The Role of Forensic Accountants in Investigating Loss and Damages in Civil Cases.
"IT IS NOT THE FORENSIC ACCOUNTANT'S ROLE TO DETERMINE WHETHER THE OPPOSING PARTY IS GUILTY OF INNOCENT. INTSEaD THEIR ROLE IS TO INVESTIGATE THE QUALIFICATION OF LOSS AND DAMAGES TO BE PAID BY THEIR CLIENT". I agree with the statement. Forensic accountants are not responsible for determining the guilt or innocence of the opposing party. Instead, their role is to investigate and provide qualification of loss and damages to be paid to their client. In civil cases, forensic accountants are expected to provide unbiased financial analysis and expert opinions to aid the court in making informed decisions. Two expert opinion matters that a forensic accountant may be required to calculate in a civil case are: 1. Business Valuation: In a civil case where the value of a business is disputed, the valuation process of this involves analysing financial statements, market trends, and other relevant factors to determine the fair market value of the business. This calculation is crit...
