Expert witnesses face new guidance
Forensic accountants who act as expert witnesses will have to abide by a new code of guidance launched this week, or have their evidence will be excluded.
Forensic accountants who act as expert witnesses will have to abide by a new code of guidance launched this week, or have their evidence will be excluded.
After months of wrangling the Expert Witness Institute and the Academy of Experts have drawn up a new code that will have significant implications for costs, and if not complied with accountants’ evidence could be barred.
Of the new code Lord Phillips, the Master of the Rolls, said: ‘Experts who do not comply with the Code of Guidance might find there are implications for costs and it might result in their evidence being excluded.’
The code now clearly states that contingency payments must not be offered or accepted. Some solicitors and experts have previously accepted these payments.
Lawyers and experts must now co-operate over the agenda of discussions between experts. Concerns were growing over the ‘fine line’ between co-operation and pressure.
Mark Solon, founding director of Bond Solon Training, a witness training centre, said: ‘Experts will be delighted that the EWI and the Academy have at last got their acts together. Experts have been working in a vacuum for too long. We have already set up training programmes for all experts to get up to speed on the Code.’
Links
Question mark hangs over ‘independence’
The numbers you crunch tell a story. Your expertis...
22yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThree years after accountancy group DJH Mitten Clarke launched, they have announced that they have rebranded to DJH. The DJH Mitten Clarke name reflec...
View articleStatic budgets outdated. Embrace agile budgeting for a smooth year-end close and adapt to changing markets. Read More...
View articleSaffery Champness's strategic rebrand to "Saffery" reflects a bold step towards aligning its historic values with a modern, innovative ethos, fosterin...
View articleSumer’s CEO Warren Mead believes accountants have a responsibility to champion smaller and medium-sized businesses and that successful entrepreneurs a...
View articleMid-market firms experience largest percentage increase in fee income in 2023, as consultancy services start to become leading income streams for the ...
View articleBaker Tilly International has today announced record global revenues of US$5.2bn for the financial year ended 31 December 2023, up 11% on the previous...
View articleWhilst Small and Medium Enterprises (SMEs) account for around half of the turnover in the UK private sector[1], our own AAT research shows that over a...
View articleGrant Thornton UK as confirmed the appointment of Malcolm Gomersall as its new Chief Executive Officer. Gomersall, who has been with the firm for over...
View article