Trustee, Monitoring & Receivership

When trust has deteriorated, or when fiduciary duties go unfulfilled, a receiver or financial monitor may be a cost-effective solution. We have worked with, and served as, both.

Receiver, Examiner & Trustee Services

We have been engaged as accountant and financial advisors to receivers, examiners and trustees, and we have also been appointed directly by judges to serve in these fiduciary roles. As a receiver, for example, the order of appointment can be tailored to the issues at hand and provide the fiduciary the authorities and powers to successfully manage the affairs of a business or asset during a pendency of a dispute. Some of the authorities and powers of the appointment will provide for us to:

  • Recover and analyze enterprise-wide data.
  • Independently investigate, gather and document relevant facts.
  • Clarify or reconstruct complex financial transactions.
  • Apply forensic accounting techniques; and quantify damages in a variety of receiverships, bankruptcies, wind-downs or involuntary liquidations.

As a receiver, taking control of a business being used to perpetuate fraud requires speed, financial agility and technology. Cherry Bekaert has former law enforcement officials, Big Four auditors and special agents, who have been in charge of financial crimes units, on our team. This experience and knowledge gives you some confidence that you are making sound decisions when dealing with tough and unfamiliar situations. We work with you to quickly assess a situation, apply the lessons of our past experience, and design an appropriately scaled investigation to be performed in a phased and cost-effective manner.

Compliance

Effective compliance programs play critical roles in warding off potential threats and preventing violations of laws that can tarnish a corporation’s image and impact its business relationships and even threaten its financial viability and bring a business down. When you need full-scale assessments, process improvement and support for compliance programs, our professionals bring detailed knowledge of their fields and industries to your projects. We help find the gaps or breaches in the status quo. When you’re ready for the next phase, let us help you design and implement a continuous improvement program for your corporate compliance program and internal controls to minimize the potential threats faced by the organization.

Corporate Monitoring Services

Prosecutors and regulators frequently require the appointment of a corporate integrity monitor to verify a company’s compliance with the terms of a settlement. The appointment of a monitor extends the reach of law enforcement by enabling the government to conditionally suspend a prosecution or enforcement action while a company works to implement agreed-upon business and compliance reforms. Cherry Bekaert has the necessary resources to serve as an independent monitor across most industries and professions.

When you’re in the process of righting wrongs and complying with settlement terms, get the help you need from our professionals, who can:

  • Serve as independent monitors
  • Provide forensic accounting and investigative and other analytical support services to monitors
  • Assess compliance programs and systems of internal controls
  • Report to government agencies

Your case is as important to us as it is to you. That’s why we apply our resources and knowledge in such a way as to avoid unnecessary interference with ongoing business operations and to control costs, while still maintaining our independence.