PERSONAL INJURY CLAIMS

Losses caused by personal injury can often be difficult to quantify. Our specialist forensic accounting service for personal injury claims can help.

Why Use a Forensic Accountant For Personal Injury

The calculation of damages for personal injury claims will revolve around estimated loss of earnings and/or pension. It is up to the claimant to quantify their losses if they want to be returned to the same financial position as before the incident occurred. A forensic accountant will analyse the ins and outs of a case and provide an expert opinion — something that can prove vital to your chances of success, especially in more complex cases.

Who Can Hire a Forensic Accountant

When it comes to personal injury claims, a specialist forensic accountant can be instructed by either a claimant’s or defendant’s solicitors, either on a single or joint basis. They will be called upon to act as an expert witness and quantify any damages that may have occurred as a result of the incident.

Due to the level of skill possessed by a forensic accountant, they will usually be instrumental in securing a positive result for their client.

Need Our Assistance?

If you are looking for an expert opinion on personal injury claims, contact our specialist forensic accountants today.

Types of Personal Injury Claims

Forensic accountants will act on a wide variety of personal injury claims, including:

  • Loss of earnings
  • Loss of profit
  • Loss of pension rights
  • Loss of dependency

When assessing the validity of personal injury claims and quantifying losses, a forensic accountant must also take into account any costs that were saved as a result of the incident. It is important to factor these into any calculations to obtain a true valuation.

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The Forensic Accounting Process for Personal Injury

When assessing and quantifying personal injury claims, there are a number of important steps that a forensic accountant will take. These range from an initial review of available documentation, to carrying out an in-depth investigation into the incident and its impact. The process involved may vary depending on if they are acting on behalf of the claimant or defendant.

The first step of the forensic accounting process will be to arrange an initial consultation, where the accountant will meet the client and gain an understanding of the circumstances surrounding the personal injury claim, provide an expert opinion on the likelihood of success, and judge whether/how they can assist.

Once the consultation has been completed, the forensic accountant will carry out a review of all the documentation provided by the client. This will also include witness evidence, usually in the form of statements. The early consideration of this information is often important to establishing a narrative of the events and determining responsibility.

The forensic accountant will then gather as much physical evidence on the case as possible. They will carry out a detailed analysis of all the facts and figures relating to the case. The investigation will be primarily based on a ‘but for’ basis, which will seek to build a picture of what the claimant’s circumstances and finances would have been if the incident had not taken place.

With the investigation concluded, the forensic accountant will produce an in-depth report that details their findings and, most importantly, quantifies any damages that have occurred as a result of the incident. This will be based on the statistical evidence provided and economic trends.

Should personal injury claims go to court, a forensic accountant will act as an expert witness and present their findings under cross examination. Their evidence can often be crucial in quantifying any damages that are awarded.

How We Can Act as a Personal Injury Expert Witness

Inquesta Forensic has decades of experience in acting as a personal injury expert witness, either as a representative of the claimant or defendant. We act on a single or joint basis to assess the value of the loss sustained by the claimant.

Once instructed on personal injury claims, we will carry out an in-depth review of any initial documentation, and issue a letter of advice that sets out our thoughts on the value of any losses incurred. Our next step is to provide the instructing solicitor with a fixed-fee quote to provide an expert report that quantifies the claimant’s losses.

Frequently Asked Questions

No, a forensic accountant will only act as an expert witness with a view to giving evidence in court. They will not act as a claims management company, nor manage a personal injury claim.

When calculating and quantifying damages relating to personal injury cases, there is a lot more than may initially meet the eye. With so many figures to take into account, only a specialist will have the in-depth level of knowledge and skill needed to obtain the best possible result for a client.

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