In court or arbitrations, a forensic accountant can be appointed as an expert witness. They are appointed to provide an independent expert opinion on matters within their expertise to assist the Court or arbitration. This may be for one of the parties as a “party appointed expert”, or for all the parties together as a “single joint expert”. Critically an independent expert witness’ duties are to the Court and not to any one party or those instructing them.
What forensic accountants give evidence on
Forensic accountants are typically asked to provide opinions on matters of accounting or financial reporting, fraud or financial irregularities, on lost profits from breaches of contract or tort, or on issues around valuation of assets and businesses.
