The Real Estate Services practice at McGovern & Greene provides highly effective consultation, project auditing, and expert witness services to Owners, Contractors and Developers. Our Certified Public Accountants, Certified Fraud Examiners and Certified Cost Consultants posess the skills and experience needed to address the complex financial issues and disputes facing the Real Estate/Construction Industry today.
Should your organization be damaged by wrongful acts, faced with a contract dispute, or require project auditing, our CPAs and consultants can provide the superior professional consultation and support you need to ensure that your assets and bottom line are protected.
Claims Consulting & Project Audits
M&G has extensive experience assisting both contractors and owners with assessment, preparation and rebuttal of claims. Our team members average 20+ years of experience in this field and we have addressed claims for delay, disruption, acceleration, and differing site conditions on all types of projects including CM, GMP, FFP, CPFF, T&M, Design Build, and Fast Track. We have audited project costs and analyzed claims on a myriad of building types including schools, hotels, casinos, hospitals, prisons, dormitories, laboratories, power plants, office buildings, and high-rise residential.
Both James L. McGovern, CPA/CFF, CVA and Craig L. Greene CFE, CPA/CFF, have significant experience testifying as expert witnesses in state and federal courts.
Representative engagements include work on the following projects: Century Theatres, IL; Venetian Casino, NV; Tuba City Boarding School, AZ; Disney Concert Hall, CA; JFK Airport, NY; SAHC – Hyatt Resort, NM
Our firm is regularly retained to examine financial records in matters involving partner and investor disputes. We often are called upon to determine and account for inappropriate and unsupported fees and expenditures charged to real estate projects, and to determine equitable distributions of partnership earnings.
Contract Compliance & Cost Recovery Audits
At M&G, our specialists help clients ensure compliance and recover amounts lost due to non-compliance with contract terms. These services include audits of vendors and subcontractors and Owner Credits Verification.
Government Contract Accounting
M&G assists contractors with accounting and financial issues specific to federal contracting including government cost principles, incurred cost proposals, termination settlements, equitable adjustment proposals, and assistance with bids and proposals.
Capital Budget Management
Our firm assists owners in tracking the progress of projects and anticipating cash flow requirements to aid in asset management and funding decisions.
Our team is routinely retained to provide fraud examination services when allegations of internal and/or external fraud arise. Our team members have worked on many fraud examinations involving real estate and construction activities including: contractor and subcontractor overbilling schemes; embezzlement by employees and officers of real estate and construction management companies; theft of public funds by corrupt property owners and developers; bid rigging by contractors; disputes between business partners; and official corruption cases involving corrupt developers and contractors.
We have also worked on behalf of contractors, developers and real estate management companies in their defense when accused of wrong-doing.
Team members have been retained to examine Common Area Maintenance ("CAM") charges to determine proper allocation and justification of expenses assessed to tenants. One such examination resulted in a significant reduction of these assessed expenses due to original misrepresentations by the landlord in negotiating the lease. Landlords have also retained team members to determine allocations of CAM to tenants. Retail property owners have used our services in determining unreported revenues generated by tenants.
Government Funding and Grant Recipient Disputes
M&G specialists were retained by a state government agency to investigate allegations of fraud involving community grant funds. This extensive and high profile examination found evidence of fraud involving the misrepresentation of capital contributed by the recipient to the project. In addition, team members discovered many fictitious transactions and companies designed to assist the recipient in "looting" the project.
Condo Developer Turnover Examinations
M&G is highly experienced in examination of turnover documents and financial records from Condominium developers to determine the financial condition of the Association, as well as the Developer's compliance with the State Condominium Act. These examinations have often revealed unfunded capital reserves, inappropriate developer expenses, and other claims.