Forensic Accounting

Not all future costs in a personal injury claim arise weekly. One-off future expenses like surgery, equipment replacement, and home modifications require a deferred lump sum calculation — and the method is different from the approach used for ongoing losses.

Economic loss in NSW personal injury matters is calculated on a net wage basis, after income tax. Getting the net figure right requires applying the correct tax rates for each financial year — and since those rates changed in 2024, outdated tables will produce incorrect results.

When a person dies due to another party's negligence, their dependants may be entitled to compensation for the financial loss they have suffered. Quantifying that loss requires a specific forensic methodology that goes well beyond a straightforward income calculation.

Incomplete financial information is one of the most common causes of delay in economic loss assessments. Understanding what a forensic accountant needs — and why — helps legal teams and their clients prepare more efficiently from the outset.

Inflation affects how past losses are measured, how statutory amounts are updated, and how future losses are projected. Getting indexation right is not a minor detail — in long-running matters, it can make a meaningful difference to the final damages figure.