Business Details
31 Years
experience
Trusted Forensic Accounting Services in River Edge
Since 1995, Chakonis & Pettit has provided forensic accounting and consulting services, specializing in insurance claims, litigation support, and business valuations. Our team leverages decades of combined experience to investigate financial discrepancies, measure damages, and deliver expert testimony for complex legal and insurance matters. We serve diverse industries, including financial institutions, healthcare providers, construction firms, and professional sports entities, with a proven track record handling cases ranging from $10,000 to over $450 million.Our partners, Michael S. Chakonis and Edward A. Pettit, bring extensive expertise in forensic accounting, certified public accounting, and business appraisals. We prioritize transparency, analytical rigor, and client-focused solutions, offering free seminars on loss measurement and fraud detection to support industry professionals.
Services
Business Valuation
Insurance Claims
Litigation Support
Theft Loss Investigation
Environmental Clean-up Analysis
Construction Dispute Resolution
Personal Injury Claims
Subrogation Cases
Contract Disputes
Business Interruption Claims
Details
- Year established: 1995
Highlights and features
- We offer over 25 years of forensic accounting expertise in complex insurance and litigation cases.
- Our certified public accountants have testified as expert witnesses in major legal proceedings.
- We handle cases ranging from $10,000 to $450 million with personalized partner-level attention.
- Our team includes a member of the Institute of Business Appraisers with nationwide seminar leadership.
- We provide free educational seminars on business valuations and loss measurement for professionals.
Services
Business Valuation
Our firm provides accurate business valuations for legal matters including divorce cases, partnership disputes, and buyouts. We use industry-recognized methodologies and have testified in court as expert witnesses. Our experience ranges from small businesses to multi-million-dollar entities, ensuring precise analysis tailored to each case.
Insurance Claims
We specialize in measuring property damage and business interruption losses for insurance claims. Our forensic accountants investigate books and records to identify concealed or distorted financial data, supporting prompt resolution. We handle cases from $10,000 to over $450 million, including catastrophic events like Hurricane Katrina and 9/11.
Litigation Support
Our litigation support includes expert witness testimony, fraud investigations, and lost profit calculations. We analyze complex financial data and present findings in clear reports for courts and legal counsel. Services also cover asset valuations, tax liability studies, and computer consulting for legal proceedings.
Theft Loss Investigation
We investigate theft losses through forensic audits and inventory analysis. Our team has uncovered unreported income via invoice discrepancies and laundry records, resolving cases involving silent partners and marital disputes. Our work often leads to settlements by exposing deceptive financial practices.
Environmental Clean-up
We assess environmental clean-up costs and financial liabilities for insurance and litigation purposes. Our expertise includes evaluating remediation expenses and verifying compliance with industry standards. We provide detailed reports to support claims and legal actions related to environmental damages.
People
Michael S. Chakonis
Managing Partner
With over 35 years in forensic accounting, Michael Chakonis directs investigative audits and business valuations. A Certified Public Accountant and Institute of Business Appraisers member, he specializes in litigation support, insurance claims, and fraud investigations. He has testified as an expert witness in major cases.
Edward A. Pettit, Jr.
Partner
Edward Pettit brings over 30 years of financial and forensic accounting experience. As a Certified Public Accountant, he focuses on litigation support, business valuations, and white-collar crime analysis. He has served as an expert witness and managed complex claims exceeding $300 million.
David C. Terwilliger
Manager
David Terwilliger holds a Master of Science and is a Certified Fraud Examiner. He specializes in forensic accounting, fraud investigations, and insurance claims. His work includes analyzing financial discrepancies, conducting audits, and supporting litigation cases with detailed reporting.
Questions
What types of cases do you handle?
We specialize in forensic accounting for insurance claims, litigation support, business valuations, fraud investigations, and environmental clean-up cases, including high-profile matters like 9/11 and Hurricane Katrina claims.
Can you assist with international claims?
Yes, we have experience in global investigations and have handled cases involving overseas travel, international financial institutions, and multinational corporations.
Do you provide expert testimony?
Our partners frequently testify as expert witnesses in court and depositions, offering insights on business valuations, fraud analysis, and damage calculations.
How do you approach fraud investigations?
We conduct thorough forensic audits, analyze financial records, and use specialized techniques to identify concealed assets or income, ensuring accurate evidence for legal proceedings.
What industries do you serve?
We work with financial institutions, healthcare providers, construction firms, professional sports entities, and legal professionals on diverse forensic accounting matters.
Do you offer educational seminars?
Yes, we provide free seminars to insurance professionals and accountants on topics like business interruption, loss measurement, and fraud detection.
