Economic Loss Analysis: Claims Management
In cases of business interruption, a valuation expert will estimate lost profits caused by fire, flood, or other unforeseen events, as well as project the economic loss caused by an injury or wrongful death. In short, it’s their responsibility to measure the value by which all parties are made “whole” after the accident or event. However, not all valuation professionals are created equal. Every economic loss profile is unique and therefore requires an experienced and knowledgeable professional to give an independent, well-reasoned and well-supported opinion.
It’s important to exercise a great deal of care when selecting a valuation expert. You can start by looking for the following credentials:
ABV and CPA Designations: Our team consists of certified CPAs with the Accredited Business Valuator (ABV) distinction.
Financial Forensics and Turnaround Experience: At Lakelet Advisory Group, we are Certified in Financial Forensics (CFF) and hold the distinction of Certified Turnaround Professional (CTP).
Knowledge About the Economy: Our extensive experience across a host of industries including Financial Services, Health Care, Manufacturing, and Technology have equipped us with knowledge necessary to succeed in business valuation services.
Strong Communication Skills – The courts, Internal Revenue Service, and other authorities demand an experienced, credentialed valuation expert who can effectively communicate their findings. Often this means seeking the expertise of a person who devotes all or substantially all of their professional efforts toward providing business valuation services.
At Lakelet Advisory Group, LLC, our experts are highly experienced and credentialed. We offer both business valuation and forensic accounting services, enabling us to ensure we have the best information available and can deliver the most accurate measure of economic loss based on that information. Our team has the ability to examine large amounts of complicated data in an efficient and cost-effective manner, and report solid conclusions supported by careful analyses.
Business interruption cases are complex, and can have far-reaching implications for business owners, employees, suppliers, and consumers. Working with a credentialed and experienced business valuation expert isn’t just a good idea; it is vital for the recovery of your business.