Forensic Accounting and Fraud Trials

1. Smith & Williamson 2006 All rights reserved Forensic Accounting and Fraud Trials Kay Linnell Director Forensic Accounting Smith & Williamson Limited

2. Smith & Williamson 2006 All rights reserved Forensic Accounting and Fraud Trials Suitable to courts or public debate Specialised mode of analysis Investigative accounting Financial Intelligence Litigation support Dispute resolution

3. Smith & Williamson 2006 All rights reserved Forensic Accounting and Fraud Trials Analyse Interpret Summarise Present complex data Industry norms Explain accounting conventions Conclusions and opinion

4. Smith & Williamson 2006 All rights reserved Forensic Accounting and Fraud Trials Overriding duty to the Court Understanding of legal process Understanding of CPR Up to date technical knowledge Ability to give written reports Ability to answer questions Ability to give oral evidence

5. Smith & Williamson 2006 All rights reserved Forensic Accounting and Fraud Trials Advice of review of facts Suggesting lines of enquiry Identifying key documents Obtaining third party confirmation Assisting to trace and identify assets Co-ordinating with other experts

6. Smith & Williamson 2006 All rights reserved Forensic Accounting and Fraud Trials Typical sales frauds Phantom sales Improperly valued sales Premature recognition of sales VAT timing frauds Teeming and lading Diversion of receipts

7. Smith & Williamson 2006 All rights reserved Forensic Accounting and Fraud Trials Cut off Frauds Bad debt provisions Accruals and reserves Prepayment and debtors Work in Progress Delayed expense recognition

8. Smith & Williamson 2006 All rights reserved Forensic Accounting and Fraud Trials Related party transactions Non-existent assets Over-valuation of assets/stock Acquisition accounting Improper capitalisation of expenses Differences and reserves Diverted windfall receipts

9. Smith & Williamson 2006 All rights reserved Forensic Accounting and Fraud Trials Non-financial data Data mining Active electronic analysis Credit reports Related person activities Local background Industry data

10. Smith & Williamson 2006 All rights reserved Forensic Accounting and Fraud Trials Crim PR 33 Draft protocol Meeting of experts prior to trail Review of all relevant documents Instructions to the experts Meetings with a client in custody Access to records held by the police

11. Smith & Williamson 2006 All rights reserved Forensic Accounting and Fraud Trials Interesting Cases: Price Waterhouse (a firm) v. BCCI Holdings ( Luxembourg) SA and others Price Jefri Bolkiah v. KPMG RGB Resources plc (in liquidation) v. Rastogi Clarke v. Trimoco Motors Ltd (1983) ICR 237 Re Priory Stainless (UK) Ltd Jean F. Jones v. University of Warwick Dubai Aluminium Co Ltd v. Sayed Reyad Abdulla S Nasser Al Alaw & Others

12. Smith & Williamson 2006 All rights reserved Forensic Accounting and Fraud Trials More Interesting Cases Laemthong International Lines Co. Ltd v. Artis and Others R v. M.H.Greet R v. E A M J R White The Queen on the application MG Ward & J Howarth v. Criminal Case Review Commission J.F.Donnelly v. R P.J. Quinn ( Next Friend The Official Solicitor) v E. Keenan

13. Smith & Williamson 2006 All rights reserved CONCLUSION

14. Smith & Williamson 2006 All rights reserved QUESTIONS

15. Smith & Williamson 2006 All rights reserved

16. Smith & Williamson 2006 All rights reserved