Forensic & Expert Witness Community: 2024 round up

• Watch the webinar

During this webinar, we were joined by Steve Molloy, Director, Accuracy, Claire Morel de Westgaver, Director, International Arbitration, Bryan Cave Leighton Paisner and Harry Tick, Senior Manager, Forensic Services, FRP Advisory, who discussed how technology is reshaping forensic accounting, allowing for deeper investigations and strengthening financial crime detection.

During their presentations, our speakers covered:

• The law firm sector's current approach to technological advances such as AI
• The regulations governing the use of AI in arbitration dispute cases
• Utilising assisted review in practice
• Strategies to navigate legal, logistical and ethical challenges in accessing short message data, especially concerning private and personal information
• The implications of increased cloud service use on forensic investigations

• Watch the webinar

During this webinar, we were joined by Alexander Aronsohn, Director of Technical Standards – Tangible Assets, International Valuation Standards Council, provided a comprehensive overview of the latest updates and revisions to the International Valuation Standards (IVS). His breakdown included:

• IVS revisions:
  • A structure that better aligns with the valuation process
  • Additions and expansions to the requirements for: data and inputs, valuation models, quality controls and documentation to reflect the increased complexities of valuations
  • The requirements which have been moved between the General Standards and Asset Standards
  • Certain information that has been moved to Appendices to improve readability and to provide flexibility
  • Clarification of the roles and responsibilities of the parties involved in valuation, such as service organisations and specialists
  • The substantial revisions and enhancements to IVS 500 Financial Instruments
• IVS Enhancement Project considerations:
  • Ongoing changes in global markets and global valuation, including the increased use of technology and the abundance of available data sources
  • Increased use of specialists and service providers by valuers in the performance of valuations
  • Increased demand by stakeholders: financial institutions, investors and regulators
  • Additional demands on valuation professionals to address new types of assets or liabilities and to expand the application of valuations into areas such as environmental, social and governance (ESG)
  • Integration of the proposed new financial instruments content

The advisory group are pleased to announce that the annual conference will take place on Tuesday 12 November 2024.

The conference will cover a range of practical and technical issues so that you receive the latest sector specific insights, knowledge and thought leadership to ensure that you are up to date in your field and able to provide your clients with solutions to the challenges that arise in this ever-changing sector.

Members can visit the booking page here and view the event schedule here.

• Book now

As part of the activities to raise awareness of Global Ethics Day, ICAEW is holding an event on Wednesday 23 October to highlight the importance of ethical culture and governance. Sessions will include topics such as the link between ethics and economic crime, professional standards, modern slavery and an ethics-by-design approach to AI.

The advisory group would like to congratulate and welcome Phil Southall on his position as Vice Chair of the advisory group.

On his position as Vice Chair, Phil said: “I am delighted to have been appointed VC of the advisory group and even more so to be working alongside Laura as our fearless leader! It has been a great experience in watching her manage the group and is something which I hope to bring with me when I take over in June 2025."

“Phil is a great asset to the advisory group and has been invaluable in the planning of Community events, particularly our annual conference.” said Community chair Laura Dymott.

Finally, a massive congratulations to Laura Dymott, on becoming Partner at FRP Advisory.

Are you a professional working in the Forensic & Expert Witness sector? Shape the future of the profession by contributing your expertise to the ICAEW Forensic & Expert Witness advisory group.

If you feel this opportunity fits with you then please contact Samuel Edwards (samuel.edwards@icaew.com) for further information. Please note that there are limited spaces available.