We provide an accounting analysis that is appropriate to the legal community and the courts, in which we will form the foundation for discussion, debate and ultimately resolution of the dispute at hand.

It is often referred to as "Investigative Accounting" and is often associated with investigations of fraudulent matters. A typical forensic accounting assignment would be an investigation of a deliberate misstatement of the financial statements by management.

As forensic accountants, Forecs Inc. utilize accounting and investigative skills when conducting an investigation. Most critical is our ability to respond immediately and to communicate financial information clearly and concisely in a courtroom setting. We are skilled to look beyond the numbers and deal with the business reality of the situation. Our representation is professional and confidential and the client is kept up to date in all stages of the assignment. At all times, we maintain a high level of personal involvement by our partners in every engagement.

What we do

As forensic accountants, we are often retained to analyze, explain, summarize and present complicated financial and business related issues in a manner that is both understandable and properly supported.

Our forensic accountants provide the following expertise:

• Investigation and analysis of financial evidence;
• Development of computerized models to assist in the analysis and presentation of financial evidence;
• Communication of their findings in the form of reports, exhibits and collections of documents; and
• Assistance in legal proceedings, including testifying in court as an expert witness and preparing visual aids to support trial evidence.

As forensic accountants, we are well versed with legal concepts and procedures.

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Our leaders regularly act for claimants and defendants in the following matters:

• Loss of earnings claims and related benefits
• Loss of pension Benefits
• Loss of dependency
• Loss of profits from a business or partnership
• Preparation of schedules of damages

Recent personal injury assignments carried out by our team of experts have included:

• Assisting claimant solicitors in securing damages of $.50 million for a paraplegic victim.
• Achieved substantial increases in claims for loss of dependency by the correct application.
• Provided economic modeling and loss adjusting services on behalf of plaintiff lawyers for the resolution of claims filed by victims of fatal injuries suffered by child.

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We assist insured's, their legal representatives in the evaluation and valuation of insurance claims. We have been requested to prove, evaluate and analyze in the preparation of a variety of claims, including personal injury loss, fraud investigation, business valuation and business interruption. In many instances we have provided expert witness testimony. Our team have the skills to present information in an easy to understand presentation, based on facts.

What we do

We provide financial and economic analysis in support of counsel, with our work often resulting in written expert opinion or testimony. Our specific practice areas include: Complex Civil Litigation, Forensic Accounting and Fraud Investigations, Employment and Personal Injury Disputes, Real Estate and Construction, Intellectual Property Disputes, and Insurance Claims Services.

We also perform business and asset valuations in connection with various business conflicts, including marital dissolution matters and other disputes. Our professionals are also recognized and respected arbitrators, and have served in various court roles.

Forecs Inc. financial professionals provide a range of services both to defense and plaintiff attorneys. Our main services tackle what are often the most costly elements of loss: the loss of earnings or earnings capacity of an individual and the extra expenses associated with the loss incident. With educational backgrounds in accounting, auditing, business law, and finance, and professional backgrounds in loss adjusting, valuation and litigation. Forecs Inc. professionals are distinguished by a high level of expertise in the principles of economics and financial analysis.

A Sample of Representative Claims

Commercial Disputes: Our team has expertise in the investigation and resolution of all types of commercial disputes across a wide range of industries including:

• Business and share valuations
• Loss of profits and business interruptions
• Security for costs applications
• Purchase and sale disputes
• Expert determinations

Recent commercial dispute assignments carried out by members of our team have included:

• Assisting private business owners in the quantification of claims brought by businesses affected by the proposed City Of Toronto.

Bulldozing of a caused the loss of millions of dollars worth of damages. The lost value of the property and the measurement of loss related to business projects that were in negotiations and business interruption were documented in a claim. As financial consultants on behalf of counsel for the plaintiff’s attorneys, we conducted a critical analysis of the relevant heads of damages and the claimant's lost profit calculations and related documentation. It brought us on board based on our excellent track record, reputation as respected business valuators and familiarity with the construction industry. After assisting in the negotiations, the majority of the claim was paid.

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Our leaders have experience in the following areas of matrimonial litigation:

• Asset valuation
• Evaluation of financial standing
• Division of earnings and pension benefits
• Valuation of business and unquoted shares

Recent assignments have included:

• Reporting as expert accountants to the husband of a successful computer business. Investigated the wife's employment benefits and produced detailed reports for immediate settlement.
• Providing detailed questionnaires for the purpose of identifying assets, liabilities, income and expenditure.
• Preparation of share valuations of family companies in a matrimonial context.

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The expropriation laws of Canada and provinces and other jurisdictions provide compensation to businesses operating on property which is expropriated. We are able to assist claimants and expropriation authorities in determining the following:

• Damages attributable to disturbance
• Injurious affection
• Special difficulties/costs in relocation
• Cost of finding alternative premises
• Mitigation of loss
• Termination allowances.

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We have extensive experience in the valuation of most types of businesses. We are called upon for independent valuation opinions for many different purposed, including:

• Ontario and other Security Commissions' valuations
• Matrimonial disputes
• Shareholder disputes
• Tax and Estate planning
• Financing
• Buy-Sell agreements
• Wrongful seizure
• Feasibility studies

We are often asked to consult on matters that relate to the purchase and sale of a business.

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We are experienced with insurance coverage dealing with business interruption and inventory loss. We reconcile the terms of coverage with the business facts of the situation and present our finding in a manner acceptable to the business/industry and as required by a court of law

Our professional qualifications, business experience and dedication enable us to respond quickly and effectively to the demanding requirements of the legal process.

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We have the capacity and extensive experience to act as arbitrators in most types of financial disputes, particularly those related to business quantum and family law matters, income tax and insurance matters.

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Our skilled technicians devise innovative strategies to prevent and detect fraud within businesses. We are experienced in investigating:

• Theft allegations
• Fraud and conspiracy
• False prospectus
• Computer fraud
• A number of special investigations into allegations of malpractice by senior managers in a range of public sector organizations.

Recent examples of assignments carried out by our firm have included:

• A number of criminal litigation cases involving fraud, misuse of company funds, fraudulent and false accounting practices on behalf of stockholders.

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Our team routinely works on behalf of claimants and defendants in many different types of insurance matters:

• Assessment of damages of claims
• Investigating fraudulent claims
• Investigating loss of profits due to suspected fire
• Investigating loss of profits due to natural disasters

Recent cases worked on have included:

• Summarizing damages for a million dollar claim for loss of profits, brought by a company, after an explosion and fire on their premises.

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Our team has undertaken a significant number of share valuations for purchasers and vendors of private companies as well as situations where disputes have arisen:

• Share valuations and investigations of misfeasance by directors/ shareholders/ partners.
• Investigation of divisional profits.

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Services begin by scheduling an appointment for the purpose of conducting a financial assessment, an income to expense comparison, and identification of both short and long term goals. Spending plans (or more commonly known as budgets) can be newly developed or an existing budget can be evaluated for effective use of income. Resource and referral sources may be identified and provided, or assistance in establishing a savings, which meets an individual needs. Client’s may also desire guidance and information on preparation for major purchases such as a home or automobile; goal setting, credit worthiness & reporting bureaus, future relocation expenses, or any other situation which could impact family finances.

What we do

We can assist you with reaching all of your financial objectives. The first step is to develop a detail financial plan based on individual needs and requirements. Financial setbacks can occur when you least expect it, and sometime you may not be able to face the challenge by yourself. We work around you to get you back on your feet:

• Analyze your current financial position
• Determine your short and long term needs
• Re-establish credit
• Establish a customized spending plan
• Develop strategies to help you work toward achieving your financial goals

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