What is forensic accounting?
Forensic accounting is the use of investigative techniques, accounting skills and business skills to aid in the collection and formation of information to be used as evidence in court cases. As a discipline, it encompasses financial expertise, fraud knowledge, and a strong understanding of business reality and the working of the legal system.
The process includes:
- Reviewing the factual situation.
- Providing assistance in obtaining documentation necessary to support or refute a claim.
- Reviewing the relevant documentation to form an initial assessment of the case and identify areas of loss.
- Providing assistance with examination for discovery, including the formulation of questions to be asked regarding the financial evidence.
- Co-ordination with other experts.
- Reviewing the opposing expert’s damages report and reporting on both the strengths and weaknesses of the positions taken.
- Providing attendance at trial while hearing the testimony of the opposing expert and also providing assistance with the cross-examination.
Forensic accountants become involved in the assessment of economic loss damages in personal injury; assessment of damages in commercial disputes; business valuations for family law and commercial disputes; family law superannuation valuations; professional negligence claims; fraud investigation and fraud risk assessment; and business interruption claims.
Dolman Bateman has been specialising in forensic accounting for over 15 years, producing independent expert reports for law firms, corporations, insurance companies and government departments.
These easy-to-understand reports explain and quantify the amount of damage or loss suffered in relation to legal disputes. Dolman Bateman has issued more than 3,000 forensic reports in the last decade and has worked with over 100 law firms. The reports are written in a straight forward fashion that is easily understood by all intended parties and readily usable for litigation purposes. Importantly, Dolman Bateman is highly focussed towards providing litigation support where required.