Forensic FAQs

Forensic accountants investigate and report on the financial aspects of legal cases, which may ultimately result in them giving evidence in Court as Expert Witnesses.

The highly skilled forensic accountants at Pierce have extensive experience in carrying out forensic accounting audits and investigations.

Below are some of the frequently asked questions to help you determine if you require a forensic accountant.

 

What is a forensic accountant?

A forensic accountant is the Sherlock Holmes of the accounting world, neutral, unbiased, and concerned only with arriving at the truth of the matter for any financial transaction.

When would I need a forensic accountant?

Forensic accountants investigate financial matters in response to past events, for example, disputes or allegations of wrongdoing, determining loss of earnings claims, or undertaking valuations in divorce cases.

Do I need to hire my own forensic accountant?

Typically, solicitors employ forensic accountants to work on their client’s behalf during legal cases. However, at Pierce, our dedicated team is approachable and happy to answer any initial queries you may have.

How can a forensic accountant help with my issue?

Forensic accountants are experts at analysing complex financial issues and explaining the calculations, results, and facts of their investigation in a way that anyone can understand.

Are forensic accountants different from auditors?

Auditors typically work to ensure that transactions are compliant with financial reporting standards and aim to ensure that financial statements are free from material misstatement. A forensic accountant on the other hand is able to carefully tailor their investigation dependent on the case at hand.

Will a forensic accountant be able to provide evidence for me in court?

Yes, forensic accountants can act as “expert witnesses” and are able to attend court to provide evidence in all sorts of financial proceedings.

Are forensic accountants only hired to assist in litigation services?

No, forensic accountants can be employed to perform specific investigation services as a smaller one-off engagement, which can often be undertaken prior to litigation commencing.

How are fees calculated for forensic accountancy services?

Engagements requiring a forensic accountant may be at an agreed fee prior to the engagement or based on time costs depending on the complexity of the case.

I have an issue but I am not sure whether I need a forensic accountant, what should I do?

Feel free to contact us to review your issue, we can do this in total confidence and without financial obligation. We can provide feedback and an estimate of the costs that would be involved if we assisted with your issue.