In simple terms, the traditional Forensic Accountant receives data for analysis and review and then provides a structured report of their findings which may be used for evidence in litigation and divorce proceedings. This is a valuable and much used resource to assist a court in understanding often complex accounting and taxation issues which are explained by the forensic accountant acting as an independent expert witness.
Whilst that is a clearly defined role in many legal proceedings, there is often a need to find and process additional data. Often this lack of data is due to one party not providing full disclosure or the information received is not completely clear, and further investigations will be needed. The traditional Forensic Accountant will normally be precluded from doing this work because of legal, regulatory or ethical constraints.
Hayes Forensics is able to offer this additional service as a segregated business, so clients can choose the scope of our work from the outset depending on the nature and extent of the issues concerned. This obviates the need separately to instruct different advisors for the same case, and improves management of costs in one place.
Of further note, most financial investigations, and associated data gathering and analysis, do not generally take account of taxation matters that will arise both in the course of proceedings and, more interestingly, during the investigation phase. We are able to identify how taxation may impact upon any potential settlement and potentially generate opportunities to utilise the information gathered during the investigation to expand the scope of discovery and disclosure.
The taxation issues we uncover form part of our standard procedures which are tailored specifically to the wider requirements in the litigation and divorce field. Not least the fact that tax evasion is often a predicate money laundering crime and may expose other aspects of the case for further scrutiny.
There are many layers of investigation within the tax field and we are experts in maximising the openings. We actively remain up to date on all tax matters especially the current developments in the more complex areas of crypto, De-Fi, regulatory compliance and the evolving OECD tax proposals covering digital services, tax avoidance and shell companies.
We bring to our clients the full range of financial analysis tools in all situations, and maintain up to date training and qualifications for all people engaged on projects. In undertaking any review we will always agree the full scope of what is required up-front to ensure the correct approach is taken, and the right level of expertise is deployed. We work hand in hand alongside our clients throughout the whole process, providing regular updates to show progress and any new opportunities which may develop.
Of particular significance, is our analogue based statistical evaluation which we use when interrogating large amounts of data for further detailed inspection. The key to our approach is based upon the human element of intuitive enquiry prompted by properly programmed machine learning algorithmic techniques. We prefer the approach of obtaining more relevant evidence for less time and costs, commensurate with the scale of each case. It is having this key balance between human and machine interaction which will drive the results needed, and we will discuss the need for, and specific scope of, this technique before commencing.
To find out how our services can help you contact us today.