In addition to our expertise in reviewing invoices for incorrectly applied federal, state and local taxes, fees and charges, we routinely review our carrier clients' wholesale invoicing data, including Call Detail Records and related Carrier Access Billing System-based billing records. This effort assists our clients in correctly billing applicable charges, identifying and/or resolving billing disputes between carriers, in many cases avoiding protracted collection actions or legal proceedings.
Due Diligence and Advisory Services in Asset Sales, Mergers, and Bankruptcies
We assist our clients with financial and economic analysis for purposes of corporate restructuring such as transfers of assets, corporate mergers and bankruptcies. This includes due diligence analyses as well as strategic planning on integrating assets into or divesting assets from existing operations. We have served as advisors to state utility commissions on mergers and acquisitions involving large, telecommunications carriers including the Hawaii Public Utilities Commission on the sale of Verizon Communications' Hawaii operations to The Carlyle Group (2004) and the Maine Public Utilities Commission on the sale of Verizon Communications' Northern New England operations to FairPoint Communications (2007).
Financial and Management Audits
As long-time industry participants, managers and former regulators, our team has been called-upon to perform agreed upon procedure and management audits. For example, we have assessed communications carrier compliance with FCC and state jurisdictional separation and affiliate transaction rules. In 2014, we conducted a management audit on the efficiency and effectiveness of the Kansas Universal Service Fund at the request of the Kansas Legislature. We also performed similar audits of the Vermont and Wyoming universal service funds in prior years.
We have partnered with other consulting teams to perform management audits in the power industries. For example, our analysts co-authored reports presented to the Public Utility Commission of Ohio in Case No 07-0589-GA-AI (Report of Conclusions and Recommendations on the Financial Audit of Duke Energy Ohio, Inc. In Regard to Case) and Case No. 07-0829-GA-AIR (Report and Conclusions and Recommendations on the Financial Audit of the East Ohio Gas Company d/b/a Dominion East Ohio).