Who is the forensic accountant
The forensic accountant knows how the Court. He is also an expert in the civil procedure and the criminal procedure. In fact, it is a highly specialised professional profile that lies somewhere between a lawyer and a chartered accountant. It is therefore a very important figure for a good civil and criminal defence.
Specifically, on behalf of credit institutions, companies and often on behalf of the Court itself, it is engaged in accounting reconstructions. These legal entities require expert opinions for the resolution of bank disputes concerning anatocism and usury, fraud and other cases involving in-depth knowledge of accounting.
The forensic accountant, as such, is charged with translating mathematical and accounting concepts on behalf of third parties.
Lo Studio Cappuccio is a study of Chartered Accountants and Auditors in Rome.
Areas of competence of the forensic accountant
In civil trialThe assignment is mainly in the following subjects, and in particular
- divorces;
- condominium;
- finance ( Anatocism in mortgages and in the current accounts. Causes in derivatives);
- public administration ;
- work and welfare;
- betting and issues related to so-called 'betting'.
In criminal trial comes into play mainly in the following subjects, and in particular:
- bankruptcy (simple, fraudulent, documentary, preferential bankruptcy);
- false accounting;
- taxation and declarations;
- criminal and banking usury;
- fraud;
- embezzlement;
- judicial administrations.
The distinctive qualities of a good forensic accountant are the punctuality in the delivery of expert reports, especially when they are requested by a judicial body. Of fundamental importance is then the precision of the papers. Finally, good conservation of the documentation which is provided to support the analysis.
Completing the orthodox profile of the forensic auditor/commercial accountant is the objectivity of analysis, which must always reflect the reality of the facts. In fact, the professional must not be influenced or flawed, thanks to meticulous technical preparation and the continuous professional updating.
Each of these items will be analysed individually with typical examples.
Main areas of intervention in the civil process
Divorce or separation by mutual consent
forensic accountant reconstructs the contributions of the members of the couple
When a couple divorce it is necessary to carry out a reconstruction of contributions made by each for the management of the family menage. The forensic accountant will then carry out an analysis of all available accounting documentation (bank statements, transfers, etc.) and ascertain what each spouse has contributed. This identified sum will then be used to negotiate the terms of the separation.
Condominium
the forensic accountant has the task of reconstructing condominium payments and payments made by the administrator
It often happens that financial disputes arise within a condominium between the administrator and the condominium owners. In fact, it may happen that the fees awarded do not correspond to what is stated in the condominium balance sheet or vice versa that the administrator requests sums from the condominium. The forensic accountant will calculate these payments and compare them with the accounting records in order to identify who owes what to whom.
Finance and banking
usury check, anatocism, derivatives, bonds, shares
The contracts of current account, of mortgage and contracts derivatives may present criticalities (usury pursuant to Article 644 of the Code of Criminal Procedure and Law 108/96, bank anatocism in current accounts and in loans with French-style amortisation, nullity of the loan contract due to criticalities regarding transparency and unclear contractual conditions, calculation of the Bank of Italy's TEG, verification of the APR actually applied). Cappuccio's firm has been dealing with this subject for many years, drawing up numerous econometric expert reports and recalculating the interest on numerous null and void or ex art. 117 TUB relationships. The aim of the forensic accountant will be to carry out analyses concerning usury, anatocism, and contractual transparency on the basis of the regulations and the numerous case law on the subject. For example, astaldi shares, mps shares, carine shares, monte dei paschi di siena shares, astaldi bonds, lehman brothers.
Public administration
verification of public administration funding
It can often happen that contributions made by the public administration following calls for tenders and funding are not in line with what was agreed. The aim of the forensic accountant will be to reconstruct what happened on the basis of contracts and accounting documentation in a language that can be understood by lawyers.
Work and welfare
verification of the correct payment of pensions and other emoluments
Often contributions are made by the pension institution that do not correspond to what is actually due. It is the task of the forensic accountant to verify the correctness of the calculations made by the pension institutions on the basis of the applicable regulations and to make these results easily understandable even for lawyers.
Betting and betting
the accountant shall verify the correctness of the bets and payments made
It often happens that betting companies with large winnings do not comply with the regulations and do not pay the customer. It is therefore the forensic accountant's aim to understand how much is owed on the basis of the printouts held by public authorities and betting companies.
Main areas of intervention in the criminal process
- bankruptcy (simple, fraudulent, documentary, preferential bankruptcy);
- false accounting;
- taxation and declarations;
- criminal and banking usury;
- judicial administrations.
Bankruptcy offences
The accountant is often asked to reconstruct the movements made by the company's directors OR shareholders in order to verify whether a preferential payment was made to shareholders or third parties that led to the company's bankruptcy.
False accounting
It is often required to check whether the data in the balance sheet correspond to the accounting entries. It is the task of the forensic accountant to import all entries into a management system and cross-check that they correspond to the entries in the balance sheet and tax returns.
Taxation and tax returns
It is often required to check whether income and VAT declarations have been correctly prepared by the person concerned. The forensic accountant's task will be to reconstruct the company accounts in their entirety and check whether the declarations are correct.
Criminal and banking usury
Article 644 of the criminal code regulates the offence of usury. The relations between the loan shark and the client. In several cases, this regulation has also been extended to banking relationships, so the accountant is asked to apply the formulas provided for in the regulation to verify whether or not the rates are usurious.
Judicial administrations
Forensic accountants are often appointed as administrators of assets seized from the mafia or from entrepreneurs who have engaged in conduct involving the confiscation of assets. The task of the forensic accountant is to manage the companies and assets during the period of seizure and to report to the court on their management consistently and accurately.
