Whether the case at hand involves patent infringement, breach of contract, bankruptcy, divorce, fraud or embezzlement, The BERO Group has the resources to provide you and your clients with the forensic accounting support you need.
The BERO Group specialists are experts at providing testimony using programs like Zoom and Skype.
Our experts are equipped with the knowledge, skill and dedication to adapt to any of your litigation needs.
Forensic accounting isn't just an ancillary aspect of our practice — it's what we do.
Our track record and list of satisfied clients speaks for itself.
By Ronald A. Bero, Jr., CPA/ABV, CFF
The majority of economic damages experts I am aware of are either CPAs or academics. Why are economic damages experts often CPAs?
What makes some CPAs uniquely qualified to be good economic damages expert witnesses?
This question has been stuck in my head for a while. As a not quite retired ultra-runner who spends hours alone in the woods, I have a lot of time for these stuck-in-my-head kinds of thoughts. On a recent run, it seemed I had solved this question when I thought about a bowl of ice cream.
Breach of contract
Franchise and dealership
Misappropriation of company assets
Embezzlement: Bribery, kickbacks, payoffs
White collar defense
eDiscovery and forensic imaging
Divorce: Tracing hidden assets
Friendly Patent infringement
Trade secret misappropriation
Trade dress infringement
Lost Business Value
Solvency / Insolvency
Contract / lost contract value
Trade Secrets / Patent Infringement
Expert witness testimony
Mergers and Acquisitions
Patents and patent portfolios
Trademarks & Copyrights
Contractual Damage Claims
Terminations for Convenience
Terminations by Default
Cost Recovery Issues
Adjusting Partially Terminated Contracts
Contractual Damage Claims
Commercial and General Topics
Not a how-to-calculate-damages book, but a process that The BERO Group calls
"The Pragmatic Solution" which can help you manage your damages case.
From start to finish, learn to work effectively and efficiently with your damages litigation team. This book will guide you through the steps to achieve success, offering a structure to engage fully with your damages analysis as you move from early preparation up to and through trial.
The Pragmatic Solution method will guide you through your work with your damages expert and help you develop a well-reasoned analysis that aligns with your liability case.
This new edition, edited by Nancy J. Fannon, Jonathan Dunitz, Jimmy Pappas, Bill Scally, and Steve Veenema, features 49 chapters drawing on the expertise of nearly 70 financial experts and attorneys.
The Comprehensive Guide to Economic Damages (6th Edition) combines the economic expert’s knowledge of damages calculations and methods with legal and case analysis. It provides a deep and rich resource for financial experts and attorneys seeking guidance on appropriate remedies and related damages calculations, and addresses many of the problems that may arise in any case. The breadth and depth of topics discussed, along with 300 court case digests, makes the Guide the most comprehensive body of knowledge relating to economic damages available.
You can find Rick Bero's contributing chapters in Volume One,
Part IV. INTELLECTUAL PROPERTY DAMAGES
Chapter 28. Patent Infringement Damages: Lost Profits and Royalties
By Richard F. Bero, CPA/ABV, CVA, CLP, and Autumn N. Nero, Esq.
Chapter 29. Design Patent Damages
By Richard F. Bero, CPA/ABV, CVA, CLP, and Christopher V. Carani, Esq.
Chapter 30. Trade Secret Damages
By Richard F. Bero, CPA/ABV, CVA, CLP, and Jon Margolies, Esq.
With over 20 years of experience working with legal teams on complex litigation issues, we are as confident on the witness stand as we are in our analysis. As a result, we anticipate counter arguments and provide solid support for our conclusions, and your success.
There are several forensic accounting firms that offer to act as damages experts and specialists in forensic accounting.
Few, however, possess the complete package of specialized knowledge and communication skills required for successful litigation outcomes.
Forensic Accounting experts at The BERO Group take full ownership of the cases they work on and are quick to adapt as members of your litigation team.
Known for being responsive, BERO Group forensic accounting specialists are also flexible, as they efficiently adapt to the changing circumstances, difficult schedules, and pressing deadlines related to important litigation issues.
The BERO Group will work with you and your litigation team, to build confidence and project credibility in the opinions we deliver to your client, opposing counsel, judges and juries. Our forensic accounting specialists possess the skills needed to offer you and your clients a rare combination of high-level technical proficiency, creativity, and sophistication in our approach to litigation.
When the financial stakes are high for your client, it matters who you choose as your expert witness. You can trust The BERO Group to provide thorough, credible, supportable damages opinions. We're the preferred forensic accounting financial experts for many highly successful attorneys because we're experts at valuing what matters.
What our clients say...
The BERO Group had been engaged by an Illinois based Not-for-Profit organization, RISE International, to perform a completion audit of their “Schools for Angola” project. The two and a half year long project resulted in construction of 26 schools in Angola at a cost of almost $9 million. The “Education Above All Foundation – Educate A Child Programme”, based in Qatar, contributed approximately $2.8 million toward the project. The audit performed by The BERO Group fulfilled the grant agreement requirement.
"The BERO Group performed a Grant Project Audit for RISE International. We were delighted to work with Jim McGovern and Jack Lazarczyk, and appreciated the time they took to understand the project, its detail, intricacies, and complexity. Extremely grateful for their expertise, thorough in-depth approach, experience, and professionalism, we highly recommend their work."
— Lynn Cole
Information you can use
I remember years ago my first wrongful death, lost wage (w-2 employee wage) claim. The economist quantified lost wages through the Social Security Administration’s retirement age and “discounted” them back to the present using the total offset method.
I understood the concept of the total offset method. What bothered me, however, was the idea that wages, through retirement age, were as certain (riskless) as a U.S. Government Bond.
While damage experts are usually aware of connecting damages with proximate cause, I am sometimes surprised by how misguided some experts' understanding of it is.
Damage experts and attorneys should know that any claimed damages must be proximately caused by the alleged wrongdoing(s). The concept of proximate cause dates back to at least 1858.
In the Capitolism Newsletter, I learned that Josh Hawley berated Walmart in a Twitter Tweet: “…for the pathetic wages you pay your workers as you drive mom and pop stores out of business.”
Mr. Hawley is ignoring the concept of sunk costs and perhaps knows most of us forget the concept often…
2020 ACFE Report to the Nations
The 2020 Report to the Nations is the ACFE’s 11th study on the costs and effects of occupational fraud and represents the latest in a series of reports dating back to the first edition published in 1996.
"Occupational fraud—fraud committed by individuals against the organizations that employ them—is among the costliest forms of financial crime in existence. There are more than 3.3 billion people in the global workforce, and nearly all of them have access to or control over some portion of their employers’ cash or assets. For the ones who decide to seek illegal gains, their workplace is, in many cases, the most logical and convenient target."
Organizations that trust The BERO Group to provide expert opinions and testimony