Jean-Philippe Poissant

Jean-Philippe “JP” Poissant coheads Cornerstone Research’s accounting practice. Mr. Poissant has more than a decade of experience in financial and accounting consulting in complex litigation and regulatory proceedings. He specializes in accounting and financial reporting, financial investigations, valuation, damages, and corporate governance issues. Mr. Poissant’s industry expertise includes financial institutions, investment management, life sciences, natural resources, real estate, and technology. He manages large case teams, working with multiple experts through all phases of the litigation process, from pre-litigation investigation to trial. He has experience with state and federal courts, regulatory enforcement, mediation, and arbitration.

Mr. Poissant is a certified public accountant (CPA), a certified fraud examiner (CFE), and accredited in business valuation (ABV). He has qualified as a chartered business valuator (CBV) and a chartered professional accountant in Canada (CPA).

Mr. Poissant’s representative case experience includes:

Accounting and financial reporting

• Evaluated numerous financial accounting and reporting claims pursuant to U.S. Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS), including revenue recognition, contingent liabilities, variable interest entities (VIE), goodwill impairments, accounting for financial instruments, allowance for loan losses, materiality, transfer of financial assets, segment reporting, business combination, and foreign currency transactions
• Evaluated audit procedures in securities litigations and enforcement matters brought by the Securities and Exchange Commission (SEC) and Public Company Accounting Oversight Board (PCAOB), including accounting for goodwill, financial instruments, unusual transactions, going concern, audit sampling, impairment of assets, and fair value
• Analyzed cost accounting and managerial accounting processes to evaluate price-fixing allegations, reasonableness of financial projections, basis for fees charged by a governmental entity, and compliance with agreements
• Analyzed the appropriateness of internal controls over financial reporting in cross-border mergers and following restatements

Financial investigations

• Reviewed large databases of financial and banking records to investigate alleged financial frauds
• Conducted solvency analysis of companies in various industries
• Evaluated alter ego allegations related to a failed real estate enterprise
• Conducted forensic analysis of alleged construction defects in residential developments
• Assessed the timing and extent of executives’ stock option exercises, restricted share issuance, and stock sales in several securities class actions
• Evaluated compliance of disclosures and policies of various investment management companies and advisors

Valuation

• Performed enterprise valuation of investment management partnerships in connection with a dispute among partners
• Valued the earn-out provision “but for” alleged wrongdoings in a post-merger dispute
• Estimated decline in enterprise value resulting from alleged management wrongdoing

Damages

• Analyzed damages claims in federal and state courts related to the liquidation of private investment funds
• Estimated damages analysis related to alleged breaches of contract in partnership and supply agreements
• Assessed lost earnings related to key-person insurance claims
• Estimated unjust enrichment of promoters of several investment companies and projects

Corporate governance

• Evaluated the board of director decision-making process related to claims against directors of a failed public company
• Assessed the consistency of company policies with governance best practices
• Analyzed the timeline of a proxy fight in a shareholder dispute
• Analyzed reasonable executive compensation in a shareholder oppression dispute

Before joining Cornerstone Research, Mr. Poissant was a manager in the Valuations, Forensics, and Disputes practice of PricewaterhouseCoopers (PwC). Previously, he was a senior associate in PwC’s Audit and Assurance practice.