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FINANCIAL FORENSICS AND FRAUD INVESTIGATIONS

With fraud costing UK businesses and individuals over £100 billion each year, it is essential that expert assistance is sought to ensure that the right people are brought to justice. This is where Inquesta can help.

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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.

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If you require expert guidance with financial forensics or fraud investigations, contact our specialist team today.

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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:

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.

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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.

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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.

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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.

FAQs

When a forensic accountant is instructed to assist in a fraud investigation, they will use a myriad of different techniques and practices to secure a positive outcome for their client. These include carrying out an in-depth investigation into the numbers and background of a company or individual, producing a thorough report, and acting as an expert witness in court.

A specialist fraud investigator, such as a forensic accountant, will typically look for abnormalities in a company that could point to unscrupulous activity. This can range from unusual transactions to financial statements projecting a much rosier picture than what is actually occurring.

A forensic accountant is capable of dealing with all manners of financial crime and fraud. If you are faced with suspected money laundering it is essential that you contact a forensic accountant as soon as you can. They will be able to analyse all the evidence and assist you throughout the process.

A financial fraud forensic investigation will involve the collation of several different types of evidence that is designed to build a conclusive case for or against a claim. It culminates in an in-depth report that will quantify or disprove damages and sometimes apportion blame and motive.

Also in Forensic Accounting

Commercial Dispute Resolution

Divorce & Matrimonial Disputes

Financial Crime

Financial Loss & Business Interruption

Forensic Insolvency

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