Forensic Accounting

Forensic Accounting

In today’s changeable economic environment business disputes are becoming more frequent and litigation is on the increase. At Taylorcocks we draw on the firm wide expertise of our accounting professionals to advise our clients in claims assessment and provide independent expert accounting witness services.

How we can help

As expert accounting adviser working with our clients to pull together robust and persuasive claims, negotiating for settlement on our clients’ behalf through mediation or other negotiation processes.

As independent expert accounting witness where our experts will assess quantum and simplify the complexities of our clients’ claims to assist courts and tribunals.

By instructing us early, we can save our clients time and cost by identifying the key issues, sources of evidence to substantiate claims and make sure nothing is overlooked or incorrectly stated. Our forensic specialists seek to prepare robust quantifications to substantiate simple yet persuasive reports.

Not all disputes end up in a formal dispute resolution process and whilst we can provide expert evidence in those circumstances, we strongly believe in assisting our clients to obtain prior settlement, where possible, thus avoiding the costs of litigation and arbitration.

There are many reasons why businesses suffer losses, but it is in recovering those losses that disputes arise. It is not our job to assess culpability in these circumstances; we are here to make an assessment of the quantum of financial damages to enable our clients to move forward in agreeing settlement for their loss, whether it is through their insurer, third parties or the legal system.

Claim preparation

It can be difficult to know where to start. By getting us in early Taylorcocks can assist businesses to assess losses and prepare the financial aspects of their claim. Alternatively we can critically review existing claims for completeness, identifying any potential understatement and the financial disclosure needed to support and present the claim.

Quantification of losses

By combining the firm’s broad accounting knowledge of business sectors with detailed forensic analyses we can explore and test the link to causation and apply loss assessment methodologies to assess a complete and robust claim.

Negotiation and settlement

Not all claims result in formal proceedings and at Taylorcocks we understand that formal proceedings come at a cost. As an expert accounting adviser we can break down the complexities of our clients’ claims and negotiate on their behalf with clear and concise findings, whether it be in mediation or other form of negotiation process.

Independent expert witness

Where formal proceedings have commenced or are likely to commence our clients can be assured that we will prepare a complete, robust and persuasive report, acting as our client’s independent expert in litigation, arbitration or other form of dispute resolution.

The division of assets in divorce can be emotional and complex, particularly where the wealth is spread between both personal and business interests, each of which needs to be taken into consideration. At Taylorcocks we are experienced in helping our clients to complete their financial statement of affairs and advising them on the tax implications of divorce.

Our valuation and forensic specialists use their experience to value personal and company financial assets, as well as identify how assets may be realised to fund the divorce proceedings. Together with the taxation aspects of settlement, our tax specialists have a wealth of experience in advising on personal and corporate financial planning.

At Taylorcocks, our matrimonial specialists are experienced in acting as accounting expert to one of the parties or as single joint expert.

Shareholder and valuation disputes

A business or shareholder valuation affects more than just the entity being valued, and therefore more than one party needs to be satisfied. Unfortunately it is often the case that one (or more) of the parties feels the valuation is un-commercial, resulting in conflict. That is where Taylorcocks can help.

At Taylorcocks our experienced valuation and forensic specialists combine valuation methodologies with commercial judgement to advise our clients on the reasonableness of valuations and assist them to present their claim.

Where disputes cannot be settled we draw on our forensic accounting experience to unravel the complexities of business and shareholder arrangements to present a simple yet robust valuation for negotiation in dispute proceedings.

Valuations for tax disputes

The complexities of managing unquoted shareholdings often results in tax disputes, whether it be in relation to income tax, corporation tax, capital gains tax or inheritance tax. The resolution of these disputes commonly involves the valuation of unquoted shareholdings which in itself gives rise to a minefield of uncertainties, and that is where taylorcocks can help.

Combining the specialist fields of our chartered tax advisers and forensic accountants we can assist with:

  • march 1982 valuations
  • probate valuations
  • gifts of shareholdings between family members/into trust
  • issue of shares to employees
  • granting of options under approved share schemes
  • exercise of options under EMI schemes

Free no-obligation consultation

Whether you need independent, expertise advice for a personal or a business matter, contact us today and we will provide you with a free, no-obligation, initial consultation.