When you are factoring in the cost of a divorce, it’s advisable to consider whether it’s in your interests to obtain a forensic accountant and/or business valuation expert to assist you and your legal counsel.
How can a forensic accountant help you?
Forensic accountants are experts at analysing complex financial information and presenting relevant information in a concise and helpful manner to the Court. In many cases, forensic accountants will analyse large quantities of documents (either hard copy or electronic) and either quantify a loss or in the case of a divorce matter, they can reconstruct financial records and provide a valuation for a business.
Business valuations can be an extremely important part of a property settlement and a separate article exploring this in further detail can be found here.
The cost of a forensic accountant can range from a few thousand dollars to over $20,000. It depends on the type of business being analysed or valued, the number of documents, the degree to which the documents are in an electronic form and many other factors.
While it’s useful to consider a forensic accountant in the cost of a divorce, it’s our experience that a good forensic accountant can save you much more than the cost of their services. Unravelling complex commercial structures can often have large tax consequences and expert advice in these types of matters will be in your best interests.
If you would like an obligation free quote to obtain the services of a Forensic Accountant then please don’t hesitate to contact us.
About the Author
Andrew Firth is a Forensic Accountant and expert valuation professional. He provides expert accounting reports for family law (divorce) and commercial disputes. Andrew is a former investigator with the Serious Fraud Office in the UK. He has also worked for KPMG and Deloitte during his career. Andrew is based in Sydney and provides forensic accounting services throughout Australia and overseas.