Litigation

The process of the complexities of litigation and its aspects on the personal liability of directors is profound. Disputes are a fact of life. However, as personal and commercial transactions have become more complex and the need for accountability has increased, so the likelihood of conflict has spiralled.

For many years accountants have provided invaluable support to solicitors involved in cases of dispute. Today the need for high quality accountancy help is greater than ever and as Philip Wood is a member of the Academy of Experts and a founder member of the Expert Witness Institute, our quality is assured. It is also apparent that following the Woolf report many accountants are being instructed much earlier than used to be necessary and this is to be appluaded in reducing costs and mitigating liability wherever possible.

Nature of disputes

Accountants provide a wide range of skills to assist existing and prospective clients and their advisors who deal with litigious matters. These may arise from:

Clearly the prompt use of an expert accountant in appropriate criminal action is essential. Their primary functions are to determine the relevant evidence and (unlike most other witnesses) give an opinion on it for the benefit of the court as a whole.

This role is extended further in civil cases where, normally, the only redress arising from conflict is financial. The expert accountant may be used:

• To assess and form an opinion on the
  relevant evidence.
• To calculate the financial adjustment necessary to correct the position.