2022 Financial Forensics Year In Review

 

Written by: Megan Ramey, CPA and Chandler Simich, CPA

As 2023 begins, it’s natural to look back on the past year and take stock of all it held. We are grateful to have overcome a challenging 2020 and 2021 due to the COVID-19 pandemic, and we have carried that resilience into the new year and can look back on 2022 as a year of continued growth. 2022 marked many successes for Cogence Group, and we are happy to present a few of our notable achievements below.

Here at Cogence Group, we are best known for our Financial Forensic Services. With more than 30 years of trial experience in more than 165 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 2022 for our firm

2022 BY THE NUMBERS

The team members of Cogence Group were engaged in 56 Financial Forensic matters that were in progress or settled in 2022.

Out of the 56 Financial Forensic matters team members of Cogence Group testified in 2 cases in 2022.

PROJECT BREAKDOWN

Overall Our Team Handled 56 Financial Forensic Matters in 2022

Financial Forensic Highlights:

  • We were jointly engaged by counsel for both parties as the business valuation expert in an ongoing divorce case involving a fourth-generation family business. Transparent and equal access to us during the valuation was critical in helping the settlement process move along

  • We were hired by 32 various law firms in five different states

    • Including working with 7 out of the top 10 law firms in Portland

  • The matters we worked on spanned the following 28 industries:

    • Agriculture (5%)

    • Aviation (2%)

    • Billboard Advertising (4%)

    • Bioscience & Health Technology (2%)

    • Cannabis (7%)

    • Commercial & Residential Real Estate (5%)

    • Construction (2%)

    • Education (2%)

    • Emergency Services (2%)

    • Energy (2%)

    • Family Trust (2%)

    • Financial Services (7%)

    • Food & Beverage (7%)

    • Government / Wastewater Treatment (4%)

    • Healthcare (5%)

    • Hospitality (2%)

    • Laboratory Services (2%)

    • Manufacturing (4%)

    • Marketing (2%)

    • Music Industry (2%)

    • Petroleum (2%)

    • Real Estate Appraisal Services (2%)

    • Retail (2%)

    • Senior Living Facilities (2%)

    • Short Line Railroad (2%)

    • Technology (3%)

    • Trucking (2%)

  • We performed 12 business valuations for litigated matters to be presented to the trier-of-fact

  • We collaborated with attorneys and industry experts to calculate the historical and expected future economic damages associated with out-of-home advertising. We prepared damages schedules and assisted attorneys with trial preparation. Cogence Group testified in court at the beginning of 2023, which resulted in a judgment for the plaintiff.

LOOKING AHEAD TO 2023!

As we celebrate the end of 2022, and the new year, we would like to extend our deep gratitude to all our clients and all who have contributed to our success in 2022.

 
ValuationCogence Group