Forensic Accounting

Insuring the right numbers!

Financial claims are often extremely complicated. If a business were to suffer physical damage, it would ordinarily engage the necessary experts to assist in the assessment of the damage. It therefore makes sense that in the event of a financial loss, with all the additional complexities, a business should engage the relevant experts to quantify their losses. 

What We Do

A Forensic Accountant is used to analyse, interpret, summarise and present complex financial and business related issues in a manner which is reasoned, coherent and sustainable.
 
Our forensic accountants are capable of assessing and calculating losses in the context of commercial disputes. With a full spectrum of financial, business and accounting skills, we are able to provide a reasoned loss estimate which can be used to support the decision making process for litigants, especially when considering settlement offers and the viability of litigation. 

Why LMI

What sets LMI Forensics apart is our ability to look beyond the numbers and take a holistic approach to assisting our clients in their businesses. We have offices around Australia and New Zealand and work closely with other experts including, where appropriate, LMI Claims and LMI Legal, thereby offering a wealth of expertise in the form of a unique team of experts.
 
We have significant experience in assisting insureds, insurers, litigants and lawyers by: 
  • identifying and utilising appropriate calculations for assessing economic losses 
  • identifying key assumptions in the calculations and providing advice as to how those assumptions might be proven 
  • preparing a report of the relevant issues 
  • presenting and explaining the valuation and accounting concepts in the dispute context, and  assisting  in mediation and settlement negotiations, including guidance on key issues
  • providing briefing papers that can be used by lawyers for advice on specific issues or in the cross-examination of witnesses (including expert witnesses)
  • reviewing and responding to opposing expert reports
  • providing expert testimony.

Services We Offer

  • Business Interruption Sum Insured reviews 
  • Business Interruption claims 
  • Stock losses
  • Economic loss calculations, whether suffered through an insured peril, tort, or breach of contract
  • Litigation support - Expert Reports/Expert Witness
  • Fidelity Guarantee / Employee Dishonesty
  • Public Liability - Injury and Property Damage
  • Product Liability, Guarantee and Recall
  • Contract disputes, other financial disputes, analysis and testimony
  • Catastrophic Damage Analysis
  • Seminars and Training 
  • Risk Management Consulting
  • Reconstruction of Accounts
  • Subrogated Recovery Assistance