We are not just a consultancy; we are your dedicated allies in achieving financial clarity. Leveraging our expertise in accounting and taxation, along with strategic collaborations with specialists like lawyers, bankers, and industry experts, we provide legally sound and accurate information. Our mission is to empower your success and help you reach your financial goals.
What is Forensic Accounting?
Forensic accounting is a specialised field involving financial expertise and investigative techniques to analyse financial information, uncover evidence, and provide valuable insights in legal disputes as well as in various financial, investigative, and advisory contexts.
Forensic accountants are often engaged by organisations and government agencies to conduct investigations of financial crimes, including fraud, embezzlement, and money laundering.
In our practice, we provide forensic accounting services to assist clients with civil disputes such as contract disputes, shareholder disputes, matrimonial disputes, and bankruptcy.
We use various techniques to investigate financial irregularities and provide evidence for legal proceedings. These techniques may include:
- analysing financial statements,
- tracking financial transactions,
- conducting interviews with relevant stakeholders, and
- preparing reports summarising findings.
Forensic accounting requires a deep understanding of accounting principles, as well as knowledge of legal requirements and regulatory frameworks. We work closely with other professionals in the legal system to produce and deliver insights into the financial matters of our clients and help them achieve better outcomes from their legal disputes and proceedings.
Marital Disputes and Forensic Accounting:
The Path to an Equitable Settlement
Forensic accounting can play an essential role in matrimonial asset separation cases by helping to identify and value assets that are subject to division between spouses. When couples separate, they must divide their assets and liabilities, which can be complex when significant assets are involved, such as business interests, real estate, investments, and retirement accounts.
When matrimonial disputes arise, we assist clients in the following ways:
Tracing and valuing assets
We trace assets and determine their value, including any appreciation or depreciation that may have occurred during the marriage. We can also identify any hidden assets or transfers of assets that may have occurred before or during the divorce process.
Assessing income and cash flow
We analyse income and cash flow to determine the true financial position of each spouse, including any income from investments, business interests, or rental properties.
Investigating financial fraud
In cases where one spouse suspects the other of hiding assets or income, we can investigate and uncover any fraudulent activity.
Preparing net worth statements
In matrimonial disputes, net worth statements can help determine the equitable distribution of marital assets between the divorcing spouses. By providing a comprehensive overview of each spouse’s financial position, including their assets, liabilities, and net worth, net worth statements can help to ensure that asset distribution is fair and equitable.
Forensic accounting can provide a valuable and objective perspective in matrimonial asset separation cases, helping to ensure that both spouses receive a fair and equitable distribution of their assets.
The Role of Net Worth Statements in Resolving Financial Disputes in Divorce
A net worth statement is a financial document summarising an individual’s assets, liabilities, and net worth. The purpose of a net worth statement is to provide a snapshot of an individual’s financial position at a given point in time.
An asset is anything of value that an individual owns, including cash, investments, real estate, personal property, and retirement accounts. Liabilities are debts and other financial obligations that an individual owes, such as mortgages, car loans, credit card balances, and taxes owed. Net worth is the difference between an individual’s assets and liabilities, and it represents the true value of an individual’s wealth.
Net worth statements can be used for various purposes, including financial planning, obtaining loans or credit, divorce proceedings, estate planning, and other legal matters.
When preparing for a divorce, both parties are required to disclose all of their assets and liabilities, which are then used to determine the value of the marital estate. This includes both marital and non-marital assets, which are subject to different rules depending on the jurisdiction.
The net worth statement is one of the tools that can be used to provide an overview of each spouse’s financial position. It is a useful document to help identify assets that may have been hidden, transferred or otherwise not disclosed by either spouse.
In cases where our clients suspect their spouses of hiding assets, we conduct forensic accounting to investigate and analyse net worth statements in order to identify any discrepancies or inconsistencies.
To prepare a net worth statement, an individual lists all of their assets and their corresponding values, as well as all of their liabilities and outstanding balances. The difference between the total value of assets and the total value of liabilities is the individual’s net worth.
Ultimately, net worth statements can be crucial in helping legal representatives produce accurate recommendations and judgments on the division of marital assets, spousal and child support, and other financial matters in matrimonial disputes.
If you’re facing a marital dispute and need assistance obtaining your accurate net worth statement, don’t hesitate to contact our firm. Our team of experienced forensic accountants has the expertise to help you uncover hidden assets and liabilities, and provide you with a clear picture of your financial situation. We understand that divorce can be a difficult and emotional time, and we strive to provide our clients with the support and guidance they need to make informed decisions. Our team has a proven track record of success in resolving complex financial disputes, and we are committed to helping our clients achieve the best possible outcomes.
Get the Most Accurate Net Worth Assessment with Our Help
If you find yourself in the midst of a marital dispute and require expert assistance in obtaining an accurate net worth statement, please reach out to our firm. We are here to provide you with professional support and clarity on your financial situation.
Business Valuation Services
Business valuation is the process of determining the economic value of a business, company, or enterprise. It is a complex process involving the analysis of various financial, operational, and market factors to arrive at an estimated value. The purpose of a business valuation can vary depending on the situation, but it is often used in the following scenarios:
Buying or selling a business
Business owners may need to know the value of their enterprise when selling it to potential buyers. They may also need to know the value of a business when considering purchasing it or entering into a partnership agreement.
Mergers and acquisitions
Companies may need to know the value of another business to determine whether a merger or acquisition is financially viable.
Litigation
Business valuation may be used in legal proceedings such as shareholder disputes, divorce proceedings or other business-related litigation.
Taxation
Business valuation may also be used to determine the fair market value of a business for tax purposes.
There are several approaches to business valuation, including the income approach, the market approach, and the asset-based approach.
The income approach involves analysing a business’s expected future income or cash flow and discounting it to arrive at a present value. The market approach involves comparing the business to similar enterprises that have been sold recently to arrive at an estimated value. Finally, the asset-based approach involves calculating the value of a business based on its tangible and intangible assets, less its liabilities.
Ultimately, business valuation is a critical process that helps business owners and other stakeholders make informed decisions about the value of their enterprise.
Accountants play a significant role in business valuation by providing the financial expertise and analysis necessary to determine the value of a business. Here are some ways in which we can contribute to the process:
1
Financial analysis
We are proficient in analysing financial statements, a key component of business valuation. We can review your company’s financial records to identify trends, assess the quality of earnings, and evaluate your business’s cash flow.
2
Due diligence
We perform due diligence procedures to ensure that all financial information is accurate and complete. This includes verifying your company’s financial statements, examining tax records, and reviewing contracts and other legal documents.
3
Valuation methods
We determine and advise on the appropriate valuation method for your particular circumstances. By assessing your business’s assets, liabilities, and financial performance, we can determine which approach will provide the most accurate and reliable estimate of your enterprise value.
4
Forensic accounting
In some cases, we are required to investigate potential financial irregularities that could impact the value of your purchase or sale.
5
Documentation
We can prepare and provide documents for legal proceedings related to business valuation, including disputes between shareholders or in cases involving mergers and acquisitions.
Overall, our forensic accounting services bring valuable financial expertise to the business valuation process, helping to ensure that the estimated value of a business is accurate, reliable, and based on sound financial analysis.
Accurate Business Valuation for Informed Decisions
Our team of highly skilled financial professionals has the experience and expertise necessary to analyse complex financial data and provide accurate and reliable valuations.
In addition to our own expertise, we outsource parts of the job to appropriate specialists, such as lawyers, bankers, and industry experts, to ensure we deliver legally sound and accurate information that leads
to the most optimal outcomes for our clients.
We have successfully helped clients across a wide range of industries with their business valuation needs, providing accurate financial data to support informed decision-making. With our commitment to client success and our acute
focus on achieving our clients’ objectives, we are confident that we can help you make informed decisions about your business.
Contact us today to learn more about how our forensic accounting and business valuation services can benefit you.
