FRP was approached by a law firm representing an individual whose property and financial affairs were being managed by her son, under a Lasting Power of Attorney (LPA). Following concerns that the individual’s financial affairs were being mismanaged, the LPA was revoked and the mother brought a claim against her son, asserting that he had stolen or misappropriated monies belonging to her.
FRP was jointly instructed by both parties in the dispute to act as a single joint expert. The various heads of claim were supported by a spreadsheet analysis prepared by the claimant. We reviewed the spreadsheet and supporting bank statements and identified a number of inconsistencies in the claimant’s assumptions as well as transactions that were either missed or incorrectly included in the claim totals.
Our Forensic Services team prepared an expert forensic accounting report categorising and summarising the relevant transactions, including those upon which we were unable to conclude. Following a round of questions and answers in which both parties were able to examine our report and provide further documentation or explanation, we expanded on a number of points in a supplemental expert report.
Following our analysis, we estimated the claim value to be lower than the amount calculated by the claimant, notwithstanding that approximately 35% of the transactions could not be substantiated due to the lack of supporting information – a fact that was clearly highlighted in our conclusions. The judgment found in favour of the claimant.
FRP prepared an expert forensic accounting report categorising and summarising relevant transactions.Chris Osborne Forensic Services