The interpretation and application of accounting standards, accounting terminology and generally accepted accounting principles and practices are frequently at the heart of commercial disputes. As accounting standards change and new standards and financial instruments arise, new areas for issues to develop.
The use of forensic accountants to analyse accounting transactions, records and evidence can be invaluable in helping to resolve issues quickly and effectively.
How PwC can help you
We are able to assist you through:
- Identifying the relevant accounting standards and regulations applicable to a client’s business during the time period to which the dispute relates and the specific accounting issues raised by the commercial dispute.
- Identifying the range of accounting standards which could potentially be applied in the preparation of a business’ accounts and the provision of evidence or counter evidence with respect to an accounting standard interpretation.
- Providing access to the combined experience and technical knowledge of colleagues in the wider PricewaterhouseCoopers firm, both in Australia and globally, in respect of accounting standards and highly specialised businesses, often subject to specific accounting regulations.
- Preparing a report, setting out the relevant issues and presenting and explaining in simple terms the complex accounting concepts in the context of the dispute.
- Providing an informal report for use in mediation/settlement negotiations, including guidance on key issues. (Such a report will usually contain similar information to a formal report, but without being prepared to court presentation standard).
- Providing briefing papers that can be used by lawyers or counsel for advice on specific issues or in the cross-examination of witnesses (including expert witnesses) .
- Reviewing opposing reports.
