Crowe: rising demand for forensic accounting

What is your experience in the industry? I have worked for accountancy firms since 2003, training at a firm that I stayed at for over 16 years. I have specialised in forensic accountancy since 2005 and became a partner at my previous firm, Azets, in 2019. What attracted you to the role at Crowe, and what do you hope to achieve in this role? I have known of Crowe as a firm since starting in accountancy and I’m well aware of its strong reputation in the accountancy profession. The opportunity to work for a well-respected firm and with well-known and experienced forensic services partners and staff was a great opportunity. Additionally, being able to establish a new presence in Birmingham’s city centre and develop Crowe’s forensic accounting offering in the Midlands meant the decision to move was easy. My objectives are to become a port of call for anyone that requires forensic accounting services in the Midlands and support existing teams nationally, while at the same time being a key part of Crowe’s overall presence in the Midlands. What does forensic accounting entail? The work of a forensic accountant is varied and, in my view, exciting and challenging. In simple terms we are involved where a financial dispute or financial investigation arises. We can be supporting or advising a client directly or be appointed as an ‘expert’ where our duty is to assist the Courts in making decisions on those financial disputes and investigations we are instructed on. I personally love the variety of the work and the fact no case is ever the same. Getting to problem solve, work with other professionals, and provide a service which can get clients results is what motivates me and is a reason I like the work that I do. There is nothing more satisfying than a client getting a successful outcome and knowing the work you did was valued and well received. What services does Crowe plan to offer in this department? We offer the full range of forensic accounting services, which include (but not limited to): Consequential loss calculations Insured loss assessments Shareholder, partnership and matrimonial disputes Intellectual property disputes Breach of warranty and contract claims Disputes connected with business valuations Fraud and insolvency investigations Criminal and business defence cases Professional negligence claims. How do you expect your appointment to be received? I am hopeful it will be really well received, and my contact base has been excited to see me make the move to Crowe. Instructions generally, in my service line, come from contacts who trust you as an individual and the firm you work for. Nothing has changed in terms of me, and I consider having the Crowe brand and reputation will further strengthen the department to be one of the leading providers of forensic services in the Midlands and nationally. This growth is building on the credentials that Crowe already has in the forensic services space. Why is demand for forensic accounting rising? The nature of the work that we do often means that when the economy is under distress, the requirement for our services rises. I would expect, and have already seen, the increase in contract disputes and also in matrimonial matters. There is also the well-publicised rise in alleged and reported fraud, which should mean an increase in the requirement for forensic services. In times of economic uncertainty, there is the issue of how clients will fund any litigation or investigation that they need, but I am beginning to see this being managed more and more by litigation funders or legal firms who specialise in taking class action cases (i.e. running litigation for a number of claimants at once). Given this, I consider the next few years to be a busy time for forensic accountants. How can accounting firms tackle these issues? The key thing to me is understanding the requirements of our instructing party, whether it be solicitors or clients directly. My first question on any new instruction is to find out the objective of our work so that we can ensure clients get the best service we can provide. Our role will include providing calculations on quantum, whether that be a loss through fraud or a calculation of damage or commenting on other forensic accountants’ work. The output of this can take many guises from writing an expert report for Court, making an expert determination, providing an advisory report or note through to giving oral testimony in Court. What is next for Crowe? There is a continued focus on quality, remaining resilient as a firm and achieving sustainable growth. In terms of forensics, as stated earlier, I see the market will need our services more and more at present and I want to ensure that Crowe is ready to take on these instructions. There are plans to grow forensic services nationally and I am grateful that Crowe is supporting us to achieve this growth. I am excited to be part of this journey and I am looking forward to the future at Crowe.

Crowe: rising demand for forensic accounting

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