LAWYERS DEAL with many issues needing analysis of data. Here are some of the current hot-button forensic topics:
Flow of funds through offshore vehicles. The Panama Papers have again brought into focus the use of offshore structures to minimise, or avoid, tax. But the tax man is fighting back, with $679 million in additional funding for the ATO in this year’s budget to identify and catch tax cheats. Forensic accounting is crucial to understanding and tracing the flow of funds through offshore vehicles.
Construction disputes. Australia’s mining boom gave rise to some of the largest resource projects the world has seen. And with big projects come big disputes. The scale and complexity of these projects means that Data
Analytics and Technology Assisted Review of information are critical to a successful outcome.
Bribery and corruption. In June 2015 the Australian Senate began an inquiry into the law governing the activities of Australian corporations, entities, organisations, individuals, government and related parties with respect to foreign bribery. It’s been hard to avoid news of bribery and corruption worldwide; allegations have been made against FIFA, Unaoil and Malaysian Government Officials to name just a few. Due diligence, risk assessments and compliance reviews must be front of mind for prudent executives and directors. Incentives and protections for whistle-blowers is another hot topic.
Cooking the books. It’s an offence perhaps as old as accounting itself, but old-fashioned fraudulent accounting is never off our radar.
IP theft. Corporate espionage is more prevalent than ever thanks to the many ways in which theft of commercial information can take place; think of the cloud, bring-your-own mobile devices, personal email accounts, USB drives and, yes, hard-copy documents too. Best to have controls to prevent the theft occurring, but also a plan to act quickly to minimise loss should the worst occur and sensitive information make its way to a competitor.
Public inquiries. The Trade Union Royal Commission ended last year, ICAC is holding ongoing hearings, and there are calls for a Royal Commission into the banking industry. Forensic investigations have been crucial to the presentation of clear and factual evidence before these inquiries.
"Australia’s mining boom gave rise to some of the largest resource projects the world has seen. And with big projects come big disputes. The scale and complexity of these projects means that Data Analytics and TechnologyAssisted Review of information are critical to a successful outcome."
We provide clarity and objectivity to organisations when the commercial stakes are high and the evidence is critical to the outcome.
Our specialist forensic tools, rigorous analysis and clear presentation of the financial, factual and electronic information provide insights that are otherwise hidden in the detail of a dispute, investigation or review.
For detailed case studies on the examples included above, or to explore other ways forensic can help lawyers and their clients, visit www.kordamentha.com/forensic
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