Skip to Main Content

Ms. Adoria Lim is a Certified Public Accountant (CPA) with over 15 years of experience in accounting and finance at a Big 4 accounting firm, a Fortune 500 publicly traded company, and top-tier and boutique consulting firms. She focuses on cases that involve accounting, auditing, finance, and damages issues.

Ms. Lim has over a decade of litigation experience. She has directed research involving the evaluation of financial accounting and disclosures with regard to Generally Accepted Accounting Principles (GAAP), the evaluation of audit and review procedures with regard to Generally Accepted Auditing Standards (GAAS), the evaluation of the adequacy of Internal Controls Over Financial Reporting (ICFR), and the appropriateness of cost accounting allocations. Ms. Lim’s expertise includes the preparation of pro forma and carve-out financial statements, “but for” cost and profit estimates, loss causation and damages analyses, and financial forensic analysis. She has reconstructed financial records, traced transactions through corporate accounting systems, reviewed payment and cash flow information, and determined liquidity and equity positions.

Ms. Lim has supported clients in securities class actions; SEC, DOJ, and PCAOB investigations and enforcement actions; tax disputes with the IRS; alleged auditor and other professional malpractice suits; alleged breach of contract matters; purchase price disputes; and intellectual property disputes. Her clients have included AOL Time Warner, Cisco Systems, Halliburton, LG Philips, Vivendi S.A., and Big 4 accounting firms.

Prior to joining The Brattle Group, Ms. Lim was a principal at Corporate Diligence Specialists LLC, where she performed financial due diligence related to mergers and acquisitions for private equity funds, investors, and lenders. Prior to Corporate Diligence Specialists LLC, Ms. Lim was a principal at Cornerstone Research, where she directed research on behalf of clients involved in complex commercial litigation.

Ms. Lim is a CPA in the State of California, a Certified Fraud Examiner, and is also Certified in Financial Forensics (CFF) and Accredited in Business Valuation (ABV) by the American Institute of Certified Public Accountants (AICPA).

Representative Engagements
Disgorgement analysis in FCPA matter
Directed research on behalf of a multi-national construction company under investigation by the SEC and DOJ for bribes paid to foreign officials to obtain construction contracts in Nigeria, a violation of the Foreign Corrupt Practices Act. Analyzed ill-gotten gains by applying various measures of revenues, costs (including cost of capital), profits, and cash flows. Reviewed internal management reports, dividend distributions, foreign exchange gains and losses, and intercompany revenue and cost allocations. Client settled with the SEC and the DOJ.
Cost accounting analysis related to tax controversy
Directed research on behalf of an international online retailer accused by the Internal Revenue Service (IRS) of allocating insufficient costs from its domestic operations to its foreign operations in the context of an intellectual development cost sharing agreement. Analyzed the company’s cost accounting, common costs, and the company’s allocation of intellectual development costs.
Financial accounting and reporting
Directed research in numerous matters involving the evaluation of whether transactions were recorded and disclosed, and financial statements were prepared, in accordance with Generally Accepted Accounting Principles (GAAP). Areas of research have included revenue recognition, special purpose vehicles, allowance for loan losses, reserves for product returns, the timing and amount of asset write-offs, vendor financing, guarantees, repurchase agreements, and marketing allowances.
Evaluation of audit procedures in auditor malpractice suit
Directed research on behalf of a Big 4 accounting firm accused of failing to meet audit standards in its audit of a failed investment bank. Evaluated whether audit and review procedures related to repurchase agreements complied with Generally Accepted Auditing Standards (GAAS).
Loss causation and damages in auditor malpractice suit
Directed research on behalf of a Big 4 accounting firm accused by the Federal Deposit Insurance Corporation (FDIC) of failing to meet audit standards in its audit of an internet credit card bank. Analyzed the FDIC’s loss resulting from the alleged failure and how, if any, changes in the audit firm’s behavior could have reduced that loss. Arbitration panel ruled in favor of client.
Testimony
Benchmark Institute Fiscal Monitoring, Expert Report
Proposed Debarment of Mr. Wallace Haislip and Mr. Julian Eidson, Expert Report

Charles Des Roches, et al. v. California Physicians' Service d/b/a Blue Shield of California, et al.,

Expert Report and Deposition

South Mississippi Electric Power Association v. Plum Point Energy Associates, LLC, Expert Report, Deposition and Testimony in Arbitration Hearing

Publications
Article
The Do's And (Mostly) Don'ts Of Non-GAAP Measures
March 03, 2017
Published in Law360

In a Law360 article, Brattle Principal Adoria Lim and Associate Chi Cheng studied the correspondence between numerous companies and the SEC to identify and categorize the SEC’s hot buttons that may lead to enforcement actions, including litigation.

Article
Due Diligence is the Mother of Good Luck
June 02, 2016
Published in the June 2016 Issue of Financier Worldwide
Article
Non-GAAP Measures: The SEC Awakens
December 22, 2015
Published in Practice Points, a publication of the ABA's Securities Litigation Committee
Article
The unaccounted cost of accounting – sounding terms in purchase agreements
December 2015
Published in the December 2015 issue of Financier Worldwide
Article
What Makes Securities Class Actions with Accounting Allegations Different?
2011
Elaine Harwood, Adoria Lim, and Laura Simmons
Published by the American Bar Association
News & Events
June 27, 2017
Adoria Lim to Discuss Accounting Fraud & SEC Investigations on The Knowledge Group’s Webinar

Brattle Principal Adoria Lim will present during The Knowledge Group’s webinar, “Accounting Fraud & SEC Investigations: What Lies Ahead in 2017 & Beyond,” taking place June 27, 2017 from 3-5 pm EST.

March 03, 2017
Non-GAAP Measures: Do's and (Mostly) Don'ts

In a new Law360 article, Brattle Principal Adoria Lim and Associate Chi Cheng studied the correspondence between numerous companies and the SEC to identify and categorize the SEC’s hot buttons that may lead to enforcement actions, including litigation.

September 14, 2016
Adoria Lim to Present During Live Webcast on Non-GAAP Measures

Brattle Principal Adoria Lim will present during The Knowledge Group’s webinar, “The SEC Revised Compliance and Disclosure Interpretations (C&DIs): Time to Rethink Your Firm’s Current Non-GAAP Measures,” taking place September 14, 2016 from 10:00 am – 12:00 pm EST.

June 02, 2016
Adoria Lim Authors Article on Due Diligence in M&A Transactions for Financier Worldwide

Brattle Principal Adoria Lim recently authored an article published in the June 2016 issue of Financier Worldwide discussing the importance of financial due diligence in mergers & acquisitions (M&A) transactions.

May 27, 2016
Adoria Lim to Present and Torben Voetmann to Moderate at ABA’s Western Regional CLE Program on Class Actions and Mass Torts

Brattle's Adoria Lim will present and Torben Voetmann will moderate at the American Bar Association’s (ABA) 3rd Annual Western Regional CLE Program on Class Actions and Mass Torts, which will take place at the Bar Association of San Francisco on May 27, 2016, at 2:00 pm – 3:00 pm PST.

February 22, 2016
Brattle Economists Author Law360 Article on New Accounting Standards' Impact on Litigation

Brattle Principal Adoria Lim and Associate Chi Cheng have authored an article for Law360 on the ongoing changes in the U.S. accounting standards initiated by the Financial Accounting Standards Board (FASB) and their impact on litigation.

December 22, 2015
Adoria Lim Comments on Non-GAAP Measures in ABA's Practice Points Publication

Brattle Principal Adoria Lim contributed to Practice Points, a publication of the ABA’s Securities Litigation Committee, on the use of non-GAAP measures.

December 09, 2015
Adoria Lim and Yvette Austin Smith Author Financier Worldwide Article on Accounting Terms in Purchase Agreements

Brattle principals Adoria Lim and Yvette Austin Smith recently authored the article “The unaccounted cost of accounting – sounding terms in purchase agreements,” published in the December 2015 issue of Financier Worldwide.

October 21, 2015
Accounting and Finance Expert Adoria Lim Joins The Brattle Group

The Brattle Group announced today that accounting and finance expert Adoria Lim has joined the firm’s San Francisco office as a principal.

Personal Interests

Adoria frequently lectures at universities across the United States. She has been a lecturer at Princeton University, New York University (NYU), University of Southern California (USC), and the University of California, San Diego (UCSD). She lives in San Francisco, where she was born and raised. She enjoys running, swimming, and spending time with her daughter.