ICAEW focuses on improving the way accounting evidence is presented to the Justice system
"The legal system deserves more from the accountancy profession in the preparation and presentation of evidence," said Mark Protherough Head of Operations and Director of Learning and Professional Development, following the launch of a new register which will give the Courts greater confidence in evidence presented by members of the Accounting profession.
The Forensic Accountant and Expert Witness Accreditation scheme which was launched at Chartered Accountants Hall, Moorgate, London, today (Friday, 2 October) is a register which has been developed in response to pressure from the Government for an improvement in the credibility of evidence which is presented to the legal system. It has been designed with input from a range of organisations including both large firms and sole practitioners.
Mark Protherough, continued:
"The ICAEW has responded to these calls by setting up this new register. The legal process is built on a foundation of quality evidence being gathered, presented and rigorously challenged. When dealing with the issues of liberty, livelihood and justice, the accountancy profession as a whole owes a duty of care. We have developed this scheme accreditation to meet the needs of the legal and accountancy professions alike in improving the quality and credibility of legal evidence provided by the forensic accountancy community.
"The demand for forensic accountant and expert witness services is growing and the trend is expected to continue as businesses increasingly seek out experts to help them with a broad range of issues in the specialisms of criminal, family and civil law."
Peter Silk, Chairman of the Forensic Special Interest Group at the ICAEW, added:
"In our modern complex financial world resolving business disputes is a very different detective story, and the forensic accountant and expert witness can hold the key. They can bring together a range of skills, including accounting, information technology and analytical interpretation. The key factor that makes a good practitioner in this field is the ability to digest large amounts of financial data and to turn it into something that will assist the law enforcement agencies in coming to a decision.
"This new register sets the industry benchmark for professionalism, experience and specialist knowledge and the rigorous assessment from the ICAEW will provide assurance and confidence that the people on the register are experts in this field."
The investigation of fraud and preparation of expert accountancy reports to the Law Courts requires a wide range of skills. A forensic accountant is often retained to analyse, interpret, summarise and present complex financial and business related issues in a manner which is both understandable and properly supported.
A forensic accountant needs to have a firm understanding of the legal, ethical and regulatory issues faced by the Law Courts and expert meetings, in addition to the requirements of being a professionally qualified accountant of good standing.
To remain on the register, members will need to undertake a revalidation process every three years, this will help to ensure its ongoing reliability and integrity.
For further information about the Forensic Accountant and Expert Witness Accreditation visit www.icaew.com/forensicaccreditation or contact forensicaccreditation@icaew.com, Tel: 01908 248 040
Media enquiries
Howard Rhoades, Media Relations Manager, Tel: 020 7920 8616 or email: howard.rhoades@icaew.com
2 October 2009