Accounting and Investigations
The numbers do not lie.
Overview
Leveraging financial and accounting insights into solving complex issues can make the difference.
That's where our accountants come into the picture.
Whether you need to understand the financial drivers to support your decision-making, find out what’s gone wrong, or protect yourself and your business from fraud or other risks, our accountants will work with our lawyers and data analytics experts to help you make sense of complex data, focusing on the aspects that matter most. And if an independent expert is needed, our accountants can help to give the right instructions so you get what you need, and assess the soundness of their work.
Accounting and litigation support: financial/accounting data extraction, review and analysis of financial and accounting information, loss quantification calculations, and interpreting and applying accounting standards.
Investigations: fraud, bribery and corruption, internal controls compromise, regulatory non-compliance, and grant funding compliance.
Financial contract compliance: tender process assessments as well as assessing third party financial compliance risk, contract management plans and processes, and contractor fees charged.
Protecting yourself: Fraud and corruption risk management, modern slavery risk, business process reviews and internal control, as well as Know-Your-Customer checks, business intelligence, third-party financial viability and foreign bribery and corruption due diligence in M&A deals.
How we can support you
Experience
Case Study: Review of contractor fees - State Government Department
Background: Our client, a state government department engaged a construction project manager under a significant contract to manage a major infrastructure project over three years. After six months, due to concerns about escalating fees and potential non-adherence to the contract, we were engaged to perform an accounting review of the costs incurred against the contractual requirements.
Details: Working under instructions of our Major Contracts and Procurement team, we performed a detailed analysis of the work schedules and contractor invoices. This required a granular assessment of the supporting documentation to determine if the amount of work invoiced was in accordance with the contract’s fee schedule, and approved in accordance with the process set out in the contract. All aspects of non-compliance were quantified and provided documented in our legal team’s advice to the client, which was instrumental in guiding the client’s decisions regarding the continuation of the contract and the possible recovery of funds.
Case Study: Accounting support on large dispute matter
Background: Our commercial litigation team represented a client in a long-running dispute involving various matters, including a dispute relating to the ownership of iron ore mining tenements.
Our accounting team was tasked with reviewing and analysing historical accounting records, including that of a partnership, to determine the accounting treatment of costs associated with the acquisition and exploration of the mining tenements.
Details: Our accountants were able to ascertain the accounting practices over a period of three decades by reconstructing the data and verify the accuracy of the entries.
Our team also critically assessed the accuracy of reports submitted by opposing experts. We provided ongoing and time-critical support to the legal team and external counsel during trial. Our involvement proved critical in untangling decades of accounting information in support of our client’s legal arguments.
Case Study: Fraud Control review for Commonwealth Government Agency
Background: Under the Commonwealth Fraud and Corruption Control Framework (the Framework), Commonwealth government agencies that are non-corporate are required to undertake a fraud and corruption risk assessment at least every two years or when there are substantial or emerging changes in the structure, activities or functions of the entity.
Our client, a non-corporate Commonwealth government agency required an updated Fraud and Corruption Risk Assessment and Fraud and Corruption Control Plan to ensure compliance with the Framework regarding the agency’s ability to prevent, detect and respond to fraud and corruption.
Details: Working directly with the client, we undertook a desktop review of documentation which enabled us to compile a catalogue of relevant fraud and corruption risks specifically relevant to the unique operating environment of the agency. We conducted a series of targeted workshops with key stakeholders across the agency to understand the potential exposure for each of these risks along with any mitigating controls in place since the previous assessment. Our desktop review combined with our targeted workshops informed our risk assessment and relevant updates to the Fraud and Corruption Control Plan including recommendations to enhance the control environment where required.