2024 Financial Forensics Year In Review

Written by: Megan Ramey, CPA, CFF, ABV and Chandler Hiller, CPA

Earlier this year, we reflected on the numerous Business Valuation assignments we worked on in 2024. This month, we’re turning the spotlight on our Financial Forensics services and the impactful work we did throughout 2024.

Here at Cogence Group, we are best known for our expertise in Financial Forensics. With over 30 years of trial testimony experience in more than 180 cases, our team brings integrity, knowledge, passion, and credibility to every matter. Our team communicates our findings to judges and jurors with clarity and conviction, making us a critical piece to the litigation process.

The following is a Financial Forensics recap of 2024 for our firm

2024 BY THE NUMBERS

Overall Our Team Handled 53 Financial Forensics Matters in 2024

Of the 53 matters, the team members of Cogence Group were engaged in 45 Financial Forensics matters that were in progress or settled in 2024.

Out of the 53 Financial Forensic matters handed in 2024, Cogence Group team members provided expert testimony in eight cases.

PROJECT BREAKDOWN

Financial Forensic Highlights:

• Financial Forensic matters comprised 81% of our total 2024 services

• We provided the following types of Financial Forensic Services: Business Interruption Claims, Economic Damages, Forensic Accounting, Marital Dissolution, Shareholder Disputes, Trade Secrets & Intellectual Property, and Wrongful Termination, Personal Injury, and Wrongful Death

• We were jointly engaged by counsel for both parties as the business valuation expert in a contentious shareholder dispute involving an environmental consulting firm. Transparent and equal access to us during the valuation was key in facilitating progress towards a buyout

• We were hired by 30+ law firms in five different states

  • Including working with 6 out of the top 10 largest law firms in Portland

• The matters we worked on spanned the following 22 industries:

  • Advertising (3%)

  • Agriculture (3%)

  • Automotive (5%)

  • Cannabis (5%)

  • Commercial & Residential Real Estate (7%)

  • Construction (14%)

  • Consulting (2%)

  • Energy (2%)

  • Entertainment (5%)

  • Financial Services (9%)

  • Food & Beverage (7%)

  • Healthcare (7%)

  • Logging (2%)

  • Logistics (2%)

  • Manufacturing (12%)

  • Non-Profit (5%)

  • Oil & Gas (2%)

  • Retail (2%)

  • Sports and Entertainment (2%)

  • Sportswear Manufacturing (2%)

  • Trucking (2%)

• We collaborated with attorneys and industry experts to calculate the economic damages in a complex breach of contract, trade secret misappropriation, and tortious interference case. We prepared damage schedules, supported trial preparation, and provided expert testimony, resulting in a jury award of over $3 million for our client.

LOOKING AHEAD TO 2025!

As we reflect on our achievements in 2024 and look ahead to the opportunities of 2025, we extend our heartfelt gratitude to our clients and colleagues. Your trust and partnership have been essential to our continued success.