Forensic accounting with evidence preferred at trial and affirmed on appeal.
VALLARIS™ traces funds, reconstructs accounts, investigates transactions and gives expert evidence in the Singapore courts and in arbitration, for lawyers, boards and shareholders.
What is forensic accounting?
Forensic accounting applies accounting and investigation to a legal question: tracing funds, testing transactions, reconstructing accounts and measuring loss, to a standard that stands up in court or arbitration. A forensic accountant appointed as an expert owes an overriding duty to the court or tribunal, not to the party that instructs them, which is what gives the evidence its weight.
The moments this work is for.
A number in the accounts needs explaining
You want the facts established quickly and quietly, before deciding what to do.
A dispute is heading to court or arbitration
Your lawyers need an expert whose report and testimony the tribunal will rely on.
A partnership or shareholder dispute
The accounts of the business need to be taken, and the numbers agreed or decided.
The work, and what it delivers.
- InvestigationTransactions tested, funds traced and the facts set out.
- An expert reportIndependent, reasoned and written for the court or tribunal.
- Review of the other sideA critique of the opposing expert’s report.
- TestimonyEvidence given in person and under cross-examination.
Four steps, one adviser.
- InstructionUsually through your lawyers, to protect privilege.
- InvestigateDocuments, data and interviews.
- ReportAn independent expert report that answers the questions put.
- TestifyJoint expert meetings, hearings and cross-examination.
A named signature behind every number.
My forensic-accounting evidence was preferred at first instance in the High Court and affirmed on appeal, in [2020] SGHC 159 and [2022] SGCA 47. I write every report expecting to defend it under cross-examination.
Siong Yoong
About VALLARIS™ →
Tested under cross-examination. Preferred at first instance, and affirmed on appeal.
His forensic-accounting evidence, in the judges’ own words, from the published judgments.
Forensic accounting, a partnership dispute.
“There was nothing new adduced from Mun during his cross-examination that altered what was stated in Mun’s report.”
“…the court is of the view that’s (sic) Mun testimony and expert reports are to be preferred. Mun offered a more objective and balanced analysis…”
The same matter, on appeal.
“We agree with the Judge that Mun’s evidence should be preferred. Mun’s evidence was more credible and objective, and the conclusions he reached were well-reasoned and supported by the evidence.”
Fellow, Asia Pacific Institute of Experts.
FAPIEx. Admission requires prior oral expert evidence in court or arbitration. Registered expertise includes forensic accounting and economic damages.
Reports submitted to the Singapore International Arbitration Centre, the Supreme Court and the Family Justice Courts of Singapore.
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Thirty minutes, confidential, and no fee for the first conversation.
What clients ask about forensic accounting.
When should I engage a forensic accountant?
As soon as you suspect a financial irregularity, or when a dispute will turn on financial evidence. Early engagement, usually through your lawyers, protects privilege and preserves evidence.
How is forensic accounting different from an audit?
An audit gives an opinion on whether financial statements are fairly presented, on a sample basis. Forensic accounting investigates specific questions in depth, to an evidential standard, for use in legal proceedings or decisions.
What does an expert witness do?
An expert witness gives independent opinion evidence to help the court or tribunal on matters outside its expertise, in a written report and in oral testimony, and owes an overriding duty to the court.
Do you give evidence in arbitration?
Yes. Siong Yoong’s reports have been submitted to the Singapore International Arbitration Centre as well as the Supreme Court and the Family Justice Courts of Singapore.
Can you review the other side’s expert report?
Yes. A critique of the opposing expert’s methods, data and assumptions often narrows the issues before the hearing.
Often needed together.
Economic damages and loss quantification
Economic damages are the financial loss caused by a breach of contract, a tort, a shareholder dispute or an IP infringement.
Financial due diligence
Financial due diligence is an independent review of a company’s financial position before a deal.
Business valuation
A business valuation sets what a company is worth, on a stated basis of value and at a stated date.