Investigative accounting

BRI Ferrier’s investigative accounting team undertakes detailed investigations, reviews and analysis that enable our clients to mitigate risks, protect assets, comply with regulations, make informed decisions and maximise opportunities.

Our investigative accounting services include:

  • Financial reviews. We conduct comprehensive financial reviews of businesses to enable more informed strategic decision-making and risk mitigation.
  • Transactional reviews and tracing. We help our clients to understand the asset pool of an individual or business. We analyse financial information, make independent enquiries and ascertain whether all assets have been disclosed. This enables us to determine the true size of the available asset pool from which recoveries can be claimed.
  • Workout solutions. We assist financially distressed businesses with strategic workout solutions, such as background operations reviews; assessments of policies, internal controls and adherence; financial structure assessments; business plan development; cash flow management plan development; strategy recommendations and implementation guidance.
  • Solvency reviews. We conduct solvency reviews on behalf of shareholders, directors or financiers concerned about the viability of a business. We consider the constraints on the business, future obligations and the implications of potential offences under the Corporations Act 2001.
  • Fraud detection and compliance reviews. In relation to fraud detection, we can gather and assess evidence, interview witnesses and key staff, identify losses and potential recoveries, liaise with legal advisors and regulators, and provide evidence. We can also assist with fraud prevention through risk management strategies.

 

CASE STUDIES

Infrastructure company

The NSW Government contracted a company to deliver a major infrastructure project. This required the company to draw down on a bank syndicate finance facility contracted years before and payable in 2018. Members of the banking syndicate suggested the company would be unable to refinance the facility in 2018 and was incurring a debt it could not repay. BRI Ferrier was engaged to review the claim and advise the company’s directors. Our intensive forensic work and subsequent updates gave the directors confidence to draw down on the finance facility and continue the project.

Drury unregistered managed investment scheme

BRI Ferrier’s appointment as receiver and liquidator of the Drury unregistered managed investment scheme involved tracing assets in Australia and Canada and extensive litigation. Assets were recovered and we obtained a criminal conviction against the perpetrator.

Property finance group

The board of one of New Zealand’s largest property finance groups appointed BRI Ferrier to prepare a special forensic report. This was in response to an investigation initiated by the New Zealand Securities Commission regarding alleged representations and disclosures made by the board to its investors. Following our investigation, the Commission decided not to proceed with criminal proceedings against the directors.

Concrete Constructions

One of the ‘big four’ retail banks appointed BRI Ferrier as one member of a team of investigative accountants to monitor the performance of Concrete Constructions, Australia’s second largest construction company. Over 18 months, our investigations resulted in an ownership change and recovery of the bank’s $300 million exposure.

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