Sook J. Lee, CPA, CFF, CFE
Education and Certifications
- Master of Science in Accounting, Specialization in Taxation, University of Illinois at Urbana-Champaign
- Bachelor of Science in Accounting, University of Illinois at Urbana-Champaign
- Certified Public Accountant, Licensed in Illinois
- Certified in Financial Forensics
- Certified Fraud Examiner
Professional & Civic Involvement
- American Institute of Certified Public Accountants
- Illinois CPA Society
- Association of Certified Fraud Examiners
- Leader Council, Mercy Home for Boys & Girls
- Board Member, Illinois Equal Justice Foundation
- Former Finance Chair, Associate Board, HFS Chicago Scholars
- Volunteer, Tax Assistance Program – Ladder Up
Sook has over 13 years of experience in providing financial and litigation consulting services to clients in a wide range of industries including, but not limited to, professional services, securities, telecommunications, pharmaceuticals, insurance, construction and manufacturing. She provides financial modeling, damages and accounting analysis as well as expert testimony, litigation and arbitration support to clients involved in complex commercial disputes, accounting malpractice claims, government investigations, general business disputes, and tax controversy matters.
Prior to joining Natoma Partners, Sook was an associate director in the Disputes and Investigations practice at Navigant Consulting. Prior to Navigant, Sook was a manager in the Disputes and Investigations practice at Huron Consulting Group.
Representative examples of Sook’s engagement experience include the following:
Expert Report and Testimony Support:
- Issued a declaration for a large freight rail transportation company in a tax dispute. Defended the company’s methodology of quantifying refunds related to certain employment taxes for multiple entities. The Court granted the company’s motion for summary judgment honoring the refund claims of $22 million.
- Assisted in writing three separate expert reports for a capital management company who filed a suit against an alternative investment management firm over a life insurance fund. Analyzed hedge fund investment accounts, researched market indices, presented damages calculations and provided on‐going support to outside counsel and damages expert.
- Provided expert testimony support to Big Four and other accounting firms in audit malpractice cases brought forth by bankrupt corporations against their auditors based on a damages theory of deepening insolvency. The issuance of expert reports and expert testimony resulted in zero damages to clients in two separate matters.
- Assisted in preparing an expert report to evaluate the reasonableness of a major U.S. telecommunications company’s cost allocation methodologies related to its calculation of administrative costs associated with managing the Universal Service Fund program.
- Assisted in writing an affidavit for a class action lawsuit against a major U.S. insurance company in a dispute involving determination of diminished value of automotive vehicles with branded versus unbranded title.
- Assisted in writing an expert report and preparing the expert for deposition testimony in a trade secret and patent infringement case brought against a construction company. Reviewed and analyzed relevant legal and financial documents related to the construction of two similar power plants.
Litigation and Discovery Support:
- Quantified incremental costs for a Fortune 500 telecommunications company to update technology in order to provide television services in compliance with the California Utility Code.
- Provided preliminary exposure analysis and damages support to a manufacturing corporation involved in class action employment litigation. Analyzed ADP payroll and HRIS information to quantify potential exposure.
- Managed a team who served as the lead forensic accounting consultant to a publicly-held company undergoing Department of Justice investigations. Provided litigation and discovery support to company’s outside counsel in a qui tam case involving False Claims Act (“FCA”) and Anti‐Kickback Act (“AKA”). Responsible for all quantitative aspects of the litigation, including the collection, assembly and communication of historical accounting, finance and operations statistics for over 20 federal contracts spanning a ten‐year period. Reassembled the operations and financial picture of large systems integration projects to compare contractual responsibilities with functional requirements and project deliverables. Worked with financial statements and systems, accounting and billing data, project management tools and implementation methodologies, and general industry and company research. Successfully supported outside counsel to limit the scope of the litigation to a small subset of federal contracts, which ultimately led to a favorable outcome for the client.
- Assisted a global management consulting and technology services company involved in a forensic litigation matter in connection with the loss of confidential information of state taxpayers. Managed and performed processes to review and analyze a large volume of documents to identify, preserve and collect data containing confidential information.
- Provided litigation consulting services to major telecommunications carriers with regard to three separate contract disputes over transmission rates, billing practices and early termination. Assisted with drafting and issuing expert reports. Reviewed and analyzed contractual agreements, billing invoices and call detail records. Researched complex accounting issues, analyzed financial statements, created damage models and performed valuation analyses.
- Performed litigation consulting services to a temporary staffing business in a dispute involving the handling of workers’ compensation insurance claims. Researched and analyzed industry trends and historical success rates of temporary staffing agencies. Performed business valuation to analyze profitability and sustainability of the company.
Accounting and Fraud Investigations:
- Conducted an independent forensic accounting investigation of the Australian operations of a Fortune 150 multi‐national corporation and presented findings of accounting fraud to the Securities and Exchange Commission (“SEC”). Assisted the company’s audit committee with financial reporting and disclosure of restatements. Analyzed cookie jar reserve accounts to identify and confirm intentional earnings management.
- Conducted a forensic investigation of a U.S. subsidiary of a Korean conglomerate in response to the DOJ’s grand jury subpoena. Provided litigation support to outside counsel by identifying key accounting and tax issues to minimize financial exposure and analyzing tax implications.
- Led a joint team from Chicago and Singapore to investigate and validate a claim of US$250M for a Malaysian conglomerate of cable and television network in an arbitration matter. Presented the client with a supported claim of US$228M ahead of an arbitration hearing in Singapore, which resulted in an award of US$230M to the client.
- Assisted in providing accounting services to a Fortune 500 company surrounding its financial restatement, including investigative accounting, interpretations of GAAP and financial modeling.
- Assisted in performing a fraud investigation of various accounting issues of a federally‐chartered secondary mortgage market maker on behalf of the company’s Board of Directors by reviewing and identifying crucial documents and performing key analyses.
- Provided consulting services to a chemical manufacturing company in a litigation concerning the tax treatment of its wholly‐owned partnership subsidiaries. Analyzed financial statements, tax returns and accounting data to challenge IRS adjustments to the partnership returns over a ten‐year period. Assisted with drafting three separate expert reports by performing tax research and conducting financial analyses. Worked with outside counsel and the client to collect, analyze, prepare and validate accounting and financial information.
- Assisted a large software company involved in a transfer pricing dispute with the IRS. Reviewed assumptions used in complex financial models to quantify the potential impact of the IRS’s proposed buy‐in adjustments.
- Assisted counsel of a large research‐based pharmaceutical company in a billion dollar transfer pricing dispute case with the IRS by reviewing and analyzing relevant financial records and organizing massive amounts of data into a comprehensible database form to define the tenability of the client’s position with regard to its R&D expenditures.