Decosimo Advisory Services Practice Growth Leads To Specialized Management Appointments

Tuesday, August 20, 2013

Decosimo, a top 100 regional accounting and business advisory firm, continues to experience growth within its Decosimo Advisory Services practice prompting the addition of director roles for the firm’s specialized valuation and litigation support service lines.  Appointed to director of valuation services is Shannon Farr, who formerly served as director of healthcare valuation, and the new director of litigation support is Sharon Hamrick, who formerly served as senior manager.

The revenue for Decosimo Advisory Services, which includes business valuation, litigation support, forensic accounting and transaction advisory services, increased in excess of 25 percent for the 12-month period ending June 30.

“Providing clients and attorneys with the highest level of advisory services has been an integral part of the Decosimo firm’s offerings since its founding in 1971,” said Mike Costello, a principal who serves on the firm’s management committee. “The depth and breadth of our staff and our experience is what allows us to give expert testimony in venues such as the United States Tax Court.” 

“The promotion of Shannon and Sharon underscores our commitment to the continued growth and quality of our advisory practice,” said Tom Decosimo, a principal representing the Decosimo Advisory Services practice. “We are pleased to have built a dynamic practice that attracts talented professionals such as Shannon and Sharon, as well as repeat business and trust from our clients.”

In their director roles, Ms. Farr and Ms. Hamrick will be responsible for the overall management of their respective Decosimo valuation services and litigation services teams. While the Decosimo Advisory Services practice group is based in the firm’s Chattanooga office, its valuation, litigation support, forensic accounting and transaction advisory specialists serve clients and testify as expert witnesses in local, state and federal courts nationwide.

Decosimo Advisory Services is also pleased to announce that Senior Manager Pamela Mantone, a published author and accomplished forensic accounting and financial fraud detection expert, is focusing her talents in the litigation support services area under Sharon Hamrick’s leadership. 

Ms. Farr joined Decosimo in May 2007 and attained advanced credentials including the Accredited in Business Valuation and Certified in Financial Forensics designations during her tenure with the Tennessee-based firm. She specializes in business valuation and litigation support for cases involving valuation issues. In addition to valuations for estate and gift tax purposes, ownership transactions and strategic transition planning, Ms. Farr has specialized expertise in healthcare valuation and is a member of the American Health Lawyers Association. She also performs fair value for financial reporting valuations to be used in purchase price allocations and goodwill impairment testing. Her valuations for litigation support and expert witness testimony have been used in numerous marital dissolution cases, as well as shareholder disputes. Ms. Farr is a member of the Tennessee Society of Certified Public Accountants and the American Institute of Certified Public Accountants. A graduate of the University of Tennessee’s College of Business, Ms. Farr frequently lectures on valuation topics such as fair market value determinations in healthcare and personal and enterprise goodwill in marital dissolution.

Ms. Hamrick, a certified fraud examiner with CFF credentials, has extensive experience in financial analysis and preparation of expert reports for state and federal courts, especially related to litigation involving embezzlement, contract disputes, breach of contract, manufacturing and supply disputes, wrongful termination, personal injury and wrongful death. She has provided litigation consultation services to both plaintiff and defendant attorneys. Ms. Hamrick earned a Bachelor of Science degree in Business Administration from Middle Tennessee State University. She is a member of the AICPA and its Forensic and Valuation Services Section, the Association of Certified Fraud Examiners and the TSCPA. Ms. Hamrick has made presentations on fraud prevention and risk assessment and has written articles for various publications. 



Scam Phone Calls Continue; IRS Identifies Five Easy Ways To Spot Suspicious Calls

The Internal Revenue Service issued a consumer alert today providing taxpayers with additional tips to protect themselves from telephone scam artists calling and pretending to be with the IRS.   These callers may demand money or may say you have a refund due and try to trick you into sharing private information. These con artists can sound convincing when they call. They ... (click for more)

CBL & Associates Properties To Pay Common And Preferred Stock Dividends

CBL & Associates Properties, Inc. Thursday announced that its Board of Directors has declared a quarterly cash dividend for the company’s Common Stock of $0.245 per share for the quarter ending Sept. 30. The dividend is payable on Oct. 15 to shareholders of record as of Sept. 30. The Board also declared a quarterly cash dividend of $0.4609375 per depositary share for the ... (click for more)

Plan Revived For 5-Story Boutique Hotel Next To The Walnut Street Bridge

Plans have been revived for a five-story boutique hotel next to the Walnut Street Bridge. Vision Hospitality Group said the yet-to-be named hotel will provide 90 rooms featuring high-end amenities and exemplary service in the city's art district. Plans for a similar hotel were announced in 2012, but the proposal was later withdrawn. The hotel is slated for 102 Walnut ... (click for more)

Grand Jury Says County Needs To Start "Immediately" On Funding A New County Jail

Members of the Hamilton County Grand Jury said in a final report that the county needs to start "immediately" on funding a replacement for the Hamilton County Jail. The report, read by Foreman Robert Smith, says, "The Jail is near and/or over capacity and understaffed!  Hard-working corrections officers are in constant danger.  Being responsible for 80-100 inmates per ... (click for more)

Better Plan For Walnut Street Hotel

Mitch Patel and his Vision Hospitality Group have unveiled a revised plan for a hotel on Walnut Street. It is much better than the one proposed two years ago. By having no curb cuts on Walnut Street, it makes that special block near the bridge more inviting and safer for pedestrians. Deliveries would be off Riverfront Parkway and hotel access (valet parking) would be off Aquarium ... (click for more)

Thanks For Making The Southern Brewers Festival A Success

Now that the dust has settled I'd like to thank Chattanooga for supporting the Southern Brewers Festival and making it yet another very successful event.    For those who do not know - the SBF benefits the Chattanooga chapter of Kids on the Block and the Chattanooga Community Kitchen.  As a partner helping the SBF with volunteers, sponsorships and the overall production ... (click for more)