In some form or another, disputes may arise or have arisen between parties which require forensic accounting services. These services can range from the early stages providing assistance with the examination and assessment of what happened, how it happened and perhaps exploring the motivations behind such individuals relevant to the dispute. Each case is different, but is likely to include the review of financial data (including financial statements, underlying books and records and agreements) to form the basis of expert assistance and/or evidence on potential damages due in breach of contract or warranty cases or potential losses from tortious actions.
Case Study- Commercial Disputes
After very disappointing results of a recent acquisition, a Private Equity house launched an investigation into the activities of an acquired group pre-acquisition, its management and the financial information that it produced. This engagement required a number of specific reviews to be undertaken on discrete matters including such areas as: accounting for particular types of transactions; assessment as to whether the accounting policies were in line with applicable accounting standards; an analysis of the budgets and forecasts produced and how those figures differed from the actual results; an analysis of banking covenants and factors affecting those calculations; preparation of detailed disclosure requests; a review of email evidence for further information surrounding management's decision to adopt a particular treatment of a transaction, group of transactions or events.
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