ARTICLE FROM THE NASSAU LAWYER – THE JOURNAL OF THE NASSAU COUNTY BAR ASSOCIATION AND THE SUFFOLK LAWYER – A PUBLICATION OF THE SUFFOLK COUNTY BAR ASSOCIATION
By: David L. Gresen, CPA/ABV, CVA, CFE
Would you sign a document without reading it thoroughly, looking at the fine print or questioning items you are unsure of just because it was prepared by an attorney? Probably not.
You should be applying the same scrutiny you give your legal documents to the financial information provided to you by financial professionals, such as CPA’s, MBA’s, PhD’s, etc.
Just because a financial statement has been “compiled”, “reviewed” or “audited” or a tax return is prepared by a CPA, does not mean that the numbers should be taken at face value. All you have to do is open the daily newspaper to see the financial fraud of the day — whether it involves a multinational business, local school district, or an unscrupulous financial advisor.
How do you know when to accept the numbers provided to you, or to call in a forensic account? You’re an attorney, not an accountant, and numbers may not be your forte.
Here are a few thoughts to assist you in determining whether or not to call in a forensic accountant:
When you are ready to make a call for assistance, be aware that although there are many good accountants out there, you need someone who specializes in forensic accounting and litigation support. You need someone on your side to properly guide you through a forensic examination and provide you the information you need to make and present your case, whether it be for informal settlement negotiations or for a trial.
David L. Gresen, CPA/ABV, CVA, CFE is a partner in the firm of Klein Liebman & Gresen, LLC (“KLG”). Mr. Gresen assists attorneys, judges, accountants, and business owners in forensic accounting, business valuation and litigation support matters. If you would like to find out more about how KLG can assist you, please call us at 516-364-3232 or 212-505-5770 or visit our website at www.goKLG.com.