When should an accountant bring in a valuation or forensic specialist?

Short answer. 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.

Accountants are often the first adviser a client calls when something changes. Many matters stay with the accountant. Some benefit from an independent specialist.

Situations where a specialist helps

• The other side will test the figure. Disputes between partners, family law settlements and shareholder claims need a valuation prepared for scrutiny.
• Independence matters. If you prepare the client’s accounts and tax, an external valuer avoids questions about your objectivity.
• Related-party transactions. Restructures and transfers need supportable market values.
• Something does not reconcile. Unexplained payments or missing funds call for forensic analysis.

Keeping the client relationship

A specialist engagement can be limited to the specific question. The accountant keeps the ongoing compliance and advisory work, and roles are agreed in writing at the start.

General information only. It does not take account of your circumstances and is not legal, tax or financial advice.