As the Work and Pensions Secretary Iain Duncan Smith urges the Chancellor George Osborne to introduce a tax break for married couples in the next budget, some female breadwinners have been left feeling aggrieved by their divorce settlement, highlighting the importance of the role of forensic accountants to find value assets so they can be divided fairly.
A recent study has estimated that there are now 2.7 million households in the UK in which the women are paid more than the men, which is a fivefold increase in the space of a generation.
Regardless of the gender of the breadwinner, it can often be worth engaging the services of a forensic accountant to put an actual and true value on assets and to ensure that ‘the other side’ is giving a full, frank and, most importantly, accurate disclosure of their financial position.
A forensic accountant can spot inconsistencies in a financial disclosure form that a layperson, particularly one who is emotionally involved in the whole divorce process, might easily overlook and can then start examining supporting documentation to find the correct figures.
Using a combination of accounting, investigative and legal experience, the forensic accountant can then provide an accounting analysis that is acceptable in a court and which can form the basis for negotiation if one of the parties feels that their spouse is either overstating liabilities or trying to hide money.
As an accountant; Roger Isaacs specialises within business turnaround and business valuation.