Larger claims and disputes often need the appointment of independent forensic accountants – particularly if litigation proceeds. You will however wish to ensure that the work undertaken is correctly scoped and relates to salient aspects only. You will also require a meaningful, understandable work product that marries in with any adjusting, legal or investigation report.
Understanding quantum is not a declared skill by the legal fraternity but having early knowledge on the financial implications of any particular strategy or circumstance empowers your lawyers and can help direct their efforts to the potentially more costly areas of dispute.
Accountants are on home territory with analysis but may be uncomfortable with any negotiation process. Can a joined up adjusting and forensic accounting service provide the answer?
With the smaller issues, which have complex aspects, a forensic examination is often beneficial. However can the cost be justified?
At Adjusting Solutions we have considerable forensic services experience, including working with the “Big 4” accountants on insurance claims, commercial disputes, financial investigations and insolvency. We also have qualified accountants on staff.
Our preferred modus operandi is to work together with accountants (our own or independent), scoping out their work and providing direction and limits so that all analysis is relevant and incisive. Where reporting is required one single, joined up report on investigations, quantum and strategy is provided. Thereafter it is possible to enter negotiations (or indeed repudiate) in the full knowledge and understanding of both “facts” and “figures”.
Using our in-house expertise is often a solution to the cost issue on smaller complex claims.
The benefits to you are:
- Adjusters and forensic accountant working together
- No duplication of effort or enquiry
- A directed and focussed analysis – limited to salient aspects
- An early understanding of financial costs per head of claim that empowers lawyers and directs their efforts to the more costly areas of dispute
- Combined, seamless and meaningful reporting
- Negotiations from a position of strength with full understanding of both “facts” and “figures”
- A more economic solution for those smaller complex claims where costs can be an issue
