Forensic accounting firms work closely with solicitors and barristers, helping them and the Court understand the figures central to their client’s case. Forensic accountants combine their accounting knowledge with a thorough understanding of law and legal procedures, an inquisitive mindset, investigative skills and exceptional attention to detail.
Frenkels Forensics is a forensic accounting firm with over 40 years’ experience. Our Head Office is in London, and we have a network of regional offices in Bristol, Brighton, the North West and the West Midlands. Many of our forensic accountants are leaders in their fields, and we regularly work with the UK’s leading solicitors’ firms and barristers’ chambers, insurance companies, corporates and private individuals.
What Do Forensic Accounting Firms Do?
Forensic accounting firms have an incredibly diverse workload, ranging from assisting clients going through a divorce to reach a fair settlement, to analysing calculations produced by the Crown Prosecution Service in Proceeds of Crime matters and quantifying the damages due to a Claimant in personal injury litigation.
We offer a comprehensive forensic accountancy service, with particular expertise in the following practice areas:
• Personal injury claims.
• Crime and fraud.
• Business valuations.
What Types Of Services Do Forensic Accounting Firms Provide?
Forensic accounting firms are a crucial aspect of any legal team as their work enables solicitors and barristers to understand the financial elements of a claim, resolve the most challenging disputes and reconcile the most complex figures.
To add real value to their client’s case, forensic accountants require a unique skill set. Exceptional accounting expertise is a given, but the work of forensic accounting firms goes beyond straightforward numbers and cac accounting firms provide?lculations. Forensic accountants must be able to analyse and understand vast amounts of complicated financial data, extract the information helpful to their client’s case, prepare and compare endless calculations and present their findings in a user-friendly, accessible manner. This requires an understanding of the relevant area of law together with tenacity, communication and problem-solving skills and creativity.
Different cases require different levels of forensic accounting input, and at different stages. Often, forensic accounting firms are instructed at the outset of a matter, to help the solicitors to get a feel for the likely level of damages in a personal injury claim, for example. Other times, we may get involved further down the line, such as in response to the Court ordering a full CPR compliant Report.
Whatever level of assistance you need, and whatever stage your matter has reached, we can help. We will tailor our service to your needs and budget, providing as much or as little input as you desire. We are often instructed on an urgent basis, when forensic accountancy expertise is required at short notice, and we are adept at producing top quality work under tight time constraints.
The types of service we regularly provide include the following:
• Desktop reports.
• White label schedules.
• CPR reports.
• Reviewing a Defendant’s bank statements and other financial information to identify the proceeds of crime.
• Acting as Expert Witnesses, including preparing Expert Witness Reports and attending Court to give evidence under cross examination.
• In-house training at your place of work on areas of interest or updates in the field of forensic accountancy.
How Can Forensic Accounting Firms Help With Your Matter?
The work carried out by forensic accounting firms is highly specialised. The technology we use to analyse our client’s financial data, and that disclosed by the other side, is constantly evolving and enables us to distil arduous, labour intensive processes into minutes. For example, we have developed our own Industry Standard ‘Frenkels Calculator’ which is a complete loss of earnings tool that allows us to compare unlimited scenarios at unparalleled speed. The calculator has proven invaluable in enabling us to run unlimited calculations for our clients, based on different variables, quickly and accurately, and puts our clients at a distinct advantage in terms of having a thorough understanding of the quantum element of their case.
Having a leading forensic accounting firm like us on your side is often instrumental in securing a positive outcome to a matter. For example, we regularly succeed in significantly reducing the figures forwarded by the CPS as constituting the proceeds of crime, by analysing the financial data and proving that a percentage arose through legitimate means. In the context of personal injury matters, our input is not only vital in proving your case to a Judge, but it regularly facilitates the settlement of a claim before it reaches trial, thereby avoiding the uncertainty of litigation. A Defendant presented with clear, robust damages calculations is far more likely to enter into meaningful settlement discussions than they otherwise might be.
We offer a free, no-obligation quote at the outset of all matters, so you can get a feel for the type of forensic accounting firm we are, how we can help you resolve your issue and the likely costs.
“Your report was a herculean task and put us in an incredibly strong position. Thank you ever so much for the work and advice you have provided . The report was clear and accessible and will not hesitate to recommend you all.”
“I am indebted to you for your contribution, and for explaining things in plain English such that even lawyers can understand the issues”
“It was a pleasure working with you on what was a rather difficult case”