Why You Need Expert Accountants In Cases Of Fraud

The regulators' criminal budget is taken up by large and expensive fraud cases

. The huge amount of financial documentation involved often takes up a massive amount of prosecutors' and the courts' time. Where the matter is complex, this time is often wasted if the court never fully understands the matter and reaches the wrong decision.

The justice system is adversarial meaning that criminals have the right to present a comprehensive response to any indictmnents that are made. They are considered innocent until it is proved otherwise. The system is possibly the best and fairest possible, but does have its own faults. Having a fair trial is right, and means that every aspect of a case must be carefully examined and cannot be simply skirted over. Of course this means that the criminal defence team can exploit the system to their advantage.

In order to ensure that complicated financial matters are easily understood by the court it is essential that relevant evidence of fraud is examined by a competent fraud expert witness or forensic accountant and presented clearly and succinctly. In an ideal world this would take place at the time the case is prepared by the police. The trouble is that such persons are usually not employed by the police often becauise of budgetary constraints. After following up a fraud, a case will sometimes be presented by piling in all the financial documentation as evidence irrespective of whether or not it links together and proves the crime.

This means that the defence will have to employ an experienced forensic accountant to trawl through every aspect of the case and potentially act as a fraud expert witness during the trial. Any savings made by the police will mean extra spending for the defence which still comes out of the public purse! In addition, when the expert forensic accountant used by the defence submits a report criticising the prosecution's case, the police then need to seek the services of their own expert to respond. Thus the costs that they saved in the first place need to be incurred after all.

The most expensive trials are often those involving fraud, and many of them have failed in the past wasting a lot of public money. One solution would be for the investigating authorities to employ the services of a forensic accountant at some pointy during the preparation of their case. Different aspects of a case would be tested by a forensic accounting expert who would be able to advise on weaknesses or lack of frinancial evidence. Employed in a better way, such costs should not be as great as for a full blown expert accountant's investigation. In this way when faced with the prosecution case summary there is less opportunity for areas of criticism using defence experts.

An expert for the defence would only have to check the approach used by the Crown, just working on focused aspects of the case rather than doing a whole investigation from scratch. There would be a substantial reduction in the amount of cdocumentation that needs to be disclosed.

It is an added benefit as the two opposing side experts can meet. After a very short while they should reach an agreement over the majority of issues, leaving just a few outstanding points to be argued in court. Any points remaining will be less likely the complex financial detail but more obvious legal arguments requiring the imput of lkawyers alone.

Expert forensic accountants are needed in complex cases of fraud so that athe evidence can be understood by the court - these being not accountancy trained. However, their use can be expensive and add to the already massive costs needed to run the criminal justice system. If more use is made earlier on but spread evenly between both opposing sides, the eventual total costs might be lower and the outcome fairer.

by: Mark Jenner

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