When Do I Need Trustee, Monitoring and Receivership Services?
When trust has deteriorated, or when fiduciary duties go unfulfilled, a receiver or financial monitoring trustee may be a cost-effective solution. Cherry Bekaert is routinely engaged or appointed directly by judges to provide you reliable forensic accounting and financial advisory solutions.
As a receiver, for example, the order of appointment can be tailored to the issues at hand and allow the fiduciary 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 encompass:
- Recovery and analysis of enterprise-wide data.
- Independent investigation and discovery of documents and compilation of relevant facts.
- Clarification or reconstruction of complex financial transactions.
- Application of forensic accounting techniques to unearth critical facts in discovery and quantify damages.
As a receiver, taking control of a business being used to perpetuate a fraud requires speed, financial agility and technology. Cherry Bekaert’s team includes former law enforcement officials, Big Four auditors and special agents who have experience in leading financial crimes units. This experience and knowledge assures that you are making sound decisions when dealing with tough and unfamiliar trustee, monitoring and receivership situations. We work with you to quickly assess your situation, apply the lessons of our past experience, and design an appropriately-scaled investigation to be performed in a phased, cost-effective manner.
Corporate Monitoring Services
Prosecutors and regulators frequently require the appointment of corporate monitors to verify a company’s integrity and 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 complying with settlement terms, get the help you need from our professionals, who can:
- Serve as independent monitoring trustees;
- Provide forensic accounting, investigative and other analytical support services to monitors;
- Assess compliance programs and systems of internal controls; and
- Report to government agencies.
Your situation is as important to us as it is to you. We apply our resources and knowledge to help you avoid unnecessary interference with your business operations and control costs, while still maintaining our independence.
Effective compliance programs are critical in preventing potential threats and preventing violations of laws that can tarnish your organization’s image, impact your business relationships, and threaten your financial viability. 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 potential threats facing your organization.