Using Forensic Accounting To Solve The Technicalities Of Loss Of Earnings
When it comes to an injury sustained in a road traffic accident (RTA), there still exists an element of controversy when making personal injury claims. The ongoing discussions over whiplash continue to gain momentum on both sides as the government aims to crack down on false claims.
However, those involved in RTAs can suffer much more extreme injuries which make them unable to continue working for anything from a short period of time to the rest of their life. The same is also true where injury has been sustained due to clinical negligence. Assessing the loss of earnings in these cases can be complicated, especially where the injured party has irregular earnings – for example they are self-employed. It is here where forensic accounting is useful in correctly calculating a fair settlement.
Take an architect injured in an RTA. His work prior to the accident would most likely have been based on contracts, which may range from large to small assignments. This would meant an unusual pattern of earnings, making it difficult to come to assess the loss of earnings suffered.
Analysis of a variety of documents, from expenditure records to tax returns pre and post-accident is required to establish the true facts when compiling evidence for a court to base a fair settlement decision upon.
This is where Frenkels Forensics comes in – preparing accurate projections based on the evidence gathered. Acting on behalf of the defendant or the claimant, our team of forensic accountants will decipher the net losses of the claimant and how they and their business may have progressed but for the accident.
For expert help in making or defending against a personal injury claim contact Frenkels Forensics for an independent appraisal.
Alternatively, if you’re looking for advice in any aspect of forensic accountancy, then do get in touch via Twitter, Google+, LinkedIn or by visiting our website www.frenkels.com
By Vitek Frenkel – find me via Google+.