Partnership dispute in a farming business
Appointment Type: Single Joint Expert
Service Area: Loss of Profits
Industry: Agricultural farming fishing and forestry
Instructed as a single joint expert in a civil dispute between a number of parties regarding a jointly run farming partnership business.
The parties were disputing the accounting records maintained for the farming partnership over a period of 5 years.
The instructions to the expert witness were to review the accounting records provided for the partnership and determine the correctness or otherwise of the partnership accounting records. This required the expert witness to undertake a number of substantive tests to identify if the accounting records provided were an accurate and reliable record of the partnerships transactions when compared to the underlying invoices and bank statements.
The investigation work identified a number of errors in the accounting records that required correction. During the court proceedings it was concluded that the adjustments identified by the expert witness should be implemented in the new accounting records from which the distribution of profits would then be allocated to the respective parties.