Cohen Sanderson Inc.
 

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Advisor to Management on Future Direction of Business

cohen-sanderson July 17, 2018 Uncategorized No Comments

Engagement¬† We were engaged by management to: -¬†Evaluate the business and provide advice on future direction - Ultimately we assisted in the sale of the business   Background The business was owned by cousins who had bought the company from their fathers. They had been...

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Advisor to Shareholder Selling Investment in Private Company

cohen-sanderson June 13, 2018 Uncategorized No Comments

Engagement We were engaged by a shareholder to: - Advise on value of shares - Structure the sale of shares - Assist in negotiation with the other shareholder   Background A 50% shareholder in a private company wanted to sell his interest. The shareholders’ agreement did not...

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What information is an accountant obligated to share?

cohen-sanderson June 13, 2018 Uncategorized No Comments

James Lane of Bersenas Jacobsen Chouest Thomson Blackburn LLP has written an interesting article called Accountants Caught in the Middle When a Client Breaks Up. The article discusses the circumstances under which an accountant is obligated to share information and with whom....

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How does an auditor get into trouble?

cohen-sanderson April 27, 2018 Uncategorized No Comments

Auditors get into trouble when they fail to comply with the standards of the audit profession and the audit doesn’t uncover errors in the financial statements. This happens more frequently than one might think. We’ve found that most auditors are qualified, competent and...

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When can an auditor or accountant face litigation?

cohen-sanderson April 27, 2018 Uncategorized No Comments

Claims against auditors or accountants can arise when an assurance engagement has been performed. Assurance engagements result in the auditor or accountant issuing a report on the statements and include audits and reviews of financial statements. An audit provides the highest level of...

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The Most Important Function in an Audit Firm

cohen-sanderson April 26, 2018 Uncategorized No Comments

Risk management and quality control are the most important functions in an audit firm. If these tasks are not properly performed, the resulting litigation can cause the firm to sustain enormous losses. Even if insurance covers the first few losses, firms that repeatedly have to defend...

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