J.H. Cohn LLP has announced the formation of the Client Economic Recovery Team (CERT) - a new multidisciplinary group of experts assembled to support, advise, and assist financial institutions and public corporations affected by the rapidly evolving financial environment. In addition to assisting senior executives, Board members, and their advisors in addressing the risk management and regulatory compliance requirements of the Troubled Assets Relief Program (TARP), CERT has the resources and expertise to assist companies navigating the challenges and opportunities that the current financial environment creates. TARP was created as part of the Emergency Economic Stabilization Act of 2008, which authorizes the U.S. Treasury to spend up to $700 billion in recovering the markets, including a $250 billion equity stake in entities such as commercial and investment banks, insurance companies, and others.
“We expect the changing regulatory environment and the general economic slowdown to create both opportunities and challenges for businesses in many sectors of the economy,” stated Thomas J. Marino, J.H. Cohn’s chief executive officer. “Since 1919, our firm has built its reputation guiding clients through the tough times and our top cross-functional team has been assembled to address the many issues clients are sure to face.”
CERT will draw on the expertise of specialists from J.H. Cohn’s Business Investigation Services, Corporate Governance Services, and Financial Services practices to assist such entities as banks, insurance firms, and credit card companies. Services include Crisis Management, Enterprise Risk Assessment, Governance and Regulatory Compliance, Strategy Development and Deployment, Forensic Accounting and Litigation Support, Financial Reporting and CFO Advisory Services, Bankruptcy/Restructuring and Financial Recovery, Internal Audit, Business Valuation, and Merger/Acquisition Transaction support.
Anthony Zecca, CPA, Cohn Consulting Group’s managing partner and a highly regarded strategy consultant and governance/risk management expert, will head the team.
“CERT will be a valuable resource for companies and government agencies that need an experienced team to complete projects or to supplement a company’s internal resources,” stated Zecca. “Members of our team have served large multi-national companies as well as the Federal government in its investigation of prior corporate abuse. Helping companies navigate through the coming changes and capitalize on opportunities will be our major objective.”
Bernard Katz, CFE, CPA, who heads J.H. Cohn’s Business Investigation Services practice, will lead the efforts in forensic accounting, restructuring and financial recovery, business valuation and due diligence services, litigation support and financial restructuring.
“Our approach to serving the needs of corporation and governmental agencies during the coming months will be highly methodical, practical, and thorough.” explained Katz. “As a firm with fewer conflicts than the large national accounting firms, our experienced staff can be quickly mobilized to assist on engagements throughout the United States.”