Professional Documents
Culture Documents
FORECAST
2015
Matt Fehon
Partner - McGrathNicol Forensic
E-Comms
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animped modis pa invenihil magnis evelest, voluptibea core.
Contract Assessment
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animped modis pa invenihil magnis evelest, voluptibea core sercien
delicitio.
Organisation cost consciousness will
continue to be the norm throughout
2015 with the focus on examining
contracts to reduce or recover costs.
Acting on this before litigation is the only
remedy is good contract governance
and the most likely to prevent losses.
Inherently managing contracts presents
a wide range of risks and issues, which
operationally can be difficult to manage.
Over the past five to 10 years many
of our clients have taken proactive
approaches to contract management,
whilst others are left dealing with
contractual disputes that may have
been avoided. Disputes regularly
concern matters such as claiming the
reimbursement of costs not permitted
in the contract, overcharging or
falsifying claims for hours and materials,
variations, duplication of charges,
claiming of overheads and in some
instances fraud, bribery or corruption.
Social Media
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animped modis pa invenihil magnis evelest, voluptibea core sercien
deliciti.
Social media is becoming an increasingly
valuable tool and rich source of
evidence. Information posted on
platforms such as Facebook, Twitter,
LinkedIn and Instagram can provide
invaluable data, including a users
location, time of activity, comments
and posts, photos, networks and profile
information.
With the increasing use of both social
media and cloud-based storage sites,
forensic technology faces a number of
challenges for organisations, including:
--security such as profile accounts that
have been set to private;
--no physical access to the data (stored
on centralised servers around the
globe);
--capturing social media for evidence;
and
--privacy laws.
Social media has become strong
circumstantial evidence in our
investigations into employee
misconduct. These include theft
of intellectual property, leakage of
Consulting Experts
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delicitio.
In recent years, commercial managers,
in-house legal counsel and their
external legal advisors have been
contributing to an increasing trend in
forensic accountants being engaged
as Consulting Experts. A Consulting
Expert is engaged as an advisor to
its client and advises outside of the
impartiality restrictions encountered by
independent expert witnesses. There
are a number of reasons why the use of
Consulting Experts is gaining traction in
Australia, for example:
For the Plaintiff:
--Assessing the possible financial
outcome of a complex claim.
--Assisting with framing the case.
--Identifying the financial information
required to support the case.
For the Defendant:
--Undertaking financial analysis at an
earlier stage of the litigation cycle can
provide a quick and high-level financial
appraisal and avoid costly surprises.
Regulatory Investigations
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delicitio.
Following a year of heavy vilification,
the Australian Securities and
Investment Commission (ASIC) has
signalled an upsurge in regulatory
investigations in a move to restore
trust and confidence in financial
advisers and to stamp out criticism of
the regulators responsiveness and
willingness to crack down on the big
end of town.
Several financial licensees have come
to ASICs attention for widespread
failures in their systems and controls.
ASICs industry report into life
insurance advice found more than
one third of the advice consumers
received failed to comply with the
laws relating to appropriate advice
and prioritising the needs of the
client. The report also found that
45% of advice failed when high
upfront commissions were taken,
compared with a 93% pass rate when
other forms of commissions were
used.
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