Case Studies
Engaged to evaluate malpractice claims against the auditor of several large bankrupt publicly traded companies that had been engaged in banking, brokerage, insurance and lending services. Ocean Tomo, a part of J.S. Held, evaluated accounting and auditing practices, particularly related to franchise fee revenue recognition and the allowances for uncollectible loans. Ocean Tomo was subsequently engaged by counsel for the bankruptcy trustee to extract and analyze millions of transactions from the company’s management system to support claw-back claims against insurance carriers, franchisees, securitization trusts, banks and other financial institutions.