Skip To Content
Spotlight

Member Spotlight: Ramona Farrell

Meet Cape Fear CREW Member Ramona Farrell

Current Company & Position: Farrell Insights LLC, Founder/Owner

Summary of your role in the company: Farrell Insights is a single-member limited liability company, which means "tag, I'm it". I am responsible for business strategy, business development, and securing and leading the forensic accounting and business consulting engagements, which includes providing expert witness testimony in court. I am fortunate to have independent contractors who work on engagements with me when needed.

In addition to direct engagements by business owners or attorneys, which leads to referrals, I promote my skills, services, and "how to" through speaking engagements for different organizations. The topics range from fraud, and ethical behavior, to professional and personal development.

How I chose my occupation: My occupation chose me. While I hold professional credentials, I am not an accountant or CPA, and I don't necessarily get excited about debits and credits. I developed my forensic accounting skills and specialization through opportunity and trusting in myself that I could do it. While working on an asset tracing matter years ago, I quickly learned that I have a talent for following the money trail and understanding that numbers tell a story, and behind the numbers are people's lives.

Over time I developed my people/business management skills and was fortunate to become a partner and be elected as the managing partner of a boutique CPA firm, which later attracted the attention of a national CPA firm. It was in this setting that I honed my business advisory skills and realized that business owners often sought me out as a sounding board or in an advisory capacity.

Years in the business: 20+

My specialization is: forensic accounting (fraud/embezzlement and special accounting matters) and business advisory for owner/management issues

A good lead for me is: A good lead for me is a referral from someone who had a positive experience and benefitted from using my services or is someone who heard one of my presentations and reaches out to me because they believed I would be the right person to help them.

Since launching Farrell Insights in 2020, CPA firms have contacted me to assist their clients with potential fraud matters, or their owner strategic growth issues, and have become a good referral source.

The satisfying part of my job: What is most satisfying about my job is fulfilling my purpose which is to bring calm and clarity to chaos and provide avenues of closure. Addressing financial issues, especially those that involve feelings of betrayal, and difficult owner/management issues can be emotional and impact individuals differently. My ability to help individuals and companies navigate tough times, to be a sounding board and that person who assists them with moving forward is very satisfying for me. Being a business or professional development coach (some have called me a life coach) for others is very rewarding.

I also enjoy the diversity of my work - staying in the CREW world, my more recent client engagements have included investigating and testifying in court in a $4.2M fraud matter between a general contractor and its project manager, assisting a commercial real estate investment company with strategic growth strategies, working on owner transition and project management issues with an architecture firm, and consulting with a commercial real estate investor on projects with questionable accounting practices and use of funds issues. I have also served as a mentor for young professionals.

Best leadership advice I have been given: Stay true to who I am and "just be you". Over the years as challenging growth opportunities came my way, my own personal leadership advice to myself has been "Why not me?".

Number of years with CREW: 7

Who introduced you to CREW: A CPA firm in Greenville, SC, which is where I lived for about six years before moving to the Wilmington area.

Place of birth/hometown: Sault Ste Marie, Michigan, and hometown, Presidential Lakes, New Jersey

Number of years in the Cape Fear region: 1.5

I joined CREW because: I attended a CREW meeting and could feel the desire of its members to help each other, to make life better for the professionals in the room, and that appealed to me. Making a difference, and having a positive impact, is important to me and I believe my services and professional experiences are unique and can add value for CREW's members.

Family: A supportive and understanding husband of 41 years and two lovely children who are both adults; our awesome son chose to serve his country and is an officer in the Army (married and has a 3-year-old son), and our fabulous and talented daughter lives in Nashville, TN.

My ideal vacation spot: Not sure I have an ideal vacation spot - although an early morning walk (6:30 am to 9 am in the spring/summer) on Wrightsville Beach with my husband is pretty ideal.

Hobbies / Interests: I enjoy reading, watching K-dramas, road-bike riding, and playing pickleball (yes, I am one of those people).

Other professional organizations I belong to:

  • Association of Certified Fraud Examiners

  • International Association of Financial Crime Investigators

  • North Carolina Association of CPAs (non-CPA member)

  • American Institute of Certified Public Accountants (non-CPA affiliated member)

  • Galliard Family Business Institute

  • Wilmington Chamber of Commerce

I wish I could: I wish I could write a book.

Feel free to include any additional information about yourself you would like to share: I am a veteran (Air Force) and I am a member of the Wilmington Rotary Club.