Our Valuation and Forensic Services (VFS) Department specializes in performing valuations of closely held businesses, litigation consulting and expert witness services, and financial investigations. Our practice is now in its 23rd year and is one of the largest practices in Virginia dedicated to providing these services.
Our valuation services include assisting clients involved in business transactions requiring the valuation of a business, estate, or personal worth. Our experience includes valuations for a variety of purposes, including taxation, financial reporting, transactions, stock-based ownership/option plans, general business, and litigation.
Litigation and Expert Witness Services
Our VFS team specializes in assisting attorneys and their clients with complex disputes, including litigation consulting and expert witness services for commercial disputes and divorce, and financial advisory services for reorganization and bankruptcy. Members of our team have qualified as expert witnesses in U.S. District Court, U.S. Bankruptcy Court, and 17 circuit courts in four states, as well as before the American Arbitration Association and the National Association of Securities Dealers. We have also been named as experts in disputes subject to the Financial Industry Regulatory Authority. We have served as U.S. District Court-appointed forensic accountants, consultants for the U.S. Office of the Federal Public Defender, and court-appointed neutral business appraisers. We have also been retained by the U.S. Department of Justice as a consultants in a litigation in U.S. District Court.
Financial Investigation Services
Our VFS team specializes in providing financial investigation services, including assisting with discovery and obtaining evidence, performing computer forensic analysis, tracing of funds and assets, determining how a theft was perpetrated and concealed, assessing internal controls, preparing expert reports, and providing expert witness testimony. Our experience includes serving as the U.S. District Court-appointed forensic accountants and experts for one of the largest personal frauds ever committed in Virginia (an international Ponzi scheme totaling over $70 million), as well as the forensic accountants for one of the largest employee embezzlements (a 15 million dollar theft from a publicly traded company).
Our team members collectively possess over 60 years of experience and have performed over 1,500 valuation and forensic projects in more than 220 different industries.
The senior members of our team are all Certified Public Accountants and possess the following valuation specialty credentials: the American Institute of Certified Public Accountants’ Accredited in Business Valuation (ABV) credential and the American Society of Appraiser’s Accredited Senior Appraiser (ASA) credential.
In addition, certain of our team members are certified in financial forensics and hold the American Institute of Certified Public Accountants’ Certified in Financial Forensics (CFF) credential, and the Association of Certified Fraud Examiners’ Certified Fraud Examiner credential.
Thought Leadership in the Profession
Our professionals have been recognized as experts by professional organizations, their peers, and the courts. Our team’s credentials include the following:
- Inductee into the American Institute of Certified Public Accountants Business Valuation Hall of Fame (an award which recognizes lifetime achievements and contributions that have significantly advanced the valuation discipline)
- Two-time recipient of the AICPA Business Valuation Volunteer of the Year Award (this award recognizes CPAs who have advanced the ABV Credential and business valuation profession for CPAs through extraordinary service as an AICPA committee, subcommittee or task force member)
- Recipient of the AICPA Forensic and Valuation Services (FVS) Standing Ovation Award
- Recipient of the Virginia Society of Certified Public Accountant’s Top 5 Under 35 Award
- Adjunct faculty of The College of William and Mary Raymond A. Mason School of Business for 14 years (teacher of graduate level course in forensic accounting and fraud investigation)
- Guest lecturer on valuation for The College of William and Mary M.B.A. program and Marshall-Wythe School of Law
- Guest instructor at the FBI Academy for forensic accountants in Quantico, Virginia
- Instructor on valuation for the National Judicial College
- Selected for membership in the American Academy of Matrimonial Lawyers Foundation Forensic and Business Valuation Division
- Current and former members of the AICPA’s Business Valuation Committee (the national committee that is responsible for oversight of the development of professional valuation standards and valuation education program for CPAs)
- Former commissioner of the AICPA’s National Accreditation Commission (a senior AICPA committee responsible for identifying, recognizing, advocating, and supporting new areas of specialization that warrant an accreditation program)
- Former Chair and Vice-Chair of the AICPA National Business Valuation Conference Steering Committee (the AICPA’s national conference offering continuing professional education to CPAs specializing in valuation)
- Instructor for over 50 AICPA courses on business valuation, including the AICPA National Business Valuation School, the AICPA Accredited in Business Valuation Exam Review Course, and the AICPA Expert Witness Skills Workshop
- Current chair, member, and former member of the VSCPA Business Valuation, Fraud, and Litigation Services Conference Planning Task Force
- Co-author of Financial Valuation: Applications and Models, 1st-4th ed. (the textbook used for the AICPA’s National Business Valuation School)
- Contributing author to Dr. Shannon Pratt’s and Roger Grabowski’s Cost of Capital: Estimation and Applications, 2nd – 4th ed.
- Technical reviewers of ten business valuation texts
- Authors of numerous articles on valuation and forensic accounting topics
- Expert panelist for Financial Valuation and Litigation Expert
- Editorial Board member for Business Valuation Update
- Member of Advisory Board for Business Valuation Resources’ Cost of Capital Professional
- Editorial Task Force member for the VSCPA Disclosures magazine
- Former editor of the AICPA ABV e-Alert and an editorial adviser and contributing author for the AICPA CPA Expert
- Presenters of over 155 seminars and presentations on valuation and forensic accounting
- American Institute of Certified Public Accountants
- Certified Public Accountants (CPA)
- Accredited in Business Valuation (ABV)
- Certified in Financial Forensics (CFF)
- American Society of Appraisers
- Accredited Senior Appraisers in Business Valuation (ASA)
- Association of Certified Fraud Examiners
- Certified Fraud Examiners (CFE)
Our primary market consists of Virginia and the southeast region; however, we have performed projects across the U.S. Our client focus is on closely held businesses and professional firms ranging from small to middle market with local, regional, national, and international operations; however, we have also performed projects for billion dollar private and public companies.
The following is a representative list of local, regional, and national law firms that we have assisted as consultants and experts on valuation, litigation, and/or forensic projects. Please note that this list is not all inclusive as certain law firms have policies prohibiting use of their names.
|Armstrong Bristow Farley & Schwarzschild, PLC
Blackburn, Conte, Schilling & Click P.C.
Christian & Barton, LLP
Durrette, Arkema, Gerson & Gill, PC
Florance Gordan Brown
Foley & Lardner LLP
Gordon & Rees
Hancock, Daniel, Johnson & Nagle, P.C.
Hicks Crandall Juhl PC
Hirschler Fleischer, P.C.
James McElroy & Diehl
Kaplan Voekler Cunningham & Frank PLC
Keller Law Group
Kilpatrick Townsend & Stockton LLP
Kutak Rock LLP
Law Office of Deanna D. Cook, P.C.
Marks & Harrison
Troutman Sanders LLP