Glenn Parry

Forensic Accounting, Business Valuation and Litigation Support

"After many years working in some hard commercial environments, I can now apply my experience to deliver optimal client outcomes. From the client’s point of view, it’s the result and the time and cost with which it is achieved that really matters. Having spent so long addressing issues from that point of view, I always focus on delivering solutions that are cost effective."

Glenn has over 30 years’ experience working within commerce and professional practice, joining Jessups Accountants and Business Advisors in 2010. Prior to joining, Glenn held diverse roles including Chief Operating Officer, Director – Corporate and Commercial, Company Secretary, Group Financial Controller and General Manager Finance for a number of ASX Listed companies and a mid-sized privately held group. In addition to managing his own trade supply and property refurbishment business, he has substantial experience with construction, property development and management; and in the tourism & hospitality, media and horticulture industries.

Glenn is a business valuation specialist, accredited by Chartered Accountants Australia and New Zealand and has completed Expert Reports related to accounting, valuation, economic loss, fraud and other financial matters for the Supreme Court of Queensland, District Court of Queensland, Family Court of Australia, Federal Circuit Court and QCAT.

Glenn works predominantly with secured financiers, business owners, legal counsel, accountants and advisors. Glenn’s reputation has been earned by listening, understanding, efficiently identifying and assessing key issues and, as a result, developing and implementing an appropriately planned response. He has experience in compiling complex Expert Reports; advising on governance and management practices; and conducting business valuations, forensic investigations, contract management and fraud and economic loss assessments.

Additionally, Glenn has extensive experience in the implementation of successful turnaround strategies in business and in commercial & residential real estate environments.

Experience

  • Investigation and forecasting for a multi entity caretaking & management rights operation, provision of advice as to suitable restructuring which eventually formed the basis for an insolvency practitioner to administer a Deed of Company Arrangement.
  • Undertook a review of an economic loss claim against a major retailer following a customer’s injury. In the subsequent report, Glenn identified serious shortcomings in the original calculation of loss and demonstrated a sound, alternate methodology for loss determination which enabled fair settlement of the matter.
  • Joint appointment for an expert opinion as to valuation, transaction and taxation matters in a tripartite shareholder and multi-entity dispute.
  • Due diligence review for the acquisition and merger of a high profile passenger transport business with a turnover and assets of $35 and $50 million respectively. In his subsequent report, Glenn identified deficiencies in the operational transition planning within the business and confirmed profit and turnover forecasts.
  • Forensic review on behalf of a major liquor retailer, reviewing a patron’s substantial claim for losses following an injury sustained on the retailer’s premises. Demonstration that the claim calculations were based on inappropriate assumptions. Expert Report based on findings, the matter was fairly settled.
  • An integrated resort comprising residential estate development and significant resort and leisure facilities had been under varying forms of formal administration for over five years. The hotel and some leisure facilities had been under management by a major international operator. Glenn undertook a trading review of the hotel, provided a critique of sales and operations and monitored the implementation of such improvements. After 18 months, the trading improvements resulted in the property becoming increasingly attractive to mainstream investors. A contract of sale was settled representing a 40% increase in realisation from earlier distressed sales offers.
  • Provided operational and management assistance with regard to a complex rural land subdivision. Glenn renegotiated development conditions with Council, settled a long running dispute with neighbours and negotiated the withdrawal of caveats affecting the property. He then completed a complex arrangement of easements, registered titles, commissioned an agency based marketing campaign and successfully negotiated the sale and settlement of the holding.
  • On behalf of a vendor, Glenn conducted a forensic review of earn out calculations associated with a deferred acquisition payment following a business sale. Glenn found the purchaser to have under-reported earnings over two years by $4 million. While initially rejected by the business purchaser, the figure was upheld by an independent arbitrator.
  • Engaged by a regional book store chain to review its profitability and ongoing feasibility. Glenn recommended the improvement of administration and financial reporting processes, the rationalisation of operations as well as the reduction of overheads through co-location of operations with other not for profit entities and a partial transfer of its operations online.
  • Prepared numerous investigating accountant reports for various banks and SME clients. Glenn has conducted management and operational reviews, considered administrative controls and reporting, and analysed businesses profitability, asset values and viability. Where relevant, as basis for continued lending accommodation, Glenn has made recommendations to improve operations, administrative processes and reporting.

Services

  • Business recovery services
  • Business advisory services
  • Business valuation services
  • Economic loss determination services
  • Insurance claim and loss determination services
  • Forensic services
  • Property services

Industry experience

  • Agribusiness
  • Financial Services
  • Logistics
  • Manufacturing
  • Property
  • Retail
  • SME
  • Tourism and Hospitality

Qualifications and memberships

  • Fellow, Chartered Accountants Australia & New Zealand
  • Accredited Business Valuation Specialist (Chartered Accountants Australia & New Zealand)
  • Bachelor of Commerce, James Cook University

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