What is a forensic accountant?
I am often asked what I do, the answer to which of course is “I am a forensic accountant.”. The general response to that is “oooh that sounds interesting…..” followed by “but what does that mean?”
The simple answer is that a forensic accountant deals with any form of dispute which involves a financial loss.
A forensic accountant regularly works with solicitors and barristers either on civil or criminal matters.
Civil matters tend to involve some sort of financial loss, be it a loss of profits, earnings or a loss of value in a business or shares. For example, contractual, partnership or matrimonial disputes, breach of warranty claims, business interruption claims and personal injury claims.
Criminal matters normally involve defending an individual who has been accused of fraud, or defending a Proceeds of Crime confiscation order made against an individual once convicted.
Furthermore, forensic accountants are often called upon to investigate suspected fraud within an organisation.
Using their forensic skills, a forensic accountant will be able to help a business work out what has happened, how it has happened, value the loss and avoid it happening in the future.
As well as being expert in their field, a forensic accountant will also act as an expert witness and will be called upon to give evidence in Court.
For more information on our forensic accounting services, please contact Rob Miller.