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ECONOMIC ASSESSMENT

Accountants' reports are dry and boring documents full of tables of numbers that no-one but another accountant can understand, right? Not any more.

Over the years, our Forensic Accounting team has developed a highly sophisticated computer programme designed to do two things:

Automate as many calculations as possible to save time and costs to
claimants
Set out reports in a way that is easy to read and understand

The result is a distinctive, narrative style of reporting that is designed to be read through by non-accountants. As one client remarked, "even a Judge should be happy to read this".

Most Economic Assessments in personal injury relate to wage and salary earners and cover:

Past loss of earnings
Interest on past loss
Loss of earning capacity
Superannuation

We recommend that Economic Assessments be supported by a Worklife Assessment; otherwise the Economic Assessment must be limited to pre-injury earning capacity, leaving the practictioner to negotiate a vague and unsatisfactory "cushion" against future loss of employment.

More complex matters
Establishing the earnings pre- and post-injury for tradespeople, professionals, business owners, self-employed or farming enterprises can represent quite complex accounting challenges. Where required, EVIDEX Forensic Accountants will reconstruct business accounts from incomplete records, arrive at sensible business valuations or place a value on future activities, crops, livestock and the like.

The great breadth of experience found among the team means that few situations are unfamiliar to us. The same narrative style of reporting is employed.

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