Kelly Lancer consults on complex accounting, financial reporting, internal control, and auditing issues in litigation, internal investigations, and regulatory proceedings. A certified public accountant (CPA), Ms. Lancer analyzes corporate disputes, general damages, purchase price dispute issues, and cost accounting issues, including in the context of securities matters and mergers. She also works on matters involving alleged fraud, bribery, corruption, and other financial irregularities.
Ms. Lancer’s industry experience includes financial institutions; healthcare; life sciences; manufacturing; and technology, media, and telecom (TMT). She leads teams to support experts and clients in all phases of litigation, including discovery, affirmative and rebuttal reports, depositions, arbitration, and trial.
Commercial disputes and general damages
Across a range of litigation matters, Ms. Lancer has quantified damages and applied technical accounting standards to issues related to internal control, purchase price disputes (both working capital and earnout disputes), accounting malpractice claims, liquidation proceedings, and business insurance. Her experience includes:
- Assessing alleged damages stemming from the breach of a long-term service agreement between healthcare providers
- Quantifying the net economic value of a business unit in a dispute over an alleged breach of contract
- Evaluating causation claims against a public accounting firm in a suit where a former audit client sought damages due to loss from bankruptcy
- Supporting an expert in a class action lawsuit against a technology company involving claims of untimely impairment charges related to goodwill, intangible assets, and other assets under International Financial Reporting Standards (IFRS)
- Assessing the value of funds invested in and repaid by a company convicted of running a Ponzi scheme
- Supporting an expert to evaluate whether a telecommunication company’s use of Generally Accepted Accounting Principles (GAAP) revenue recognition standards was appropriately applied in determining the amount of revenue earned across a variety of bundled services
Financial reporting and internal control
Ms. Lancer has nearly fifteen years of experience with complex forensic dispute and investigative matters. She has led forensic accounting investigations into both whistleblower and regulatory allegations of fraud related to revenue recognition, channel stuffing, asset misappropriation, and avoidance of liabilities. In these investigative contexts, Ms. Lancer has assessed general ledger data, transaction testing, targeted email searches, and forensic interviews. She has also evaluated internal corporate processes to identify control gaps and design weaknesses. Her work includes:
- Assessing and responding to a Securities and Exchange Commission (SEC) investigation into an energy company’s revenue recognition practices, focused on deferred assets and factored receivables
- Analyzing extensive general ledger transactions to address allegations that funds were misused or inappropriately allocated by a recipient organization
- Examining potentially fraudulent state unemployment payments stemming from internal control lapses during the COVID-19 pandemic
- Coordinating an investigation into allegedly underreported sales and royalties at a large global retailer
- Evaluating gross sales, inventory, and accounts receivable to identify evidence of alleged channel stuffing at a pharmaceuticals company
Accounting in antitrust matters
In numerous pending mergers, Ms. Lancer has consulted on accounting issues arising in second requests. Her representative engagements include:
- Analyzing the financial performance of a travel management company as a failing firm in the context of a pending merger
- Assessing projected and achieved synergies in a merger between two upstream oil and gas companies
- Consulting on numerous cost and managerial accounting matters related to direct and indirect costs, variable and fixed costs, and cost allocation methodologies
Thought leadership
Ms. Lancer coauthors Cornerstone Research’s annual report on Accounting Class Action Filings and Settlements.
Before joining Cornerstone Research, Ms. Lancer spent nearly a decade at a leading global financial advisory firm, where she oversaw high-stakes forensic reviews and investigations.