Insights · 14 questions answered
Short, direct answers drawn from specialist work. Examples are hypothetical or de-identified and approved before publication.
Instant answers from our published Q&As. General information only.
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A single expert is jointly appointed by both parties to give one independent opinion on the value of a business interest. Both sides provide instructions and information, and the expert's duty is to the court rather than to either party. It often reduces cost and the conflict that comes with competing valuations.
Often, yes, if records exist. A forensic accountant traces funds through bank statements and transaction documents, and looks for patterns such as unexplained transfers, cash withdrawals or lifestyle spending that income does not support. Where the trail breaks, the report identifies the gap and which records could close it.
Start with complete bank statements for every account the money may have passed through, for the whole period in question. Add loan, property and share transaction documents, and the general ledger where one exists. Missing statements are the most common reason a trace stops.
An auditor gives an opinion on whether financial statements are fairly presented, using sampling and materiality. A forensic accountant answers a specific question, such as where money went or what a loss is worth, and examines the transactions that matter in detail, often for a dispute or investigation.
Read the notice carefully and note its deadline, speak to an employment lawyer, keep all payroll, roster and timesheet records, and get an independent recalculation of what is owed before you respond. Accurate, documented figures help you respond properly and limit the risk of further action.
It can be. Since 1 January 2025, an employer who intentionally underpays wages, superannuation or other entitlements can commit a criminal offence under the Fair Work Act. Honest mistakes that are corrected are treated differently. Victoria also has its own wage theft laws. Get legal advice and an independent recalculation early.
Payroll remediation is the process of finding, calculating and repaying wages and entitlements that employees were underpaid, and fixing the cause. It usually runs in stages - risk review, recalculation, fixing the payroll error, repaying employees, and dealing with regulators - with an employment lawyer advising throughout.
An earn-out pays part of the sale price later, depending on how the business performs after the sale. Buyers use it when value depends on the seller staying involved or on uncertain future results. It can bridge a price gap but carries risk for the seller, so the targets and measurement need careful drafting.
No. You can hire a forensic accountant at any time, before a dispute, during one, or simply because the numbers don't add up. A court order only affects how expert evidence is used if a matter later goes to court.
No, you can engage a forensic accountant directly. But if there is a legal dispute, or one is likely, bring your lawyer in early. Your lawyer frames the legal questions, we answer the financial ones, and the two need to line up.
Hourly rates for forensic accountants in Australia are commonly around $300 to $600, depending on experience and complexity. The hourly rate tells you little on its own. The total depends on the question, the volume of records and the type of report, which is why a clear scope and fixed fee is the better guide.
No. Price reflects a firm's overheads and brand as much as the quality of the work. A good forensic accountant asks the right question, tests the evidence, and explains conclusions that survive cross-examination. Those things don't come with a premium price tag.
Yes. One way to qualify for the small business CGT concessions is the $6 million maximum net asset value test. If goodwill or other assets are understated and the true figure exceeds $6 million, you may fail that test, and the concessions could be denied if the ATO reviews it. A supportable valuation protects your position.
Bring in a specialist when a client needs an independent opinion that others will rely on or test, such as a valuation for a dispute, buyout or related-party transaction, or analysis of missing funds or a loss claim. Independence and report standards matter most in these matters.
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