This is a specialty practice area of SMB Advisory which undertakes engagements resulting from actual or anticipated disputes before and after the commencement of litigation and in quantifying economic loss/damages. The purpose of these engagements is to compile reports and gather evidence to support litigation at trial.
These engagements require us to look beyond the numbers in the analysis and interpretation of complex financial and business matters that typically arise under the following broad categories:
• Fraud investigations;
• Personal injury claims;
• Shareholder and partnership disputes;
• Business interruption claims;
• Insurance claims;
• Matrimonial claims;
• Professional negligence;
• Contractual disputes;
• Other – any circumstance in which economic loss has arisen or is asserted, etc.
We service the needs of:
• Government agencies; and
• Other business stakeholders and the general business community.
Crucially, we act with independence providing objective reports on the outcome of our engagements and in the provision of evidence.
Fraud Services is a sub-set of our Forensic Accounting Services worthy of special mention. Fraud can be defined as a deception made for dishonest personal gain over another party or other parties.
Occupational or employee fraud impacts businesses significantly in Australia and around the World (amongst other frauds). While estimates on the cost of fraud vary, one thing is clear, where there is opportunity, fraud is almost certain to occur.
Key categories of occupational fraud comprise:
• Asset misappropriation;
• Corruption; and
• Financial statement fraud.
The risk of occupational fraud can be reduced through appropriate financial and commercial controls.
Fraud Services fall into two key categories:
• Fraud Identification – identifying the nature and extent of fraud, the identification of perpetrators and establishment of recovery strategies; and
• Fraud Risk Minimisation – review of accounting and commercial controls to determine likely fraud risks and report on strategies to minimize fraud risk.
Our Transaction Support services fall into the following general categories;
• Due diligence – financial and commercial due diligence for business purchasers, tailored to client/transaction needs and risks. Engagements typically assist in a business acquisition decision, identify risks associated therein and commercial terms of contracts e.g. warranty provisions, financial adjustments, price, etc.;
• Business valuations – part of SellersMuldoonBenton’s Forensic Accounting service offering can be coupled with a due diligence review to establish the fair value of a business;
• Debt raising for borrowers – assistance in the preparation of borrowing submissions and to management in the preparation of financial models to support borrowing requirements; and
• Pre – lending reviews – Part of SellersMuldoonBenton’s Investigating Accountant service offering is the provision of due diligence for lenders assessing the fundamentals of a business to support loan applications or extension of existing facilities.