Financial crime happens in abundance in the UK and around the world. People rehash the platitude “money is the root of all evil” because there is a general consensus that yearning for money can lead some to do unlawful things. From large scale money laundering crimes to personal insurance disputes, there are a range of financial issues that can be brought to the courtroom. Forensic accountants use their skills and expertise in finance to investigate these cases and analyse data/information to help lawyers defend or prosecute. Read on for an insight into the role of a forensic accountant expert witness.
Forensic accountants like our own come with a wealth of financial investigation experience. They can provide advice on all financial aspects of a dispute and conduct thorough analysis to make reasoned judgements. Forensic accountants can look beyond the numbers and use their expertise to investigate cases in detail before sharing their interpretations with the legal team. They specialise in helping lawyers analyse, interpret and present complex financial issues, providing solicitors with fresh, innovative perspectives.
A forensic accountant expert witness will be familiar with legal procedures and will understand what the solicitor requires. As trained professionals in their field, they’ll be able to draw from their knowledge of financial principles and apply them to the case in order to help resolve the dispute. No matter the complexity of the case, forensic accountants can determine whether or not criminal activities have taken place and provide a judgement on the financial information provided.
The nature of financial issues brought to court are very diverse. In a commercial dispute case, a business may have suffered a financial loss and need a forensic accountant to quantify the loss and strengthen the claim they make. Personal injury claims involving traffic or workplace accidents need a forensic accountant to calculate their losses in earnings, pensions etc. In fraud and financial investigations, forensic accountants can investigate, evaluate the facts and piece the evidence together to determine whether the law has been broken.
They can also perform crime analysis which involves compiling and interpreting data from crime reports in order to pinpoint trends. This helps law enforcement organisations spread resources more effectively. A key area of their expertise is in proceeds of crime which is when an accountant can determine how much money was made from the criminal activity and how much needs to be paid back. In compliance with the POCA (Proceeds of Crime Act), forensic accountants can help ascertain how much profit was generated and what should be confiscated from the convicted.
No matter the type of financial case you’re involved in, we have a forensic accountancy expert witness that will meet your requirements. We have experts in all areas of expertise so contact one of our team here and we’ll source you a forensic accountant that strengthens your legal case.