KSV Advisory Canada’s Leading Boutique Advisory, Restructuring and Valuations Firm.

Forensic Accounting: Municipalities

We were retained by two municipalities in Ontario to perform a forensic review of the accounting records and operations of two non-profit rental housing projects. This involved an analysis of revenue, expenses, capital disbursements and the operations. We interviewed board members and reviewed board minutes.  

Our review identified many related party transactions and a lack of segregation of responsibilities. Subsequent to our review, the Board of Directors of both projects was replaced and additional internal controls were implemented.