Clinton W. Davis is a Professional Associate with Sage Forensic Accounting, a consulting firm that offers specialized services in the areas of forensic or investigative accounting, economic damage analysis, and business valuation. Mr. Davis provides assistance in many aspects of both litigious and non-litigious engagements. This assistance has historically ranged from participating in complex commercial damage calculations to conducting fundamental research in business appraisals. Mr. Davis’ professional experience is summarized below.
I have been involved in performing appraisals in both cooperative and contentious environments for over seven years. I have assisted in calculating the value of closely held companies in a diverse number of industries for many different purposes, including: divorce settlements, ownership disputes, tax planning, and other business planning and litigation situations. My experience with business valuation has provided the opportunity for complex analysis in forensic accounting, economic, and financial matters. Regularly performing on valuation assignments has provided me with exposure to complex financial analyses such as evaluating industry and business risk, performing discounted cash-flow and income capitalization analysis, distinguishing between minority and majority interests and attributing discounts and premiums accordingly, and valuing operating and non-operating entities. The following is a brief summary of some of the varied assignments I have participated in:
- Assisted in calculating the value of closely held companies for purposes of gift and estate tax planning, management decision making, and divorce settlement.
- Assisted with the valuation of a carton manufacturing company which specializes in the production of custom rigid boxes, litho lam cartons, and regular cartons.
- Assisted with the valuation of an auto loan factoring company.
- Assisted with providing valuation consulting advice to the part-owner of an auto loan financing company.
- Assisted with providing valuation consulting advice to prospective owners of a fertility clinic.
- Assisted with providing valuation consulting advice of a nursing and rehabilitation clinic given during litigation.
- Assisted with the valuation of an outdoor griddle company which specializes in the sale of outdoor gas griddles and ovens.
- Assisted with providing valuation consulting advice to owners of fuel service facilities.
- Assisted with the valuation of a commercial construction company and real estate holding company which was used in litigation.
A vast majority of the engagements I am involved with require forensic accounting in some form. This could include tracing assets, analyzing financial forecasts and historical financial trends, and financial ratio analysis. The following is a list of some of the varied matters in which I have used my forensic accounting expertise to provide assistance:
- Performed investigative accounting services relative to the valuation and tracing of marital assets in divorce cases.
- Performed analyses including tracing operating and trust assets of a legal firm for use in a disciplinary matter.
- Performed analyses of expenses of an HOA to assist in reviewing allegations of mismanagement.
- Assisted with tracing assets for the investigation of alleged Ponzi schemes.
- Assisted with the forensic investigations of allegations of fraud and mismanagement.
- Performed investigative accounting services of certain claims relative to abuse of fiduciary duty over an Estate, identified distributions of and expenses of the Estate, and performed analyses of uses of funds of the Estate.
- Performed a review of business bank statements to assess the legitimacy business transactions.
- Assisted in performing a forensic audit of possible conflicts of interest and preferential treatment in a government position and the legitimacy of an associated fee model.
Evaluation of economic damages and related assessment of economic causation
Many engagements I am involved with require an analysis of economic losses. Types of economic loss analyses I have experience with include evaluating losses due to business interruptions, business destruction, business dissolution, personal injury, and wrongful death. I have assisted with preparing comprehensive expert reports in these matters to be used in litigation, settlement negotiations, private consulting. The following is a list of some of the varied matters in which I have used my expertise to provide assistance:
- Assisted plaintiff and defendant attorneys with analyses of various business interruption claims including lost profits and diminution in business value.
- Performed analyses to determine various loan values, interest calculations, and payoff periods based on disputed terms.
- Analyzed and assisted in computing economic damages arising from personal injury, wrongful death, and wrongful termination matters.
- Assisted in computing and analyzing economic damages arising from intellectual property matters.
- Assisted in computing and analyzing economic damages arising from breach of a federally subsidized loan agreement to be used for rural infrastructure development.
- Assisted in computing and analyzing economic damages arising from a patent dispute involving pharmaceutical technology.
- Assisted in evaluating economic damages arising from a lawsuit regarding property damage in construction contracts.
Critique and review of other financial experts
I am regularly involved with assisting in engagements for the purpose of reviewing the analysis of other financial experts. My experience with rebuttal analysis includes reviewing reports from other financial experts regarding business valuation, forensic accounting, and economic loss. The following list outlines some of the matters in which I have been involved:
- Evaluated and assisted in preparing rebuttal analyses of a report calculating damages resulting from intellectual property disputes and alleged price erosion.
- Evaluated and assisted in preparing rebuttal analyses of a report calculating damages resulting from alleged loans in default and investment property mismanagement.
- Evaluated and assisted in preparing rebuttal analyses of a report calculating damages resulting from alleged personal injury and wrongful death.
- Evaluated and assisted in preparing rebuttal analyses of a report valuing real estate holding companies.
Mr. Davis earned a Bachelor of Science degree in Accounting and a Master of Accounting degree from Utah State University.
- Certified Public Accountant (CPA), licensed in Utah,
- Certified Fraud Examiner (CFE) by the Association of Certified Fraud Examiners.
- Member of the American Institute of Certified Public Accountants,
- Member of the Association of Certified Fraud Examiners.
I have provided professional services for a wide variety of purposes and in a wide variety of matters. This variety is because the foundational principles in forensic accounting, valuation, and economic damages can be appropriately applied in many different situations, the following attempts to broadly summarize the different types of matters I have worked on during my career: