Kristy_Serviss

Kristy L. Serviss CPA, CFE

Managing Director, KPMG

Background

Kristy Serviss is a Managing Director in KPMG's Forensic Practice in New York. She has more than 20 years of experience serving as an arbitrator, consultant, and independent expert in a variety of areas including post-acquisition disputes, litigation, commercial disputes, representation and warranties insurance claims, business interruption claims, generally accepted accounting principles ("GAAP") compliance issues, consultation on purchase agreements, and forensic investigations.

Professional and Industry Experience

Kristy frequently serves as a consultant and neutral arbiter leading complex alternative dispute matters including, working capital disputes, earn-out disputes, net asset value disputes, GAAP v. historical consistency issues, and other complex accounting issues across a variety of industries including, private equity, manufacturing, consumer goods, aerospace, telecommunications, infrastructure, pharmaceutical, healthcare, industrial materials, retail, utilities, financial services, media/entertainment, and food and beverage. She has significant technical knowledge in GAAP and is skilled in the analysis and interpretation of acquisition agreements. She also has experience in investigations of suspected fraud, accounting irregularities, anti-bribery and corruption diligence, and various other aspects of forensic accounting.

Select Client Experience:

  • Served as a neutral arbiter and/or consultant to both sellers and buyers in numerous arbitration proceedings in connection with post-acquisition disputes involving complex accounting issues, working capital purchase price adjustments, indebtedness adjustments, cash adjustments, transaction expense adjustments, fixed asset valuations, earn out provisions, recoverability of receivables and the related impact of such on the calculation of purchase price and contingent value payments. Accounting issues included revenue recognition, percentage of completion, inventory obsolescence, inventory valuation, spare parts, deferred income taxes, accounts receivables, allowance for doubtful accounts, accounts payable, bonuses, lease classification, warranty reserves, accrued expenses, costs in excess of billings, unbilled revenue, cost of goods sold, deferred revenue, intangibles, capitalization, extraordinary gains and losses, classification of accounts, sales taxes, worker's compensation, prepaid accounts, contingent liabilities, and goodwill.
  • Assisted several clients in connection with post-closing working capital disputes, indemnification claims, and breaches of representation and warranty insurance claims. Nature of claims related to breaches of financial statement representations, undisclosed liabilities, accounts receivables, internal controls, and inventory representations.
  • Assisted hundreds of clients in review of transaction agreements pertaining to purchase price adjustments, financial and accounting definitions, dispute resolution mechanisms, and representation and warranty provisions.

Appearances