Forensic accountants (FA’s) all over Australia are contracted by clients to provide expert witness statements on particular matters. The APES 215 states that a forensic accountant: (APESB, 2019) : Has a duty to the court which overrides that of the client Provide expertise in an objective and unbiased manner Not to advocate for a party Therefore, an FA’s duty is to the court in providing evidence based on expertise in particular court matters and not determining an innocent or guilty verdict. The FA’s role is to investigate the quantification of loss or damages due to a guilty verdict. In most cases the investigation of damages is for their client, but in some matters, FA’s could be contracted to cross-examine work completed by another FA (such as in Labelmakers Group Pty Ltd v LL Force PtyLtd [2012] ). But how does a FA calculate the loss or damages for the successful plaintiff? Let’s say for instance a doctor is inappropriately performing their duty and knocks your new b
The role of the board of directors and CEO’s is to ensure the appropriate running and management of a corporation, while also protecting the interests of the shareholders. The Corporations Act 2001 s.769B determines that a director may be held personally liable for the conduct of employees. Even if the directors are unaware of any breaches, it is their role/duty to ensure that all members are compliant with the relevant laws and regulations. Similar to a parent-child relationship, for instance; a parent may not know their child was shoplifting, but will still have to face consequences of paying the fines, and having their parenting under fire. Hence, if the board and CEO are not fulfilling their duties appropriately, they are to be prosecuted as well, unless they can establish that they exercised due diligence. The Royal Commission into the banking and financial services sector found several crimes had been committed including; alleged bribery, forged documentation, charging the d