Investigating accountant reports
McDonald Vague has substantial expertise in preparing reports for banks and other lenders on the financial affairs of companies, and providing possible restructuring proposals. On many occasions our recommendations are not for a formal insolvency procedure. Instead, they may be for a programme involving asset sales or refinancing, together with ongoing monitoring. This work is by its nature confidential and therefore not widely known about. We have assisted behind the scenes in numerous situations where a formal insolvency has been avoided.
Forensic accounting involves finding anomalies as well as tracking and preparing evidence of possible misdeeds or misrepresentations.
McDonald Vague has a great deal of experience in this field, and has a number of highly experienced investigators in its team. These include a former Serious Fraud Office investigator. Over the course of literally thousands of liquidations and other assignments we have developed valuable skills in critically reviewing accounting records to determine whether they accurately reflect the full state of a company's affairs.
We are frequently able to identify assets or claims which are not recorded in a company's accounts and which the directors are either unaware of, or choose not to disclose. These include overdrawn shareholder current accounts, voidable preferences, insolvent set-offs, voidable charges, uninvoiced transactions, sales at undervalue, theft, misappropriation of assets and fraud. Recoveries can also arise from items such as bonds paid but not reclaimed, and GST reclaims.
Forensic and investigative accounting forms a major part of our daily work on liquidations and receiverships. We are also able to apply the same skills on stand-alone assignments, for clients who need an independent investigator to review a company's affairs and records. We recognise the need for discretion and confidentiality in conducting such assignments.
If you believe McDonald Vague may be able to assist you in either of these areas, please contact us for more information or visit our staff profile page for direct contact details of our Directors. All such discussions are treated confidentially.
See also our article on how liquidators use forensic accounting skills.