Forensic Accountancy for High Profile Case

Award outcome

Description

The requirement relates to a group of insolvent companies being investigated under the provisions of the Company Directors Disqualification Act 1986, and will include, but not be limited to: • Examining and analysing a large number of bank accounts, relating to a variety of companies, both in the UK and overseas (including United Arab Emirates and Isle of Man). • Following money trails and analysing the movement of funds. • Analysis of complex Group banking facilities and security arrangements including a cash pooling arrangement operated through a revolving credit facility, and a Composite Accounting System. • Analysis of the companies' bespoke electronic accounting software package, aligning information therein to other management and accounting information. Data held is approximately 1.6TB in total size. • The review and analysis of management accounting information (a large volume of management accounts spreadsheets is presently held, together with additional material comprising budgets, forecasts and banking data across the group entities), together with other financial data provided from enquiries to external third parties, to determine the financial position of the Group, and individual operating entities, at specific points in time. • An assessment of the contemporaneous availability of management accounting information having regard to the meta data in relation to those records. • An assessment of the impact of specific transactions on the solvency of the Group and individual operating entities considering available financial resources and the contemporaneous trading environment and having regard to Section 123 of the Insolvency Act 1986. • Analysis of changes in the Group secured debt provision considering distributions made following the realisation of assets pertaining to insolvent group companies, assessing impact upon unsecured creditors. • Producing an expert report to include appropriate graphics to explain the financial position of the various entities at particular points in time, and the impact of particular transactions in terms of benefit to connected entities or detriment to unsecured creditors. • There will be a need for ongoing liaison with the investigation team as additional material is identified during the currency of the enquiries, necessitating regular interactions and interim reporting on progress. Should the matter progress to trial the Potential Provider will be required to: • Give consideration to any accounting points advanced to support defence arguments and assisting the civil enforcement team to respond to any forensic evidence produced by the defence. • Understand and act as an expert witness in civil proceedings brought under the Company Directors Disqualification Act 1986 and the rules governing that role. • Acting as an expert witness in Court proceedings, including cross-examination by the defence.

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