An explanation of how forensic accountants are instructed in financial remedy procedures, followed by an examination of the rules governing their instruction imposed by Part 25 of the Family Procedure Rules 2010
Family lawyer, Jane Tenquist, explained the requirements set out by Part 25 of the Family Procedure Rules (FPR) 2010 regarding the appointment of forensic accountants as expert witnesses in financial remedy cases.
She emphasised the importance of carefully considering the scope of instructions sent to a Single Joint Expert Forensic Accountant and how shadow accountants can assist clients in preparing Forms E and formulating appropriate questions to the Single Joint Expert.
Jane also set out the steps to be taken if parties cannot reach an agreement on valuation.
Unravelling the Information Request Process:
Andrew Donaldson, National Head of Forensic Accounting at Dains, shed light on the typical "Information Request" that an expert would send out to instructing solicitors during the valuation process.
He explained the rationale behind seeking specific information in order to assist solicitors in understanding their context.
Interactive Session: Sharing Challenges and Experiences:
The latter part of the webinar was dedicated to an interactive session where attendees had the opportunity to share their current challenges, experiences, and insights related to expert valuations in family law.
Through a 'questions through the chair' format, participants were able to seek expert guidance on technical points, discuss interesting cases, and exchange valuable anecdotes.
This collaborative session fostered knowledge-sharing and provided a platform for professionals to address common challenges faced in their practice.
To summarise the event:
Family law cases often require the expertise of professionals well-versed in both legal and financial matters.
The event, organised by the UK200, brought together Jane Tenquist and Andrew Donaldson to provide valuable insights into the role of expert valuations in family law proceedings.
Attendees gained a comprehensive understanding of the FPR requirements for experts and the information requested during the valuation process.
By sharing challenges and experiences, professionals in the field had the opportunity to learn from each other and enhance their expertise.
To watch the video from the UK200 Group, visit their YouTube page here.
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