engagements have involved highly publicized accounting and financial reporting scandals, including allegations of accounting and auditor malpractice. We have provided expert opinions regarding the interpretation, application, and conformity with Generally Accepted Accounting Principles (GAAP) on matters such as fair value accounting for complex financial instruments, revenue recognition, related party transactions and disclosures, business combinations, internal controls, auditor liability, accounting for special purpose entities and accounting for and disclosures related to loss contingencies and asset impairments.
Our team of CPAs, Certified Fraud Examiners (CFE) and Certified in Financial Forensics (CFF) professionals have given expert testimony in defense of the presentation of financial statements, including financial statement disclosures, and in defense of auditor compliance with Generally Accepted Auditing Standards (GAAS). In other circumstances, we have provided expert analysis and testimony that previously issued financial statements had been materially misstated and that auditors had failed to comply with the relevant professional standards.
It is imperative that we maintain a rigorous, careful study and evaluation of the facts, circumstances and merits of each case and a dedication to uncompromising integrity.
Meet Our Accounting & Auditing Standards Litigation Experts
Ocean Tomo professionals have specialized expertise in accounting, financial reporting, internal controls, and economic damages analysis. Our experts are active in the accounting standard-setting process, with leadership on the committees that have been the source of authoritative guidance on many major accounting and financial reporting issues.
Accounting & Auditing Standards Litigation Featured Engagements
For expertise specific to accounting, financial reporting, internal controls, and economic damages, Ocean Tomo has no peer. Our services are built upon more than three decades of experience in the most rigorous venues – state, federal, and international courts – and spans more than 150 different industry segments. Because our past success provides the best indication of our capabilities, we are proud to feature a few representative engagements and encourage potential clients to seek references from both past clients and opposing counsel.