Services - Forensic Accounting QLD

Business Valuations

Forensic Accounting QLD is a leading provider of Business Valuation services.

Experts in business valuations, we are regularly engaged to value businesses, ranging from a family owned business to large corporate groups including the following:

Purchase or sale of a business, as part of the due diligence process
Assessment of the value of business Goodwill
Admission or retirement of a partner in a partnership
Business subject to a compulsory acquisition, as part of the resumption of land by a government or statutory authority
Family Law matters
Minority shareholder disputes
Shareholder or partnership disputes
Valuation of intellectual property
Critiquing another expert’s valuation report

Resumption of Land

Forensic Accounting QLD has proven expertise in resumption matters. We have been engaged by both the resuming authority and/or the claimant to asses and quantify the losses arising from resumption on multiple projects, including Clem 7 Tunnel, Cross River Rail and numerous other capital works projects undertaken across Queensland.

The Forensic accounting teams expertise is regularly called on to assist in the following areas:

Identification of the relevant issues
Assessing and quantifying any losses arising from the disruption
Quantifying any permanent loss on closure of the business, including the loss of goodwill
Quantifying the costs of re-location of the business
Business valuations
Identifying and quantifying other loss and damage arising from the resumption, including quantifying losses arising before the land is resumed
Assisting with a claim for compensation
Providing assistance to the parties at mediation
Providing expert evidence

Commercial Damages Assessments

Forensic Accounting QLD specialises in quantification of Commercial Damages.

Experts in quantifying commercial damages, we are regularly engaged to assist in the investigation, assessment and quantification of commercial matters, including:

Losses arising from a breach of the Competition and Consumer Act (formerly the Trade Practices Act)
Assessment of the loss and damage arising from a range of commercial disputes
Professional negligence
Future losses arising from a breach of contract or other form of agreement
Business interruption losses
Shareholder and partnership disputes
Assessment of losses arising from an invalid appointment of Receiver and Manager
Critique another experts report
Building and construction disputes
Preparation of Solvency Reports
Review state building authority decisions to classify a person as an “Excluded Individual” due to an “Event of Insolvency”

Fraud

Forensic Accounting QLD specialises in fraud investigation services.

As recognised experts in fraud investigation, we are regularly engaged to assist in the investigation, quantification and prosecution of fraud related matters.

With a Certified Fraud Examiner (CFE) on the team, together with our financial analysis and investigative expertise, we are regularly engaged to investigate a variety of fraud and related activities, including the preparation of reports and assisting the relevant authorities in prosecuting the suspects.

We have been involved in the investigation and quantification of a variety of frauds, including:

Analysis and reconstruction of financial records
Asset tracing and recovery
Misappropriation of funds
Identity fraud
Financial Statement Fraud
Falsification of financial records to obtain a financial benefit
Reconciliation of taxes & levies paid to the government of Liberia
Purchasing fraud of a large international diversified construction company
Theft of clients and contracts from an ASX listed company
Financial statement and government grant fraud in the not for profit sector
Investigation of numerous Ponzi schemes
Misappropriation of monies invested with an accountant
Review of the internal controls of a business to ascertain susceptibility to fraud
Investigations into unregistered mortgage investment scheme
Investigate the book keepers of various businesses

Preventative measures

At Forensic Accounting QLD we specialise in the provision of fraud risk assessments on a Business. We identify risk areas and recommend procedures to implement to minimise the identified risks, including:

Business Health Check
Limited review of financial data,
Identify possible anomalies,
Identify the areas of risk,
Develop a plan of internal controls to minimise risks, to protect the cash (lifeblood) of the business

Financial Investigations

Forensic Accounting QLD is a leading provider of financial investigation services

As a leading independent Forensic Accounting practice, we are regularly engaged to assist in a broad range of financial investigations, including the following:

Investigating and unravelling complex business structures and transactions
Investigate and identify assets not previously known to the parties, locally and overseas
Court appointed Supervisor over various entities
Due diligence investigations in respect to potential business acquisitions and sale
Working with industry experts in securing and imaging digital data and analysis and investigation of data collected
Financial Investigations into Body Corporate Management Services

Family Law

Forensic Accounting QLD is a leading provider of family law services.

We are regularly engaged in matters that are being processed through the court system, a mediation process and out of court negotiations/agreements/arbitration.

We are experts in assisting parties whether jointly or separately in a broad range of areas including;

Business valuations
Identification and quantification of the matrimonial pool
Investigations into alleged misappropriation of assets by the parties
Quantification of any Notional add back items to the matrimonial pool
Investigation and quantification of fraud related matters.
Investigate and unravelling of complex business structures
Critique and analyse other experts reports
Shadow Expert
Assessments of earnings for child support or spousal maintenance applications

Collaborative Law:

The parties to a relationship have decided to call it a day. They want to sort out the split of the matrimonial pool on an amicable basis and not end up in Court, which would significantly reduce the matrimonial pool.
Whilst, there is nothing new about this approach and the concept of parties sorting out the divorce outside the Courts, has been around for many years, it has more recently been affectionately referred to as a “Collaborative approach”.

As experts in Family Law, Forensic Accounting QLD is increasingly being engaged directly by the parties to assist either one of or both parties in the following areas;

Providing an indicative valuation of the business, often on based on limited financial information, to allow the party or parties to make an informed decision,
Assisting in quantifying the matrimonial pool,
Providing professional support to the counsellors and other professionals engaged in collaborative process.

Insolvency Consulting

Forensic Accounting QLD is a leading provider of Insolvency Consulting Services.

With a qualified Insolvency Practitioner (RITP) on the team, Forensic Accounting QLD is regularly engaged to assist the insolvency profession and other parties in a broad range of areas.

Our expertise is often called upon to review, investigate and provide an expert opinion in the following areas:

Analysis and reconstruction of financial records
Asset tracing and recovery
Investigation and quantification of the sale or disposal of assets for an uncommercial value
Misappropriation of funds
Financial Statement Fraud
Unravelling complex financial transactions
Business Valuations
Solvency reports
Quantification of loss arising from an invalid appointment of an insolvency practitioner
Appointment as an independent supervising accountant over entities subject to investigation by regulatory authorities.
Budgets and cash flow forecasts
Financial investigations and provision of expert reports
Litigation support, including the provision of expert evidence

Litigation Support

Forensic Accounting QLD is a leading provider of Litigation Support Services.

As experts in Forensic Accounting, including a proven track record in expert evidence, we are regularly engaged to provide litigation support, including the following:

Interviewing relevant parties
Reviewing and critiquing other experts’ reports
Acting as a shadow expert
Assistance with settlement negotiations
Reviewing and analysing documentation
Assisting with the identification of missing documentation, and further documentation required in a matter
Assisting Counsel formulate questions for cross examination of other experts
Appointment as a jointly appointed single expert
Provision of assistance at mediation conferences
Joint expert conferences
Court attendance for evidence in Chief and cross examination

We have prepared expert reports, assisted in mediation and compulsory conferences and appeared as an expert witness for both the plaintiff and the defendant in a range of jurisdictions, including:

Federal Court of Australia
Federal Circuit Court
Federal Magistrates Court
Supreme Court of Queensland
Supreme Court of Tasmania
Family Court
Magistrates Court of Queensland
Magistrates Court of Tasmania
QCAT

Personal Injury

Forensic Accounting QLD is a leading provider of Personal Injury Services.

Experts in assisting in Personal Injury matters, Forensic Accounting is regularly engaged to assist the parties in a broad range of areas, including:

Identification of the heads of loss and damage that apply and assistance with claim preparation
Provision of multiple loss calculation scenarios
Identification and quantification of past and future economic loss
Calculation of the interest on past economic loss
Quantification of residual earning capacity
Quantification of lost superannuation benefits on past and future lost wages
Quantification of past gratuitous care and future care
Quantification of past and future medical expenses and aids
Quantification of past out of pocket expenses
Quantification of any future medical treatment
Calculation of the loss of dependency
Identification of relevant industry benchmarks & statistical data
Investigation into business trends and identification of alternative reasons for the losses incurred
Preparation of expert reports
Litigation support , including attending mediation and settlement conferences to assist the parties in the matter
Critique other accountants reports
Conduct financial investigations
Provision of assistance for mediation or preparation for trial
Provision of expert evidence

The economic loss that results from an injury can have a significant and often permanent financial impact on an individual and their family.

Therefore, it is imperative that you engage the services of a Forensic Accountant who understands the financial complexities involved in assessing and quantifying the economic loss involved.

A Forensic Accountant who will testify in court. Forensic Accounting Qld can assist you in these matters.

Some personal injury scenarios are not straight forward:

In our experience, we are often instructed to assist in matters that whilst on the surface appear straightforward, further investigation and analysis shows otherwise. Some examples are as follows:

Career Progression Scenario

A plaintiff’s career progression can be limited by the accident:

– Employees with a graded increases in salary linked to years of experience, e.g. nurses and police officers
– Apprentices will become qualified trade persons, either as an employee or self-employed.
– Professionals can look forward to significant and rapid salary package increases during their professional lifespan

Salary Packaging Scenario

Salary packaging to significantly reduce the taxable position of the employee, e.g. the mining industry artificially distorting the actual financial position of the plaintiff as reported on the employee’s payslips and group certificates.

Business Structures Scenario

The use by the Plaintiff of a tax effective structure, i.e. a company, trust or partnership may artificially distort the actual economic loss suffered by the plaintiff.

Lost Opportunity Scenario

Whilst, not common, there are occasions where there has been a loss of opportunity arising from the accident, e.g. a builder building his own house and having to engage external tradespersons to complete the house after the accident.

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Paul Betros

Partner - HopgoodGanim Lawyers