Case Studies
J.S. Held Acquires Technorm, Québec’s Leading Forensic, Building Safety & Compliance Experts
Read MoreThe client raised concerns over the company’s financial position and ability to continue to meet the construction contract due to the company asking for advance payments to alleviate cash flow problems
J.S. Held’s construction advisory team was instructed to review the company’s list of projects and provide quantity surveying expertise to understand the problem with the company’s accounts. Following initial reviews, we engaged our forensic accountants to review the company’s business and cash flow position. There was a potential risk that the company was no longer trading as a going concern and may fail to meet its banking commitments, resulting in bankruptcy.
We had initial meetings with the company’s accounting team. We were provided with the monthly management accounts and cashflow projects, which we could compare to the current project analysis prepared by our construction advisory team.
Our analysis involved assessing the company’s debtor’s credit ratings to confirm the likelihood of receipt of funds. Our team also assessed the reasons for the negative cash flow position. We prepared projections based on the information provided to understand whether the company could meet banking commitments and continue to trade.
This analysis allowed the client to make informed decisions on whether to advance funds to ensure the company could fulfill contractual obligations.
Following this analysis and meetings with both parties, we understand that funds were provided to the company and that they could meet their obligations without further difficulties.
Giles Archer, ACA
Vice President
Forensic Accounting - Insurance Services
+44 20 4576 0624
[email protected]
> Construction Estimating
We provide detailed cost estimates for each phase of construction or remediation. J.S. Held's team has extensive experience developing cost of repair estimates for property damage and defect remediation, as well as, cost to complete estimates and cost management on construction projects from initiation through close out.
> Forensic Accounting
Our Forensic Accounting Practice includes Certified Public Accountants, Certified Fraud Examiners, Certified Financial Forensics experts, and other financial experts who specialize in financial investigations, dispute resolution, and regulatory compliance.