Weathering the storm
Panellists at the ICAEW’s Forensic and Expert Witness Group conference in November debated the impact of technology and downward pressure on fees on the forensic accounting market. Rachel Fielding listened in.
The evolution of technology combined with a lack of available funds presents interesting challenges to forensic accountants, but a panel of experts unanimously dismissed the idea that their roles would be redundant by 2020 as a result.
John Ellison, former chairman of KPMG Forensic and now a consultant, admitted that while technological developments had the potential to fundamentally change the role of forensic accountants, “painful and expensive” experiences meant the requirement for good forensic accounting experts had never been greater.