Forensic accounting and investigations for a lawsuit raised against our client.
Our client (a leading construction company in KSA) required our services to investigate and prepare a report detailing the value of their actual liability in a lawsuit. The key objective was to calculate the correct liability figures to challenge the figure claimed by the plaintiff.
Work Conducted by our team included:
- Developed a forensic audit program covering all areas of the claim.
- Conducted forensic accounting on the company’s records to calculate the actual value of the claim.
- Prepared sensitivity analysis to accommodate for multiple scenarios claimed by the other party.
- Prepared an audit report supported with the appropriate evidence on the actual value of the claim.
- As a result of our work, the parties settled out of court and the claim was reduced by SR 120,000,000.
- During the course of our investigation, we identified multiple control weaknesses that were reported to management. Based on that information, the client’s management decided to take required remedial actions to mitigate identified weaknesses.