Matrimonial cases drive 21% rise in forensic accountants’ workload
There was a 21% rise in cases handled by forensic accountants last year, according to figures from the Network of Independent Forensic Accountants (NIFA), which show demand rising in cases of professional negligence and shareholder dispute, while matrimonial cases account for the highest volume of work, followed by fraud
17 May 2017
NIFA’s analysis shows all areas saw an increase in the number of instructions with the exception of personal injury cases, which follows a long term decline reflecting the courts’ reluctance to allow the use of accounting experts in this area.
According to the research, the advisory cases taken on by NIFA members are evenly split between claimants and defendant. In proportion to the total number of expert witness engagements NIFA members undertake, the number of single joint expert (SJE) appointments has also increased, with matrimonial cases dominating this area. Expert determination work is also on the rise, which the group says might be the result of an increase in corporate activity as the economy begins to recover.
Roger Isaacs, NIFA national technical director and partner and head of forensic accounting at Milsted Langdon, said: ‘It is clear to see that more and more people and their professional advisers are turning to forensic accountants for our unique skill set and our ability to provide strong factual evidence for their cases.
‘In my experience, employing forensic accountancy services can make a significant difference to complex cases and they can often be extremely beneficial, whether defending or bringing a claim before the courts.’