In “The Importance of Forensic Accountants in Partner and Shareholder Litigation – Part 1‚” we discussed the role of a forensic accountant and how he or she may assist in the “settlement process.”
As a shareholder and partnership litigation attorney‚ I can absolutely state that it is critical that the books and records of your company be thoroughly assessed and evaluated‚ especially if you are a minority or non-controlling partner.
So at an early stage of litigation – during discovery – we typically bring on board a forensic accountant to alert and guide us in finding:
- Undisclosed liabilities;
- Fraudulent transactions; and
- Self-dealing by your partners.
Assessing and uncovering financial fraud at an early stage will actually help to avoid trial and hopefully provide an opportunity for settlement.
To Learn More‚ order a complimentary of Mr. Internicola’s book “New York and New Jersey Partnership Dispute Guide” by clicking here.