NJSBA Family Law Section

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  • 1.  Forensic Accountant/Business Valuation

    Posted 12-01-2016 05:14 PM

    I am looking for recommendations for business valuation/forensic accountant, in Union County of Middlesex County, if anyone has someone good to recommend I would appreciate it. 

    Thanks,

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    Geraldene Sherr Duswalt, Esq.
    1812 Front Street
    Scotch Plains, New Jersey 07076
    (908) 322-5160
    [email protected]
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  • 2.  RE: Forensic Accountant/Business Valuation

    Posted 12-01-2016 05:19 PM

    Scott Maier of Friedmann is the best.  Have used him multiple times. Very thorough and excellent expert.

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    Blake W. Rush, Esq.
    Law Office of Blake W. Rush
    14 E. Main Street
    Clinton, NJ 08809
    (908) 713-9800 (PHONE)
    (908) 713-9803 (FAX)
    www.blakerushlaw.com

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  • 3.  RE: Forensic Accountant/Business Valuation

    Posted 12-01-2016 05:36 PM
    Me too. Just sent same recommendation 

    Sent from my iPhone



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  • 4.  RE: Forensic Accountant/Business Valuation

    Posted 12-01-2016 05:35 PM
    Susan Miano and Scott Maier at Friedman LLP

    Sent from my iPhone



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  • 5.  RE: Forensic Accountant/Business Valuation

    Posted 12-02-2016 07:41 AM
    I recommend David Rudman.

    David Rudman, CPA/ABV, CVA

    Sigma Valuation Consulting, Inc.

     

    101 Eisenhower Parkway – Suite 300

    Roseland, NJ 07068

    Direct    (973) 396-2157

    [email protected]

    www.sigmavaluation.com

     


    Alexander Vays, Esq.
    We Serve NJ LLC



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  • 6.  RE: Forensic Accountant/Business Valuation

    Posted 12-02-2016 08:12 AM
    I'm glad a colleague referenced David Rudman's name as a proposed forensic accounting expert. I met with him last year to discuss his retention in a particular pharmaceutical matter ( which matter then settled without the need for expert retention). I then dropped the ball on his use in other matters, but plan to revisit his use in 2017.
    My biggest concerns with forensic accounting experts and the quality of the work product, are:
    1. who in the firm is actually doing the work on the file and 
    2. what level of supervision is in place by the partner responsible for the report's submission.
    Richard Diamond 

    Sent from my iPhone



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  • 7.  RE: Forensic Accountant/Business Valuation

    Posted 12-02-2016 04:18 PM

    I second those emotions!! The cost is also a huge factor, so the experts who are mindful of that are most appreciated.

     

    Pamela M. Copeland, Esq.

    Certified Matrimonial Attorney

    Divorce and Family Mediator

    Collaborative Professional

    775 Mountain Blvd., Suite 208

    Watchung, NJ 07069

    [email protected]

    www.CopelandLawNJ.com

    908-561-6800

    908-561-6801 (fax)

    Like us on Facebook: www.facebook.com/Pamela-M-Copeland-Counselor-at-Law-New-Jersey-Divorce-169293809885603/

     

     




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  • 8.  RE: Forensic Accountant/Business Valuation

    Posted 12-04-2016 03:09 PM
    I've been close to posting a thread / question / comment on this issue for a while.

    I won't name names, but this is a serious issue with the major CPA firms in the State - all of them. The billing records we get say, pretty much uniformly, "DOCUMENT REVIEW" and then list an amount of time (the one on my desk says "DOCUMENT REVIEW  6.0 HOURS.") If any of us billed with this (non-existent) level of specificity and it went to fee arb, there would be a serious problem and we'd end up eating the bill. I raised it in one case and the firm in that matter temporarily did a slightly better job describing their services (e.g., "Review tax returns and documents used to prepare same for 2011-2014, reviewed business expense log and compared to check registers and invoices",etc), but the next case was back to 2 and 3 word descriptions and huge time expenditure claims. Obviously, clients are understandably very unhappy about this and I don't know what to say to them. I'd feel the same way.

    I don't know who to raise this with. I' ve been tempted to insist in future retainer agreements with these firms that "invoices will describe with adequate specificity (e.g., not simply "document review") the tasks performed", but I don't want to see like the only one displeased with this practice.

    What do y'all think? And who should raise this with them? Is it something we can seek to get changed? Am I the only one perturbed by it?



    <x-sigsep>

    David Perry Davis, Esq.
    ----------------------------------------------------
       www.FamilyLawNJ.pro
    ----------------------------------------------------
    112 West Franklin Avenue
    Pennington, NJ 08534
    Voice: 609-737-2222
    Fax:    609-737-3222

    </x-sigsep>



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  • 9.  RE: Forensic Accountant/Business Valuation

    Posted 12-04-2016 04:53 PM

    David,

      You're not the only one who is disappointed.

      The problem is not just how they describe the time; based on what you describe, their time records are inflated even if the time was adequately described.

      Simple solution: don't use the major CPA firms. Plenty of other honest CPAs looking for honest work. Dollar bills are the best ballot ever invented.

    Best,

    Ed

     

    * * *

    Edward J. Zohn, Attorney at Law

    Zohn & Zohn, LLP; 7 Mount Bethel Road, Warren NJ 07059

    908.791.0312 office; 908.229.0319 mobile; 908.660.4866 fax

    "Leges sine moribus vanae" (Laws without morals are useless) - U. of Penna. Motto

    www.zohnlaw.com

     




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