Assume a land development company hired an engineer and architecture firm to con

Question

Assume a land development company hired an engineer and architecture firm to conduct a feasibility study on a potential land purchase. The report indicated that the land was suitable for development. Later, zoning requests are denied and the land development firm sues the engineer and architecture firm for negligence, breach of contract, restitution, and reliance. A forensic accountant is hired to provide a valuation for losses and serve as an expert witness in court to support these findings. How would a forensic accountant demonstrate professional care, objectivity, and integrity in performance of the engagement? How might this impact the ability to obtain sufficient evidence or data to support his or her opinion?

Explanation / Answer

A forensic accountant is a veteran auditors and investigators of legal and financial documents that are hired to look into possible suspicions of fraudulent activities within an organization or are hired by an organization who want to halt fraudulent activities from happening. They are also hired to assist in professional negligence claims where they analyze the work done by other professionals.

In this case, a forensic accountant is hired to provide a valuation for losses of the land development firm and serve as an expert witness in court. He is hired to analyze the work done by engineer and architecture firm. The land development firm sues the engineer and architecture firm for negligence, breach of contract, restitution, and reliance. They provide quality services and fulfill their responsibilities with integrity, objectivity and with due professional care. They provide assistance in regulatory proceedings in relation with the resolution of disputes within the parties involved.

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.