We adopt a strategic and cost-aware approach to forensic assignments, working with our clients in order to establish as efficiently as possible the relevant facts, analysing supporting financial information and advising on the likely economic implications. Where required, we provide independent expert testimony.
We have experience of most types of dispute process encompassing: litigation, mediation, arbitration, adjudication and expert determination. Our partners have undertaken fraud and financial investigations involving a variety of industry sectors, both locally and abroad.
Our principal service areas include:
- Expert Witness Work
- Business Valuation
- Matrimonial Services
- Fraud and Financial Investigation
- Forensic Insolvency
- Criminal and Regulatory
- Criminal Confiscation
Our work methodology involves the following key stages:
- Preliminary pre-litigation assessment: we work with you to explore the financial and accounting merits of the case, together with the likely size of the dispute. We provide constructive accounting expertise at the start of the claim in the context of strategic planning.
- Litigation support services: where required, we support the discovery process, preparing witness statements, which involve technical accounting and financial issues, and producing visual-aids for trial purposes. We provide commercial input in order to maximise the benefits of any early settlement negotiations.
- Expert witness: our experts are engaged on a day-to-day basis in providing written and oral expert witness services in a variety of legal arenas. We analyse accounting records and other financial evidence, leading to high quality expert reports and commentary on the evidence produced by opposing experts.
- Court hearing experience: our experts are experienced in providing oral testimony in both civil and criminal matters, in the UK and overseas.
We are a member of NIFA (Network of Independent Forensic Accountants), whose membership consists of independent accountancy practices throughout the UK who specialise in forensic accountancy, and are able to provide a cost effective alternative to the national firms of accountants. Membership of NIFA provides safeguards to instructing parties because it sets quality standards and monitors them by an annual review of each firm's working files. Click here for the latest NIFA newsletter.
An organisation may need to be valued for many reasons: the owner wishes to sell, a shareholder wishes to exit the business, there are tax reasons or for the purposes of shareholder dispute and matrimonial proceedings.
Criminal and Regulatory
As the business world becomes ever more sophisticated, the need to involve experienced forensic accountants, whether working for the prosecution or the defence, is increasingly important to ensure the smooth running of a case, with a view of achieving the correct outcome.
The Proceeds of Crime Act 2002 ("POCA") ensures that criminal conviction involving the proceeds of crime is quickly followed by an Application for Confiscation. The confiscation process requires the Prosecution to establish on the balance of probability the Benefit received by the Defendant from both specific criminal indictments and an assumed criminal lifestyle.
Expert Witness Services
For over 25 years, our forensic partners have been working with clients to develop their dispute resolution strategy and where required to provide Expert Witness Services. We combine our wide-range of commercial experience across diverse industry sectors in order to provide relevant expert advice on the financial, economic and valuation aspects of civil claims. Our approach is flexible, tailored to the specific circumstances of the claim and the dispute process, whether litigation, arbitration, mediation, expert determination or informal negotiation.
Insolvency is sometimes the inevitable outcome of the business process. Faced with an inability to meet financial obligations and/or an excess of liabilities over assets, hard decisions have to be reached in a timely manner, often based on limited information.
Fraud, Bribery & Financial Investigation Services
There are many reasons why you may be subject to a financial investigation. Navigating this complex and sometimes process can be tricky. At Dains, we have experience of numerous ad-hoc financial investigations and can apply our investigatory skills in a wide and varied set of circumstances. We can offer comfort and assurance over and above your normal accounting or audit procedures.
Any dispute, whether it is at a corporate or individual level, can become tainted with bitterness and vigorously fought, at times beyond commercial reasonableness but this is never more the case that with a proportion of matrimonial disputes. The emotional as well as financial impact of this type of case can be devastating to the parties such that a prompt and demonstrably fair resolution is invariably to be preferred for the good of the entire family unit.
Forensic Accounting Case Studies
Take a look at some of the case studies where our forensic accounting team have played a key role for clients.
Useful resources relating to Forensic Accounting.