How criminal and regulatory support works
A NIFA member can review accounting records, reconstruct transactions, test assumptions and explain what the financial evidence shows. This can include assessing the robustness of conclusions drawn from financial and accounting evidence and considering whether the records support an alternative factual scenario to that underlying the allegations.
Members can also consider whether the financial evidence is consistent with the other factual evidence available, including relevant witness evidence. Members can support matters as Party Appointed Experts, Single Joint Experts or Expert Advisers, depending on the needs of the case.
Who criminal and regulatory is for
Criminal and regulatory support is for solicitors, barristers, prosecution teams, defence teams, regulators, businesses and individuals who need independent analysis of financial evidence. NIFA members have experience acting as accounting experts for the prosecution, defendants and relevant regulatory bodies and are usually appointed by the solicitor or barrister managing the case for the relevant party.
It is also relevant where complex accounting information needs to be explained clearly for clients, counsel, courts or tribunals.
When criminal and regulatory expertise can help
NIFA members have assisted prosecution and defence teams in relation to many types of criminal and regulatory cases, such as:
- Corporate fraud including fraudulent trading and false accounting
- Other fraud including investment and mortgage fraud
- Theft including employee theft
- Insolvency related offences
- Carousel and other tax fraud
- Money laundering
- Confiscation Orders and the assessment of the level of confiscation claimed for legal proceedings
- Testing the completeness and accuracy of financial evidence against the wider factual evidence
- Assessing whether financial evidence supports or challenges the factual scenario on which allegations are based
Criminal and regulatory process and outcomes
The process usually begins with a review of the allegations, the financial records available and the accounting questions in dispute. The forensic accountant then analyses the evidence, identifies any gaps or assumptions and considers whether the financial information is complete, accurate and consistent with the wider factual evidence available. Where appropriate, the expert can test the robustness of conclusions already drawn from the accounting evidence and consider whether that evidence indicates an alternative factual scenario.
The expert then prepares a clear explanation of the financial position. The outcome is independent financial analysis that can support case assessment, challenge calculations and present complex information in an accessible way for the legal team and, where required, the court.
Why choose a NIFA member for criminal and regulatory matters?
NIFA brings together independent forensic accountants who understand criminal and regulatory work, litigation support and expert witness duties. With backgrounds in accountancy practice, members can bring practical commercial insight to their analysis, helping to ensure that financial conclusions are considered in the context of commercial reality.
Members are experienced in carrying out detailed financial analysis efficiently and cost-effectively without compromising the quality of the work. Many NIFA members are also familiar with the process of obtaining Legal Aid Agency funding and can undertake appropriate cases at applicable Legal Aid rates.
Legal professionals can use NIFA to identify a suitably experienced specialist, while members benefit from shared resources, training, referral opportunities and annual quality review.
To find a forensic accountant with the criminal and regulatory expertise your matter requires…
FAQs
Without early accounting input, legal teams may miss gaps in the evidence, rely on untested assumptions or spend time responding to calculations that require expert scrutiny. Early forensic accounting input can also help establish whether the financial evidence is complete and accurate, whether it is consistent with the wider factual evidence and whether the conclusions drawn from it are sufficiently robust.
Yes. NIFA members have experience acting as accounting experts for prosecution and defence teams, as well as relevant regulatory bodies. They are usually instructed by the solicitor or barrister responsible for managing the case for the relevant party.
Yes. NIFA members have experience providing expert evidence in relation to Confiscation Orders and investigating the level of confiscation claimed for legal proceedings.
Many NIFA members are familiar with the process of obtaining Legal Aid Agency funding and have the scale and structure to undertake appropriate cases at applicable Legal Aid rates.
Contact NIFA with an outline of the allegation, the records involved and any procedural timetable so the most appropriate forensic accounting expertise can be identified.
Our recent criminal and regulatory work
NIFA members regularly support criminal and regulatory matters involving transaction analysis, company records, accounting irregularities and proceeds of crime issues.
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Long-serving NIFA member, Peter Smith, reflects on institute’s value
Read case studyAs one of the longest-serving members of NIFA, Peter Smith is well-positioned to reflect on the value of the institute and the benefits it brings to members and legal professionals. Having worked for a major law firm for a while, Peter set up his own practice and has worked diligently to make it a success […]
