FRP Advisory

The firm: FRP’s forensic services team is comprised of highly experienced forensic accounting, forensic technology and investigations professionals, providing incisive expertise across a multitude of situations, including commercial disputes, global asset tracing and recovery assignments, bribery and fraud investigations, judgment enforcement, competition damages claims, regulatory enquiries, freezing orders, divorce and contentious insolvency cases.

FRP’s partner-led teams deliver constructive, cost effective resolutions and leverage the accounting and technology elements of the forensic services team to work together seamlessly.

Types of work undertaken
Dispute services: The forensic services team has in-depth experience in many different forms of dispute resolution, including litigation, arbitration, mediation and expert determination. The firm’s partners have acted as a party appointed expert, single joint expert, expert determiner, shadow expert and adviser. They also have experience giving evidence in the High Court and international arbitration. FRP’s expert appointments include, for example, contentious valuations, reconstructing accounts and calculating lost profits in the context of shareholder disputes, unfair prejudice claims, contractual disputes, security for costs and claims under the Insolvency Act.

The team works across many industries on a wide range of disputes, including lost profits, breach of contract, wasted costs, professional negligence, business interruption, business expropriation, matrimonial and fraudulent misrepresentation. When a case requires a particular area of technical expertise, the team partners with external experts, such as competition economists in a cartel claim or financial services experts in a banking dispute. They can also draw on the expertise of FRP’s corporate finance team on contentious valuations and tap into the Eight International network if country-specific expertise and an international physical presence are needed.

Recent case experience includes acting as quantum expert on behalf of a listed Asian corporate defending a claim regarding loss of profits. Following submission of the expert reports and a joint statement of experts, FRP partner Chris Osborne was cross-examined in a LCIA tribunal.

Forensic investigations: FRP works with law firms, audit committees, regulatory and enforcement agencies (such as the SEC, DOJ, SFO and FCA) to determine the nature and extent of fraud, bribery, corruption and money laundering and explain complex issues. The team regularly leads on investigations including accounting fraud, insider dealing, misappropriation of client funds, employee fraud, boiler room fraud, invoicing fraud, bribery, corruption, and money laundering. They are also instructed on asset-tracing and recovery assignments in a variety of contexts including fraud, high value divorce, and insolvency matters. The Forensic Services team works extensively with FRP’s contentious insolvency team, assisting with investigations and potential claims.

Recent investigation experience includes an instruction to investigate allegations of bribery, corruption, money laundering and fraud on behalf of a nation state. The case involved a high-net-worth individual and his associates, including politically exposed persons across the Middle East. Other recent experience includes an investigation into suspicions of financial irregularities at a major charity, following the identification of discrepancies between its accounting records and a supplier ledger. The team identified three key methods used to fraudulently extract funds. The investigation report (including findings from the imaging of the suspect’s computer) was provided to the police to assist with criminal proceedings, with the perpetrator committed to prison for five years.

Forensic technology: The forensic technology team specialises in computer forensic and eDiscovery services. The team captures, processes, analyses and produces digital and digitised evidence in a manner which is admissible in Court or Tribunal and useable in the context of insolvency proceedings, regulatory enquiries, litigation, arbitration and the investigation of financial misconduct.

The team is experienced in all areas of the eDiscovery process, and regularly advises clients on best practices for identifying, preserving, collecting and producing electronic information, and on the latest developments in discovery rules. FRP’s specialists also develop eDiscovery project plans and negotiate best approaches and practices with clients.

Compliance and risk advisory: The forensic services team has experience in drafting and reviewing policies for compliance programmes including financial controls, bribery and corruption and anti-money laundering. They have worked with regulatory authorities and in-house compliance teams of corporates and banks to advise on risk related matters. Often we are instructed to review systems and controls as part of a fraud investigation. Recent experience includes providing control recommendations to the trustees of a charity to assist them to safeguard the assets of the charity, identify and manage risks and ensure high-quality financial reporting.