Research

Legal and Accounting Pitfalls For Buyers and Sellers

By | 2016-11-16T09:22:12+00:00 June 19th, 2015|Research|

Dr Barry Jay Epstein, Accounting Expert at Epstein + Nach LLC   Earn-out agreements (“earn-outs”) are common features of business acquisitions, and indeed may be necessary in bringing a proposed transaction to fruition. Particularly when the sought-after price is predicated on the business’ very recent record of success, [...]

Canaries Gone AWOL: How Auditors Should Be Helping

By | 2016-11-16T09:22:12+00:00 June 19th, 2015|Research|

Dr Barry Jay Epstein, Accounting Expert at Epstein + Nach LLC   During an out-of-court restructuring or a Chapter 11 bankruptcy [1] process, restructuring professionals do not uncommonly hear the statement (or think to themselves): “If only we could have gotten involved sooner.” Oftentimes, business managers that ignore [...]

Nine Steps to Optimization of the Audit Committee

By | 2016-11-16T09:22:12+00:00 June 19th, 2015|Research|

Dr Barry Jay Epstein, Accounting Expert at Epstein + Nach LLC   The audit committee, and its membership, are keys to the success of business operations. If the audit committee fails in executing its duties, there could be grave consequences for the entity, particularly in the areas of [...]

Failures Begin With Planning Deficiencies

By | 2016-11-16T09:22:12+00:00 June 19th, 2015|Research|

Dr Barry Jay Epstein, Accounting Expert at Epstein + Nach LLC   The author – a former auditor and longtime litigation consultant – has found that, like Tolstoy’s happy families, virtually all inadequately performed audits are alike. In the audit failure arena, they almost inevitably exhibit fatal flaws [...]

Understanding How Auditors May Be Exposed to Accountants’ Negligence and Malpractice Suits by Failing to Properly Assess An Entity’s Internal Controls

By | 2016-11-16T09:22:15+00:00 June 19th, 2015|Research|

Dr Barry Jay Epstein, Accounting Expert at Epstein + Nach LLC   Gaining an understanding of an entity’s system of internal control is a critical component of conducting an audit. The American Institute of Certified Public Accountants mandates in the body of professional guidance known as Generally Accepted [...]

Litigation Risk

By | 2016-11-16T09:22:15+00:00 August 20th, 2013|Research|

Dr Barry Jay Epstein, Accounting Expert at Epstein + Nach LLC   Auditor liability and malpractice, stemming from allegations of failure to appropriately respond to clients’ risk of material misstatements due to fraud, is an area ripe for litigation, specifically when fraud and material misstatements are subsequently revealed [...]

Lessons from Civil Litigation

By | 2016-11-16T09:22:16+00:00 August 20th, 2013|Research|

Dr Barry Jay Epstein, Accounting Expert at Epstein + Nach LLC   Civil litigation involving asset misappropriation, fraudulent disbursements and other complex accounting matters benefit from the engagement of a forensic accountant and/or a fraud examiner. Just as attorneys would not attempt to decipher complex engineering or scientific [...]