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 Exhibiting at The Florida Bar Construction Law Institute
March 8, 2018
VERTEX’s Kevin Maxwell and Dan Mondo will be attending and exhibiting at the 11th Annual Florida Bar Construction Law Institute in Orlando, Florida on March 9th and 10th. The purpose of the Institute is to gather leading, experienced and establish construction law practitioners, contractors and other industry professionals for a two-day seminar focused on in-depth, leading…
VERTEX Sponsors 4th Annual Risk Control Event at Coors Field
March 7, 2018
VERTEX is proud to be the drink sponsor at the 4th Annual Risk Control for Architects, Engineers and Environmental Professionals event at Coors Field in Denver, Colorado on April 11th. This year’s topic will be Trends and Strategies for Improved Performance and Profitability. Presentations will be given by legal, insurance and risk control professionals in connection with…
VERTEX Exhibiting at Joint Civil & DoD CBRN Symposium
March 6, 2018
VERTEX’s Cliff Cooper, Erik Borgesen and Michael Plainte will be attending and exhibiting at the Joint Civil & DoD CBRN Symposium in Alexandria, VA on March 5th and 6th. They will be showcasing our new Air Tracer technology that enables clients to measure an air parcel as it moves through a building. The 6th Annual Joint Civil & DoD…
Denver Business Journal Awards VERTEX as a Top Engineering Firm
March 2, 2018
Denver Business Journal recently awarded VERTEX as a Top Engineering Firm. Announced on February 16th, VERTEX was ranked in the Top 25. Rankings were based on the number of licensed engineers in Colorado since November of 2017. Learn more about VERTEX’s work in the mountain west.
VERTEX Exhibiting at the Texas Construction Law Conference
March 1, 2018
VERTEX is excited to be attending and exhibiting at the 31st Annual Construction Law Conference at The La Cantera Resort & Spa in San Antonio, Texas. The conference will take place on March 1st and 2nd. Stop by our table and say hello to Alan Barnes, Aaren Benson and Lance VanDemark. Looking forward to seeing you there! For…
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…
What are Cumulative Impact Claims in construction litigation? If numerous impacts including change orders, directives, differing site conditions, RFI’s, work suspensions, and disruptions affect a construction project, the overall effect of these events is usually greater than the sum of the effect of individual events. Construction claims that occur under such circumstances are referred to as…
Surprising Construction Defect on New Builds - Blocked Plumbing
September 25, 2017
The above images show PVC pipe partially filled with concrete and construction debris. This was photographed on-site at a new construction development. VERTEX served as an expert for this construction defect claim, filed by the property owner claiming faulty plumbing/drainage. Investigation of the plumbing revealed major blockage by construction debris, plaster and dried paint. Plumbing…
It is obvious that we are in the midst of a very active and dangerous hurricane season. The development of consecutive storms: Harvey, Irma, Jose, Katia, has a lot of people asking questions. Many are also struck by the intensity of the 2017 hurricane season. Harvey had record breaking rainfall with 51.88″ recorded. That’s now…
Over the first two quarters of 2017, we have witnessed some interesting trends. Year to date, the NASDAQ is up by 15.36% and the S&P500 is up by 8.81%. The NASDAQ growth has largely been fueled by high tech companies such as Apple and Amazon. Despite the robust equities market, the US gross domestic product…