Why Instructing Financial Forensic Professionals is Essential
Cases requiring financial forensics and fraud investigations can often be large and complex, with a series of extremely well-hidden transactions that need a fine tooth-comb to detect. Forensic accountants possess all the expertise to conduct far-reaching and complicated investigations to uncover the fraud, identify who is responsible, and quantify damages. They will do this with the aim of securing the best possible result for their client.
During the course of a fraud investigation, it will be a forensic accountant’s responsibility to build a case that is strong and compelling enough to stand up in court. It will also need to survive against what will undoubtedly be robust cross-examination. A specialist forensic accounting service will be adept at carrying out investigative operations, computer assisted auditing, conducting interviews, reviewing documentation and much more besides.
The sheer level of attention-to-detail that is needed to bring the matter to a satisfactory conclusion is often too much for a prosecution or defence legal team to cope with alone. The input of a specialist forensic accountant is therefore essential.
As well as investigating whether financial fraud has indeed taken place, forensic accounting will be utilised to identify those responsible, identify motives, and uncover exactly how much money has been lost to fraudulent activities. The findings will then be collated in an in-depth report that is presented to the client.
It is in the quantifying of damages where forensic accounting can really assist. Since legal cases involving financial fraud can be notoriously lengthy and complicated, many solicitors will look to forensic accountants to use their expertise in finance and accounting, combined with their investigative ability, to quantify or challenge the amount of a claim. Many legal professionals simply do not have the time or necessary expertise to build or challenge a case and so rely on forensic accountants to assist. Forensic accountants can also act as an expert witness, and those with the relevant experience may also present evidence in court as such.
Financial Forensic Investigation Techniques and Procedures
Financial forensics and fraud investigations are carried out using a multi-faceted approach. This ranges from reviewing documents and carrying out interviews and surveillance operations, to the production of detailed reports and providing valuable assistance in court by appearing as an expert witness.
A forensic accountant can be instrumental in identifying the perpetrators of fraud, discovering their motives, and ensuring they are brought to justice. They can also be a powerful tool for defence lawyers to argue their clients’ case and disprove any allegations of wrongdoing.
Types of Financial Crime Investigation Services Offered
Given the diverse nature of fraud, there are many types of financial crime investigation services that a forensic accountant will provide, including:
- Asset tracing and recovery
- Corruption and bribery investigations
- Contentious insolvency investigations
- Rapid response fraud investigations
- Quantification of losses
- Carrying out background checks
No matter the circumstances, you can rely on a forensic accountant to assist.
Types of Financial Frauds
From embezzlement to the false declaration of profits, there are many types of financial fraud that a forensic accountant can deal with. Each challenge will be met with the same high level of detail and skill, while a specialist provider will also be able to effortlessly alter their working practices to offer a tailor-made service to their client.
The main types of financial fraud are as follows:
Free eBook: The Complete Guide to Forensic Accounting
Whether you’re in the middle of a divorce, are having a disagreement with a fellow shareholder, you’re accused of/have been victim to financial crime, or are the subject of a POCA order, there is a huge variety of ways a forensic accountant can assist and support you through any situation, no matter how complicated.
Whatever your situation, our free guide to forensic accounting is designed to help you to better understand the work done by our team of experts. We cover how the process works, when a forensic accountant’s skill set can help you, their specific areas of expertise, and much more.
How Inquesta’s Financial Crime Investigation Department Can Help
Inquesta has amassed a team that boasts decades of experience in providing specialist forensic accountancy services in a wide range of scenarios.
Our team has access to all the latest training and technology to provide a comprehensive and efficient service that digs beneath the surface of each case to get results.
We understand that no two cases are ever the same, which is why we undertake a thorough investigation upon being instructed onto any case to uncover details that could have been previously overlooked. In addition, we will conduct an initial consultation that outlines our expert opinion on the merits of the case, and highlight any information that we believe will be crucial to its success.
Our investigations complete, we will then outline our findings in an in-depth report that is in plain English, so it can easily be understood by judges and juries alike. We are also adept at acting as an expert witness in court and providing evidence under cross-examination. All of this is designed to achieve the best possible results for our clients.
Get In Touch
Our Specialist Team
We have amassed a dedicated team of experts that are adept at dealing with a wide range of financial forensics and fraud investigations.
Rob Miller
Director of Forensic Accounting
A co-founder of Inquesta, Rob Miller is a chartered accountant, a member of the Institute of Chartered Accountants in England and Wales (ICAEW), and a Practising Member of The Academy of Experts.
With decades of experience in providing specialist forensic accounting services, Rob has been instructed to assist with numerous cases — such as financial investigations, criminal defence and confiscation proceedings, commercial and contractual disputes, valuation matters, and much more besides. He has acted on behalf of claimants, defendants, and as a single joint expert.
Noreen Iqbal
Forensics Director
An ACCA-qualified accountant with over a decade of experience acting as a Senior Forensic Accountant within accounts and audit-focused roles. She is vastly experienced in forensic, external and internal auditing, and accounts, having worked at a senior level on a number of high-profile cases across multiple jurisdictions. Her work includes aspects of fraud, money laundering, tracing of funds exercise, and reviewing financial statements.
“Rob Miller is my first choice for forensic accountancy on criminal cases. He has an impressive eye for detail and adopts a ‘user-friendly’ approach to interaction with our clients and other professionals which ensures the smooth running of any task we instruct him to undertake.”
FAQs
Latest Articles
Defending Against Criminal Lifestyle (POCA) Allegations
Are you working with a client accused of leading a criminal lifestyle? Such accusations can be grave, and they can seriously jeopardise a person's reputation, assets, and even their way of life. In this blog [...]
Identifying Hidden Assets (POCA)
Have you ever wondered how authorities track down and identify hidden assets in the POCA process? These assets, obtained via criminal activities and hidden, in some cases, all over the globe, must be located if [...]
What Happens if You Can’t Pay POCA Confiscation Orders?
What happens if you can’t pay POCA confiscation orders? If you don’t know the answer to this question, and ever find yourself in this position, you could leave yourself open to serious trouble that could [...]