Skip to footer FRA Forensic Risk Alliance ABOUT FRA EXPERTISE RESULTS NEWS AND INSIGHTS FRA PULSE CAREERS CONTACT Restructuring & Insolvency In times of volatility, companies across all sectors and jurisdictions face market challenges that may necessitate restructuring or bankruptcy expertise. For those navigating distressed financial situations, understanding the financial, legal and regulatory landscape is critical to maximizing value. Our team of seasoned accounting, financial and dispute specialists help bring clarity to the turmoil, and design strategies to preserve value in even the most complex operating environments. Why FRA We support outside counsel representing both distressed companies and creditors with expert advice around maximizing value, managing cash, and identifying potential misconduct. For companies facing insolvency or financial hardships, this can include investigating potential fraud or wrongdoing that may have deteriorated the entity’s financial position, tracing how cash has been spent or diverted, developing and evaluating liquidity strategies, negotiating with creditors, implementing operational changes, and satisfying complex regulatory and reporting requirements. For those seeking to maximize their recovery from a distressed company, it can mean monitoring ongoing activities, preparing for litigation, identifying expropriated assets and hidden liabilities, and investigating potentially improper uses of assets. FRA blends decades of experience in accounting and international business with market-leading capabilities in data mining, analytics and financial modeling. Our unsurpassed expertise as investigators, analysts, monitors and trusted advisors spans industries and geographies, and enables us to develop effective strategies to protect the interests of counsel and their clients on the path forward. How We Help Forensic Accounting and Investigations Concerns over fraudulent activity, asset diversion and asset tracing will undoubtedly be more acute as companies face economic collapse, and unscrupulous directors and owners move to redirect corporate obligations to their own advantage. In order to provide the greatest opportunity to recover assets and funds improperly removed from the business, and ultimately to recover those assets, forensic steps must be taken as quickly as possible. FRA’s seasoned team of forensic accountants and data analysts leverages cutting edge analytics tools to process and interrogate large volumes of complex transactional data from multiple sources and provide timely, actionable intelligence to stakeholders, including debtors, credits, their Counsel, and trustees. We can analyze payment systems, reconstruct financial records to quantify debtor funds that may have been used improperly, trace cash flows, and investigate potential misconduct that may have underpinned the company’s financial deterioration, including: Identifying indicators of diversion, and quantifying potentially voidable transactions, fraudulent conveyances, and preferential payments, and preferred remuneration of executives to the exclusion of other corporate staff; Investigating financial statement anomalies, transactional red flags, and other indicators of potential misconduct or fraudulent activity; Mapping disclosed/undisclosed corporate entities and liabilities and reviewing related party transactions; Analyzing whether the entity engaged in improper activity after the point when insolvency was reached; and Substantiating evidence that assets constitute proceeds of a fraud or other crime Litigation Support and Expert Testimony When improper conduct is identified, partnering with the right forensic specialists throughout the litigation lifecycle is critical to assuring independent analysis of the transactional conduct and providing evidence for use in subsequent litigation or criminal investigation. Our professionals are adept at conducting financial examinations, collating and evidencing findings for use in legal recovery and criminal prosecutions, and preparing damages/quantum models. We have substantial experience testifying in an expert capacity before international enforcement agencies, courts, and arbitrators on many issues related to bankruptcies including asset recovery, audit and accounting malpractice, related party transactions, preferential payments before the bankruptcy, indebtedness analysis, solvency analysis and fraudulent conveyances among others. We can provide the expertise and support for the most significant and sensitive matters, including those requiring the management of international data privacy laws and restrictions. Audit Malpractice Bankruptcy and liquidation are significant drivers in claims against audit professionals, as bankruptcy trustees, shareholders and creditors seek loss recovery and bankruptcy court judges opine on claims. Our team of former US Securities and Exchange Commission (SEC) and Public Company Accounting Oversight Board (PCAOB) officials, and certified public accountants with “Big Four” audit experience, including former audit partners and National Office leaders, is highly skilled at helping auditors and public accounting firms respond to such claims and litigation. We excel at navigating and defending against challenges in professional liability and accountant malpractice matters. Our team helps strategize responses; independently assess complex accounting, auditing and disclosure issues and auditor conduct and professional negligence; and recommend the best approaches. Our professionals have extensive experience acting as expert witnesses and in assessing damages claims. Our team is known in the industry for providing credible, independent analysis, and has extensive experience successfully presenting our findings to courts and regulators, including the PCAOB, SEC, DOJ, UK Financial Reporting Council (FRC) and other regulators. Financial Analysis & Forecasting Our team assists both creditors and debtors by providing real-time cash flow forecasting and financial analysis to help preserve liquidity and retain asset value in distressed situations. Our experts navigate operational issues across multiple industries and help stakeholders evaluate debt servicing capabilities, navigate the evaluation of contingent assets and liabilities, and assess the reasonableness of proposed business plans. This empowers business leaders and creditors to ensure appropriate cash management and capital structure post-emergence. Liquidation and Restructuring Support Our finance and accounting experts can help creditors realize maximum value by supporting a transparent and compliant liquidation or restructuring process. We conduct detailed analysis of revenues and costs in defined contracts, joint ventures, special purpose vehicles and/or business units/product lines, and attribute them to determine the appropriateness of proposed accounting adjustments. OUR TEAM Toby Duthie, Founding Partner READ BIO AND CONTACT Stacy Fresch, Partner READ BIO AND CONTACT Neil Keenan, Partner READ BIO AND CONTACT Jenna Voss, Partner READ BIO AND CONTACT Rik Workman, Partner READ BIO AND CONTACT LONDON Audrey House 16-20 Ely Place London EC1N 6SN United Kingdom +44 (0)20 7831 9110 WASHINGTON, DC 2550 M Street NW Washington, DC 20037 United States +1 (202) 627-6580 PROVIDENCE, RI 10 Dorrance Street, Suite 700 Providence, RI 02903 United States +1 (401) 289-0866 DALLAS, TX One Cowboys Way Suite 470 Frisco, Texas 75034 United States +1 (469) 604-0925 PARIS 44, avenue George V 75008 Paris France +33 1 74 88 05 40 CANADA 20 Place du Commerce Nuns’ Island Montreal, Quebec H3E 1Z6 Canada +1 (401) 289-0866 NEW YORK CITY, NY 434 W. 33rd Street 7th Floor New York, NY 10001 United States +1 (646) 921-1865 PHILADELPHIA, PA 727 Norristown Road Building 8 Spring House Innovation Park, Suite 206, Lower Gwynedd, PA 19002 United States +1 (267) 405-9302 STOCKHOLM 7A Centralen Vasagatan 7 111 20 Stockholm Sweden +44 (0)7747 790232 ZURICH Bahnhofstrasse 100 Zurich 8001 Switzerland PRIVACY LEGAL COOKIES MODERN SLAVERY STATEMENT SITEMAP CONTACT © 2021 The FRA group in the UK comprises Forensic Risk Alliance Limited (number 3895636) and FRA Solutions Limited (5863958). Both are limited companies registered in England & Wales, and have their registered office at 3rd Floor, Audrey House, 16-20 Ely Place, London EC1N 6SN. The term partner is used to denote senior employees of the limited companies. All rights reserved. This website uses cookies to provide you with a more responsive and personalized service. Please use the buttons to manage, accept or decline your consent. For more information, please visit ourCookie Policy Manage Cookie Settings Accept All Cookies