Finding And Using A Forensic Accountant

Solicitors often appear to be reluctant to use a forensic

accountant; even in cases where instructing a forensic

accountant might significantly strengthen their clients case or

undermine that of their opponent. Is that because forensic

accountants are perceived as expensive and unapproachable, or

simply because the solicitor has seldom used a forensic

accountant in the past and so would not feel comfortable

finding and using one?

David Winch, of NIFA member Accounting

Evidence Ltd, explores the potential benefits and costs of

using a forensic accountant and gives some tips about selecting

and instructing one.

What is a forensic accountant?

When people ask me what I do I say, "I am a forensic

accountant". Usually they look impressed, for a moment.

Then they ask, "What is a forensic

accountant?".

The short answer is that a forensic accountant is an

accountant who assists with the financial elements of cases

being prepared for, or heard in, court. Sometimes he may be

referred to as a litigation support accountant. He may act as

an expert witness at trial.

When should a forensic accountant be

used?

There will be a variety of situations in which a solicitor

could make use of a forensic accountant. One might be required,

for example, where a valuation is required of a business, or an

asset, or even a lost opportunity. This could be in relation to

matrimonial proceedings, personal injury, an insurance claim

for damage or loss, infringement of a patent or copyright,

breach of contract the list is endless.

Alternatively a forensic accountant might be used by a

solicitor in civil or criminal proceedings in relation to

alleged crime or proceeds of crime. This is the field in which

I specialise.

The common factor in all these situations is that there is a

dispute involving money or value. An expert opinion from a

seasoned professional forensic accountant can carry substantial

weight in such disputes.

There may also be a mass of accounting records or data, the

meaning of which is difficult to glean. In these circumstances

a forensic accountant can be invaluable to rapidly focus on

important information and explain its significance.

Why should a forensic accountant be

used?

A forensic accountant is able to provide a professional,

objective and independent opinion on matters within his

field.

The documents and evidence relevant to a dispute may be

number-intensive and might require analytical skills not

ordinarily found amongst solicitors and barristers...