Weekly Blog #5

I partially agree that it is not the forensic accountant’s role to determine whether the opposing party is guilty or innocent. This is because the investigations that they undertake such as the tracing of assets and flow of funds may reveal proof that the opposing party is in fact guilty of committing fraudulent acts. I disagree with the second section of the statement that says it is the role of forensic accountants to investigate the quantification of loss and damages to be paid to their client. In my experience when I tell people that I am studying accounting the usual response I receive is something along the lines of “Oh so you work with numbers?” While true, there is so much more to accounting than just the numbers and the same can be said here for forensic accountants.

Two opinions that a forensic accountant may be required to calculate in a Civil case include “the quantum of the damages suffered as a result of a breach of contract, tort or statutory duty.” And matters related to the liability aspects of the case.