2021 Financial Forensics Year In Review
Written by: Megan Hoss, CPA
As 2022 begins, it’s natural to look back on the past year and take stock of all it held. 2021 was an especially busy year for Cogence Group as we took part in several Financial Forensic assignments put on hold in 2020 due to the COVID-19 pandemic.
Here at Cogence Group, we are best known for our Financial Forensic Services. With more than 30 years of trial experience in more than 160 cases, we have the integrity, knowledge, passion, and credibility to help you in the courtroom. We persuasively and clearly communicate our findings to judges and jurors, making us a critical piece to the litigation process.
The following is a Financial Forensic recap of 2021 for our firm
2021 BY THE NUMBERS
The team members of Cogence Group testified in 5 cases in 2021, 3 included deposition and trial testimony
Additionally, the team members of Cogence Group were engaged in 32 additional Financial Forensic matters that were in progress or settled in 2021
PROJECT BREAKDOWN
Overall Our Team Handled 37 Financial Forensic Matters in 2021
Financial Forensic Highlights:
Financial Forensic matters comprised 68% of our total 2021 services
We provided the following types of Financial Forensic Services: Business Interruption Claims, Data Analysis, Economic Damages, Forensic Accounting, Marital Dissolution, Shareholder Disputes, Trade Secrets & Intellectual Property, and Wrongful Death
We analyzed and synthesized over 2.6 million shifts of clock-in and clock-out data to provide valuable insights in our wage & hour class action matter
We were hired by 25 various law firms in four different states
Including working with 7 out of the top 10 law firms in Portland
The matters we worked on spanned the following 18 industries:
Aviation (5%)
Bioscience & Health Technology (5%)
Cannabis (11%)
Commercial & Residential Real Estate (14%)
Consulting (3%)
Disposal Services (3%)
Food & Beverage (3%)
Government / Wastewater Treatment (5%)
Healthcare (14%)
Insurance (3%)
Manufacturing (8%)
Meat Processing (3%)
Real Estate Appraisal Services (3%)
Staffing Agency (3%)
Senior Living Facilities (3%)
Short Line Railroad (3%)
Taxidermy (3%)
Technology (11%)
We performed 9 business valuations for litigated matters to be presented to the trier-of-fact
We collaborated with the attorneys and other experts to calculate the historical and expected future economic damages associated with technology that did not function as promised. We prepared damages schedules leading up to mediation, which aided in reaching a settlement