FacultyFaculty/Author Profile

Zachary S. Snickles

Grant Thornton LLP

Phoenix, AZ, USA


Experience

Mr. Snickles has spent his entire career in professional services and has expertise in both litigation support and forensic accounting matters. He also has extensive experience assisting clients in post-acquisition purchase price disputes in both a consulting capacity and neutral capacity. Prior to Grant Thornton LLP, he worked in the Core Assurance Services practice followed by the Fraud Investigation and Dispute Services practice of Ernst & Young LLP.

Litigation support and forensic accounting engagements

  • Litigation consulting and strategy
  • Economic damages calculations
  • Expert report preparation
  • Expert testimony preparation
  • Fraud investigations
  • Forensic interviews
  • Electronic document reviews
  • Forensic data analytics
  • Regulatory consulting and monitoring
  • Alternative dispute resolution
  • Malpractice defense
  • Post-acquisition purchase price disputes

Post-acquisition purchase price dispute experience

  • Global service companies – Retained as arbitrators for binding arbitration to prepare final determinations of working capital and purchase price. Issues involved:
    • International Financial Reporting Standards (IFRS);
    • determination of Earnings Before Interest and Taxes (EBIT);
    • shareholders’ equity accounts; and
    • calculation of final payment. 
  • Medical device manufacturer – Retained as arbitrators for binding arbitration to prepare final determinations of working capital amounts. Issues included:
    • appropriate recognition of assets and liabilities;
    • inventory valuation;
    • accounting for deposits received;
    • GAAP consistently applied vs. contractual language; and
    • apportionment of arbitrator fees.
  • Retail building suppliers – Retained as arbitrators for binding arbitration between two retail building suppliers, one in bankruptcy. Multi-million dollar disputed items included:
    • determination of inventory lower of cost or market (LCM); and
    • GAAP consistently applied.
  • Medical equipment manufacturer – Retained in a consulting role for a multi-million dollar post-acquisition earn-out payment dispute between a Fortune 500 Company and private enterprise in the medical equipment business. Issues related to:
    • interference;
    • revenue recognition;
    • expense allocations; and
    • determination of the earn-out amount under a purchase agreement.
  • Food manufacturer – Retained in a consulting role for an international public company to assist in crafting multiple submissions in a multi-million dollar working capital dispute involving the purchase of another entity. Issues related to:
    • accounts receivable reserves;
    • inventory valuation; and
    • accrued liabilities.
  • Airline industry – Retained in a consulting role for the seller of a regional airline carrier regarding a claim against them for allegedly breaching the representation and warranty passage of the purchase agreement related to interim financial statements being prepared in accordance with GAAP. Issue included:
    • inventory valuation;
    • asset impairment; and
    • materiality of alleged misstatements.
  • Cosmetic industry – Retained in a consulting role for the seller of a cosmetics brand to assist in crafting multiple submissions in a multi-million dollar working capital dispute. Issues involved:
    • inventory valuation; and
    • accrued expenses.

Separate of his litigation support, forensic accounting and post-acquisition purchase price dispute experience, Mr. Snickles has performed financial statement, SOX compliance, federal funding compliance and IT attestations for multiple clients in a wide variety of industries. Additionally he has performed transaction advisory services, business consulting services as well as restructuring and turnaround services for many different clients. 

Licenses, certifications and professional affiliations

  • Certified Public Accountant (Arizona, Illinois)
  • Certified in Financial Forensics (CFF)
  • Certified Information Technology Professional (CITP)
  • American Institute of Certified Public Accountants
  • Association of Certified Fraud Examiners
  • Arizona Society of Certified Public Accountants

Education

  • Master of Science in Accountancy (Cum Laude) – University of Notre Dame
  • Bachelor of Science in Management Information Systems and Entrepreneurship (Magna Cum Laude) – University of Arizona

Presentations & publications

  • “Contractual Accounting Language: Trouble Spots and How to Avoid Them (2016)
  • “Exposing Fraudsters Using Profiling and Forensic Data Analysis” (2016)
  • “New Era of Data Analytics” (2016)
  • “Forensic Interviewing” (2016)
  • “Bribery and Corruption Risks” (2013)
  • “Enron…10 years later” (2011)
Zachary S. Snickles is associated with the following items:
On-Demand Web Briefing  On-Demand Web Briefing M&A Hot Topic: Avoiding Pitfalls in Working Capital Adjustments and Earnout Provisions - M&A Hot Topic: Avoiding Pitfalls in Working Capital Adjustments and Earnout Provisions, Wednesday, October 26, 2016
Transcripts  Transcripts M&A Hot Topic: Avoiding Pitfalls in Working Capital Adjustments and Earnout Provisions - M&A Hot Topic: Avoiding Pitfalls in Working Capital Adjustments and Earnout Provisions, Wednesday, October 26, 2016
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