U.S. companies with international operations have a heightened awareness about risks associated with the Foreign Corrupt Practices Act (FCPA) in light of the intense scrutiny and hefty sanctions that have been imposed by the U.S. Department of Justice and the U.S. Securities and Exchange Commission. The anti-bribery provisions prohibit individuals and businesses from bribing foreign government officials in order to obtain or retain business and the accounting provisions impose certain record-keeping and internal control requirements. Both provisions should be a concern for both public and private companies, since involvement with corruption could result in sanctions and/or jail time as well as impact the organization’s reputation or that of their customers. The UK Bribery Act and Brazil’s Anti-Corruption Law are similar laws that have been enacted and could also impact U.S. companies doing business in those regions. SFG specializes in assisting organizations with anti-corruption and FCPA related services.
Organizations face a variety of unique challenges throughout their life cycle and sometimes need external resources with the right knowledge and experience to help them manage and resolve their issues. Some of these challenges involve events that require an urgent or immediate response, while others are less time sensitive but still need to be addressed with the appropriate level of knowledge and understanding. SFG’s professionals have worked with clients on a variety of matters involving investigations and forensic analyses. We have conducted countless informative, and interrogative interviews in various countries.
Corporations must be more adept than ever at managing risks related to regulatory scrutiny, criminal and civil litigation, loss of revenue, and damage to reputation. Whether your objective is to establish a robust compliance program, test and monitor the effectiveness of your existing program or respond to regulatory matters, SFG has a team of experts skilled in the areas of compliance, accounting, audit, internal controls and forensic investigations to assist you. SFG has worked extensively with board members, management, compliance officers, legal counsel and internal audit departments in areas such as implementing preventative controls, developing risk assessments, investigating allegations of fraud, and establishing remediation programs to resolve compliance issues. SFG is able to assist companies and their legal counsel with assessing, developing, monitoring, implementing and testing in various compliance areas.
Complex litigation and disputes continue to be a challenge for companies today, putting their financial well-being and reputations at risk. Organizations need the help of experienced litigators and other litigation professionals to get through these challenging situations and to achieve the most favorable outcomes possible. SFG’s accounting professionals work closely with clients and their counsel in any stage or throughout the duration of a litigation or dispute matter.
Electronically stored information plays an integral role in and forms the basis of global organizations today. More and more companies are finding the volume of their electronically stored information and the efforts that are needed to manage it are quite extensive and indeed challenging. The process of managing this electronic data can be overwhelming in general, but in cases involving regulatory responses, litigation or disputes, companies may need the assistance of forensic technology experts to effectively extract and manage their data. SFG’s team includes professionals who are seasoned in working with electronic data and have significant experience with E-Discovery and Litigation Consulting.
Companies performing U.S. Government contracts face a number of arduous challenges to ensure compliance with the myriad of applicable and ever changing procurement regulations. They also frequently encounter difficulties in obtaining federal contract awards and sustaining profitability levels in the current environment of shrinking federal budgets and heightened competition. To assist clients in meeting these challenges, we assist industry clients and their law firms with federal government bid protests and provide litigation consulting support and expert witness testimony to address the cost claims that often result from federal contracts and commercial subcontracts. We also provide consulting services in the specialized area of government property management.
Licensing agreements between licensees and licensors are often complex and leave much open to interpretation. Licensors frequently must rely on licensees to accurately calculate the proper amount of license fees or royalties due. Periodic compliance reviews or audits can not only ensure that the appropriate licensing revenue is being received, but can also provide licensees with an incentive to apply diligence in reporting going forward. SFG’s professionals have deep specialization helping both licensors and licensees evaluate compliance with contract terms and conditions.
Investing in a new facility for your organization can be a daunting task, especially when it is the first time your organization has embarked on a large scale capital project or it has been a while since doing so. Even if your organization has a robust capital program involving multiple projects each year, it can be difficult to stay informed on progress and make sure each project is being managed effectively. In any case, it is important to make sure that every effort is being made to keep your capital project(s) on schedule and within budget, manage individual project risks, and effectively report project(s) status to key stakeholders.
SFG’s expertise ranges from pre-construction risk assessments to project oversight to assisting with issues involving complex construction claims and/or litigation. We provide technical support to internal or outside audit teams to assist with identifying potential issues or concerns related to construction projects or contracts. We also provide support to internal/external audit teams during an internal corporate investigation, or as mandated by governmental agencies to uncover corporate fraud, bribery or corruption. Additionally, we provide litigation support and assistance to owners, contractors, surety companies, lenders and their counsel, in connection with the assertion or defense of construction claims and disputes that typically arise on construction projects.
Major disasters do not occur frequently, and when they do, no one is ever fully prepared. Organizations must act swiftly to assess damages and organize recovery efforts to minimize the disruption to their business and restore operations to the fullest extent possible. At the same time, businesses should act with urgency to assemble a team of professionals with the right knowledge and experience to manage the insurance claim process. Unlike insurers that have access to experienced, in-house professionals who routinely work with claims and only represent the insurer’s financial interest, most businesses are at a disadvantage when it comes knowing the nuances of loss resolution.
SFG’s Forensic Insurance professionals provide analytical support and assistance to companies through each step of the insurance claim process, from preliminary loss measurement through final claim resolution. SFG’s knowledge of insurance loss accounting can assist organizations with a variety of coverage areas.
Cryptocurrency is digital currency that uses encryption techniques, rather than a central bank, to generate, exchange, and transfer units of currency. Unlike cash transactions, no bank or government authority verifies the transfer of funds. Instead, these virtual transactions are recorded in a digitized public ledger called a “blockchain.” Individual units of the currency are called “coins.” There is limited guidance on how these transactions should be reported for US income tax purposes. SFG has taken on the challenge to take valid tax position for various clients to help report and minimize their tax burden.
Sierra Forensic Group (SFG)
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