Professional Services
FRP Advisory
Full Credential Description
In a recent case, we was engaged as an independent forensic accounting expert by solicitors representing a London property investor involved in a dispute with a family member and their property management company. The core issue revolved around allegations of mismanagement of investment properties and underpayment of rental income. The client sought to determine whether the management company had accurately collected and recorded rental income as per tenancy contracts, whether any of that income had been misappropriated, and the verifiability of management fees charged.
To address these concerns, we’s Forensic Services team meticulously reviewed a range of documents provided by both parties, including property rental statements, disbursement invoices, and bank statements. They converted these documents into a more analyzable format and conducted a thorough comparison of the recorded rental income against expected amounts and the defendants’ bank statements. The team also scrutinized disbursements from the gross rental income, identifying any unusual transactions, and analyzed the claimants’ bank statements to pinpoint any shortfalls in rental income.
Within three weeks of their engagement, we produced a draft expert report that summarized the income and expenses related to the properties in a clear and accessible format. This report highlighted inconsistencies and gaps in the information provided by the management company. The client utilized sections of this report during mediation, which ultimately facilitated an agreement between the parties, allowing them to settle the dispute without resorting to court proceedings. This outcome not only saved time and legal costs but also provided a clear resolution to the client’s concerns regarding the management of their investment properties.