Forensic Accountants Melbourne – How Kingston & Knight can assist
Kingston & Knight are well-versed in a number of different financial and legal skills. It is our ability to see connections between legal and financial systems that sets us apart from your typical accountants. In fact, our forensic accountants normally require at least three years experience in accounting before they can be accepted into the field. Thus, a high level of financial and legal proficiency is inherent to the position – a sort of guarantee to our clients that we are a reliable expert in the field.
Kingston & Knights forensic accountants can be of assistance to a varying and broad spectrum of clientele. Our skills in investigation, litigation, and financial interpretation is often sought by attorneys for litigation support, companies or individuals for looking into dubious financial transactions, or even government organizations for the detection of financial criminal activity.
Investigate, Report, Support
Whilst the approach to forensic accounting varies on a case-by-case basis, it is often helpful to consider the forensic accountants approach as composed of three primary steps: investigate, report, support.
Clients that retain forensic accountants retain them for an entire process. The process, in its simplest form, involves investigating financial information relevant to the client’s case, interpreting this information into an easily understandable report for their client, and then supporting their client in their dispute by advising on legal approaches relevant to the financial issue.
It is important to note, however, that whilst this is a typical approach to forensic accounting (and a helpful way of thinking about the field), the role is not strictly confined to this linearity – rather it adjusts according to the individual needs of each client. For example, forensic accountants may be retained for the purposes of providing testimony to the court as an expert witness, in this case their skills of reporting significant information that they have interpreted takes precedence.
A Comprehensive Approach
When considering whether to retain the services of a Kingston & Knight forensic accountant, the greatest compelling factor to bear in mind is our ability to provide clients with “the big picture”. Kingston & Knight are known across Melbourne to be the experts in both finance and its application to litigation. Much has been said about the fact that whilst a lawyer may advise on law, and an accountant on finance, often neither have the proficiency that the forensic accountant does to translate one into another. This is not only significant for the overall approach to financial dispute resolution or financial investigation, but also for client experience.
A Scenario – Consider, for instance, that an individual is seeking to bring their ex-spouse to civil court based on the suspicion of hidden assets in their divorce. Now consider that this individual retains a typical accountant and an attorney. The attorney, accountant, and individual discuss their approach to the pending dispute. The attorney suggests a legal route and explains the significance to the accountant, the accountant contributes with their own advice for a financial route and explains this to the attorney, and the individual contributes their own desired outcome. The meeting that follows is one in which each contributor explains and elaborates upon their viewpoint, attempting to tie it into the others’ by opening and closing multiple ports of communication.
By retaining a Kingston & Knight forensic accountant instead, we are able to have the desired outcome interpreted into clear and cohesive advice that combines relevant notions of litigation and finance. The process is much more resourceful and time-efficient by cutting straight to the essential matters and excluding the unnecessary clutter of clarifications.