12:53pm PT by Ashley Cullins
Top Hollywood Accountant Launches Profit Participation Audit Firm
Hollywood accounting practices are front and center in many entertainment disputes, but completing an audit can take years — so industry veteran Michele Gentille is launching a new firm to specialize in third-party profit participation audits, according to a Monday announcement.
Auditing plays a key role in profit participation lawsuits, which are rampant in Hollywood. As it is the first step, if Gentille's firm can clear some of the audit backlog it could lead to an influx of new legal filings and private arbitrations.
Gentille & Company aims to be a one-stop shop for audit recommendations and procedures and expert witness consulting services — without the typical wait.
“The opportunity to provide our clients with industry-leading service in a timely, expedient manner is incredibly exciting to our team," Gentille said in a statement to The Hollywood Reporter. "Anyone who has gone through an audit knows, it can be a lengthy, excruciating process. It’s our aim to shorten that timeframe and get third-party participants their fair share of the revenues earned as a result of their efforts and or financial investment.”
Gentille boasts more than 25 years of experience in production and distribution audits for motion pictures and television. Her team has worked with every major studio and television distributor, including performing audits on more than two dozen of the top grossing live-action films.