VERTEX’s forensic accounting practice works on actual or anticipated disputes or litigation in matters that involve construction.
Forensic Accounting Services
VERTEX provides construction accounting analysis including complete exposure analysis, joint control account administration, payment bond claim accounting, claim payment administration, accounting software analysis, financial statement evaluation, asset evaluation, salvage valuation, budgeting and cash flow analysis, payroll monitoring, prevailing wage and labor claims, income payroll and sales/use tax analysis, accounting office supervision, interim CFO and accounting staff, cost to complete estimates, construction delay cost analysis, claim and lien release negotiations, and specialized surety reports. VERTEX provides the expertise in construction and fund accounting to meet and exceed client expectations.
When funding a contractor, our clients require experienced personnel in construction and accounting to ensure receipt of funds from the project owner and proper disbursement of funds to subcontractors, vendors, suppliers, labor unions, etc. VERTEX provides expertise in fund control to ensure timely and accurate services.
VERTEX’s pool of experts has individually testified up to 150+ times in state courts, federal courts, traditional arbitration (AAA, JAG, etc.), and ICC arbitration. Our experts are qualified in construction claims, engineering issues, cost estimating, allocation, construction means and methods, surety completion contracting, and surety claims administration.
Construction Project Audits
VERTEX’s forensic accountants perform construction audits for project owners and sureties to ensure that the construction costs billed by the contractor and payments made by the owner are appropriate. Construction audits help to identify actual and potential overpayments, overcharges, and reimbursable expense issues.
Ron Boyle is the Executive Vice President of VERTEX’s Forensic Accounting Group. He has been an accountant for over 30 years, 26 of which have been in the surety, underwriting, and claims field. He has extensive knowledge of independent audits of construction companies. Currently, Mr. Boyle analyzes and reports the potential surety payment and performance bond exposure for various clients and performs on-site investigations of the books and records of bonded contractors; performs internal audit of surety expenditures; analyzes the financial condition of distressed contractors; reviews and analyzes surety payments to subcontractors and suppliers under surety financing agreements. In addition, Mr. Boyle evaluates and analyzes contractor claims against owners and subcontractor claims against contractors. Mr. Boyle also analyzes and reports the potential fidelity bond exposure for various clients and perform investigations of the books and records of parties claiming a loss due to acts covered by the fidelity bond. Mr. Boyle performs traditional accounting functions, such as reviews, compilations, tax research, lost profit analysis, cost segregation analysis and income and employment tax returns.
VERTEX is at West Coast Casualty's 25th Annual Construction Defect Seminar
May 17, 2018
VERTEX’s will be exhibiting at West Coast Casualty’s 25th Annual Construction Defect Seminar in Anaheim, CA on May 17th and 18th. If you see Chris Morley, Mark Degenaars, Kevin Maxwell, Matt Click, Pasha Ameli or Ashley Combs, be sure to stop and say hello! The West Coast Casualty Construction Defect Seminar series is the largest event of…
VERTEX at Massbuys Expo 2018. Greg Sampson, Chris Carleo, and Andrew Chagnan. VERTEX is excited to participate at MassBuys Expo May 10th. Stop by our booth (#134). We will have experts in design engineering, environmental, and construction to talk with, and you could win a football! VERTEX’s State-Wide Contracts PRF67 – DCAMM Environmental…
VERTEX is Proud to Support South Shore Health System
May 7, 2018
VERTEX is proud to support the South Shore Health System Foundation. Benjamin Strong, COO and Jeffrey Picard, President, are active members of the South Shore Health System’s Presidents’ Circle. South Shore Health System (formerly, South Shore Health and Educational Corporation) is a not-for-profit, tax-exempt, charitable Health System that provides a broad range of health services to…
VERTEX’s Project 50,000 was initiated earlier this month by our Phili-metro office. Congratulations to our PA team on opening the monumental Project Number! This project milestone represents a level of experience and achievement that few in the AEC industry can claim. This photo shows some of our PA team and was taken at lunch hour during…
VERTEX's Thomas Koch to be a Panelist at CREJ Sustainability Event
April 24, 2018
On April 26th, Thomas Koch, VERTEX’s Vice President of Industrial Hygiene & EHS Services, will be a panelist on “Well Building Update: What Landlords Need to Know” at CREJ’s Sustainability: Achieving the Next Level. This is CREJ’s principal Green Building event of the year with more than 200 attendees anticipated representing owners, brokers, property managers,…
Measuring the Reasonableness of Completion Costs Post Termination: Part 3
April 12, 2018
So far, we have covered how to determine if completion costs are reasonable and which completion costs should be considered reasonable. As we conclude our series, we will discuss which completion costs should not be considered reasonable. What Costs are Not Reasonable for Recovery? Costs may have been incurred in the completion of the work that are…
According to the National Institute for Occupational Safety and Health (NIOSH), over 500,000 people are treated each year for ladder related falls. Whether you use a ladder out in the field, in your workplace or at home, safety should always be your number one priority. At VERTEX, safety is part of our culture. We recently hosted…
Measuring the Reasonableness of Completion Costs Post Termination: Part 2
April 2, 2018
Last week, we discussed how to determine if completion costs are reasonable. As we continue the series, we will discuss which construction completion costs should be considered reasonable. When Are Costs Deemed Reasonable? Reasonableness can be a subjective determination. In cases of construction contracts under federal contracting guidelines, the Federal Acquisition Regulation (FAR) contemplates that…
Measuring the Reasonableness of Completion Costs Post Termination: Part 1
March 20, 2018
If an owner terminates its contractor for cause, or if a general contractor or construction manager terminates one of its subcontractors for cause, it owes the terminated party as well as its surety, if applicable, a duty to incur only the reasonable and necessary costs to complete the work. In other words, the non-default party…
Effective Facility Closure: A Risk Management Perspective
February 13, 2018
Facility closures need the effective application of project management techniques to ensure that the closure can effectively be completed with safe, physically secure, and economically, environmentally, and socially responsible outcomes. Risk management is among the key project management processes that provide systematic accounting of project uncertainties and risks to ensure a right set of strategies…