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PERSONAL INJURY CLAIMS

Losses caused by personal injury can often be difficult to quantify. This is where Inquesta’s personal injury claims service can help.

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Why Use a Forensic Accountant For Personal Injury

The calculation of damages for personal injury claims will revolve around estimated loss of earnings and/or pension. It is up to the claimant to quantify their loss if they want to be returned to the same financial position before the incident occurred. A forensic accountant will analyse the ins and outs of a case and provide an expert opinion. 

Specialist forensic accountants can act as an expert witness, with a view to giving evidence in court. Their aim will be to assess the true value of the loss suffered. When assessing a personal injury claim, there are a few things that a forensic accountant will analyse. These include whether the injury suffered will impact the amount of money the claimant is likely to receive in their pension, if any time away from work as a result of the injury will impact their chances of promotion and/or salary increases, and if the claimant will miss out on any performance-based benefits they would have achieved if the incident had not taken place. 

To go into this level of detail takes time, effort, and skill. A forensic accountant is adept at dealing with complicated and far-reaching investigations and achieving the best possible result for their client.

Forensic accounting can also be extremely important if the personal injury suffered is particularly severe. Should the event be likely to, or has already caused, a lifelong impact on the claimant and their family, a forensic accountant will be essential to ensuring all avenues are explored and all necessary calculations are made. Examples of additional costs include care costs, changes to housing, and loss of potential earnings.

If the incident resulted in a fatality, the deceased’s family would also need to be taken into account. Estimates will need to be made on the deceased’s expected earnings (taking into account future wage increases and promotions), as well as the impact on the family due to a lack of pension.

Who Can Hire a Forensic Accountant

When it comes to personal injury claims, a specialist forensic accountant can be instructed by either a claimant’s or defendant’s solicitors, either on a single or joint basis. They will be called upon to act as an expert witness and quantify any damages that may have occurred as a result of the incident. 

A forensic accountant will be experienced in handling personal injury claims from a wide range of scenarios, such as road traffic accidents, incidents at work, and professional and clinical negligence. To assist their client, they will carry out an in-depth investigation into the incident, produce a thorough report, and be on hand to appear during litigation under cross-examination. 

Due to the level of skill possessed by a forensic accountant, they will usually be instrumental in securing a positive result for their client.

Types of Personal Injury Claims

Forensic accountants will act on a wide variety of personal injury claims, including:

  • Loss of earnings
  • Loss of profit
  • Loss of pension rights
  • Loss of dependency 

When assessing the validity of personal injury claims and quantifying losses, a forensic accountant must also take into account any costs that were saved as a result of the incident. While this may not be particularly pleasant to think about, it is important to factor these into any calculations to obtain a true valuation.

Examples of these costs include transportation or commuting expenses, professional license fees (unless these have already been reimbursed), and income tax charges.

Need Our Assistance?

If you are looking for an expert opinion on personal injury claims, contact our specialist forensic accountants today.

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The Forensic Accounting Process for Personal Injury

When assessing and quantifying personal injury claims, there are a number of important steps that a forensic accountant will take. These range from an initial review of available documentation, to carrying out an in-depth investigation into the incident and its impact. The process involved may vary depending on if they are acting on behalf of the claimant or defendant. 

The process will generally be as follows:

How Inquesta Can Act as a Personal Injury Expert Witness

Inquesta has decades of experience in acting as a personal injury expert witness, either as a representative of the claimant or defendant. We are completely comfortable on a single or joint basis to assess the value of the loss sustained by the claimant in order to put them back in the same position they were before the incident occurred. 

Once instructed on personal injury claims, we will carry out an in-depth review of any initial documentation, and issue a letter of advice that sets out our thoughts on the value of any losses incurred and any further information we require. Subject to the requested information being provided, our next step is to provide the instructing solicitor with a fixed-fee quote to provide an expert report that quantifies the claimant’s losses.

The Inquesta team prides itself on providing an independent and impartial viewpoint. As well as having a duty to the Court, we believe this is the best way to achieve a successful outcome for our client.

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Our Specialist Team

Our team of dedicated forensic accountants have amassed years of experience in providing expert support for personal injury claims.

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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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FAQs

No, a forensic accountant will only act as an expert witness with a view to giving evidence in court. They will not act as a claims management company, nor manage a personal injury claim.

When calculating and quantifying damages relating to personal injury cases, there is a lot more than may initially meet the eye. With so many figures to take into account, only a specialist will have the in-depth level of knowledge and skill needed to obtain the best possible result for a client.

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