Firm Profile > FRP Advisory > London, England
FRP Advisory Offices
110 Cannon Street
FRP Advisory > Firm Profile
FRP’s Forensic Services team is comprised of highly experienced forensic accounting, forensic technology and investigations professionals, providing incisive expertise across a multitude of situations, including commercial disputes, global asset tracing and recovery assignments, bribery and fraud investigations, judgement enforcement, competition damages claims, regulatory enquiries, freezing orders, divorce and insolvency cases.
FRP’s partner-led teams deliver constructive resolutions and leverage the accounting and technology elements of the Forensic Services team to work together seamlessly.
Types of work undertaken:
The Forensic Services team has in-depth experience in many different forms of dispute resolution, including litigation, arbitration, mediation and expert determination. The firm’s partners have acted as a party appointed expert, single joint expert, expert determiner, shadow expert and adviser. They also have experience giving evidence in the High Court. FRP’s expert appointments include, for example, contentious valuations, reconstructing accounts and calculating lost profits in the context of shareholder disputes, unfair prejudice claims, contractual disputes, security for costs and claims under the Insolvency Act.
The team works across many industries on a wide range of disputes, including lost profits, breach of contract, wasted costs, professional negligence, business interruption, business expropriation, matrimonial and fraudulent misrepresentation. When a case requires a particular area of technical expertise, the team partners with external experts, such as competition economists in a cartel claim or financial services experts in a banking dispute. They can also draw on the expertise of FRP’s in-house corporate finance team on contentious valuations and tap into the PrimeGlobal network if country-specific expertise and an international physical presence are needed.
Recent case experience includes acting as quantum expert on behalf of a US-based manufacturer defending a claim regarding loss of profits. Following submission of the expert reports and a joint statement of experts, FRP Partner Chris Osborne was cross-examined in the High Court. The judge found in favour of the defendants on multiple issues, including in relation to the intercompany and quantum issues that the team identified.
FRP works with law firms, audit committees, regulatory and enforcement agencies (such as the SEC, DOJ, SFO and FCA) to determine the nature and extent of fraud, bribery, corruption and money laundering and explain complex issues. The team regularly leads on investigations including accounting fraud, insider dealing, misappropriation of client funds, employee fraud, boiler room fraud, invoicing fraud, bribery, corruption, and money laundering. They are also instructed on asset-tracing and recovery assignments in a variety of contexts including fraud, high value divorce, and insolvency matters. The Forensic Services team works extensively with FRP’s contentious insolvency experts, assisting with investigations and potential claims.
Recent investigation experience includes an instruction to investigate allegations of bribery, corruption, money laundering and fraud on behalf of a nation state. The case involved a high-net-worth individual and his associates, including politically exposed persons across the Middle East. Other recent experience includes an investigation into suspicions of financial irregularities at a major charity, following the identification of discrepancies between its accounting records and a supplier ledger. The team identified three key methods used to fraudulently extract funds. The investigation report (including findings from the imaging of the suspect’s computer) was provided to the police to assist with criminal proceedings, with the perpetrator committed to prison for five years.
The Forensic Technology team specialises in computer forensic and eDiscovery services. The team captures, processes, analyses and produces digital and digitised evidence in a manner which is admissible in Court or Tribunal and useable in the context of insolvency proceedings, regulatory enquiries, litigation, arbitration and the investigation of financial misconduct.
The team is experienced in all areas of the eDiscovery process, and regularly advises clients on best practices for identifying, preserving, collecting and producing electronic information, and on the latest developments in discovery rules. FRP’s specialists also develop eDiscovery project plans and negotiate best approaches and practices with clients. Recent cases include an eDiscovery matter where the team used FRP’s document review platform, Relativity, to reduce review time and save an estimated £1.25 million of potential review costs.
Compliance and Risk Advisory
The Forensic Services team has experience in drafting and reviewing policies for compliance programmes including financial controls, bribery and corruption and anti-money laundering. They have worked with regulatory authorities and in-house compliance teams of corporates and banks to advise on risk related matters. Recent experience includes providing control recommendations to the trustees of a charity to assist them to safeguard the assets of the charity, identify and manage risks and ensure high-quality financial reporting.
|Chris Osborne, Partnerfirstname.lastname@example.org||+44 (0)20 3005 4277|
|Nishad Morjaria, Partneremail@example.com||+44 (0)20 3005 4211|
|Karen Mura, Directorfirstname.lastname@example.org||+44 (0)20 3005 4139|
|Steven Bain, Directoremail@example.com||+44 (0)20 3005 4147|
Chris Osborne, PartnerChris Osborne, Partner in the Forensic Services team at FRP, explains how the firm’s tight-knit team delivers exceptional results for clients:
What do you see as the main points that differentiate FRP from your competitors?
At FRP, we’ve built an innovative and highly skilled forensic accounting department with particular strengths in insolvency, fraud and arbitration-related work. We’re known in the industry for having a tight–knit team with excellent judgement, enabling us to provide constructive resolutions for a wide-range of complex investigations and disputes.
We invest in attracting the best talent and upskilling our people to develop a team with a broad range of disciplines and skills. Our team consists of specialists in their field with decades of experience, from experts in international arbitration to forensic technology professionals. Having an approachable team allows us to build trusted relationships with our clients and external partners.
When complementary expertise is required for a case we can draw on the skill-set of other teams from across the firm, such as working with specialists from our corporate finance team for complex valuation matters.
Which practices do you see growing in the next 12 months? What are the drivers behind that?
An area we would expect to see more of a focus on is forensic technology. Several factors are driving this, including: the new disclosure protocols introduced in January 2019; an anticipated uptick in fraud investigations and contractual disputes emanating from the economic fallout from the pandemic; and a general increase in commercial disputes and significant competition and class action assignments. The skills of our forensic technologists are ever-more in demand.
Increasingly, companies are creating, sharing and storing vast amounts of data across a wide range of systems, and are looking to use cutting-edge technology to overcome new challenges. Lawyers are turning to us to deliver data collection and eDiscovery services, which typically involves significant amounts of complex data. Our experts undertake advanced analytics, language identification, concept searching, email threading, near text duplication and continuous active learning.
What’s the main change you’ve made in the firm that will benefit clients?
As we see a greater desire from clients for advice on more complex matters, we’ve strengthened our team by recruiting a broad range of talent from across the industry.
Our team has experienced a period of significant growth, expanding by more than 45 per cent in the last 12 months. We have made a number of strategic appointments and promotions in the last year and invested in upskilling our team. The result of this is that we have added to our ability to work on larger, more complex cases, such as international arbitrations, contentious valuations, competition matters and cases requiring analysis of large datasets, adding greater value for our clients.
Is technology changing the way you interact with your clients, and the services you can provide them?
We constantly review new technologies to make our work more efficient, cost-effective and enhance our client experience. As just one example of this in practice, our forensic technology team recently saved a client an estimated £1.25 million in document review costs. Our client was an international law firm that instructed us on a legal dispute based in a foreign jurisdiction. The firm’s client had around 1,000GB of email data and electronically stored files, that required processing, review and disclosure in a tight three-week turnaround. Our forensic technology team collected and processed close to three million documents for review in our document review platform, Relativity. Our team also used Continuous Active Learning (CAL) on the case, to continue to reduce the dataset and streamline the document review process.
As a result of this use of technology, the law firm completed the initial review in under a week, saving a significant sum in potential review costs.
Can you give us a practical example of how you have helped a client to add value to their business?
We have experience in many forms of dispute resolution including litigation, arbitration, mediation and expert determination. Our partners have acted as party appointed expert, single joint expert, expert determiner, shadow expert and adviser, and have experience of giving evidence in the High Court.
It’s this breadth of experience that adds value to our clients. One example is a recent case where I acted as a quantum expert on behalf of a US-based manufacturer defending a claim regarding loss of profits. Following submission of the expert reports and a joint statement of experts, I was cross-examined in the High Court. The judge found in favour of the defendants on multiple issues, including in relation to the intercompany and quantum issues, a significant result for our client.
As a team we have built this level of experience over many years, and it allows us to act on some of the most complex dispute cases requiring cross-examination in the High Court or Tribunals.
Are clients looking for stability and strategic direction from their professional advisers – where do you see the firm in three years’ time?
Clients are looking for strategic direction and stability from advisers, and our focus as a firm is to bolster our offering in response to continually increasing demand for our expertise and services.
FRP is a progressive firm. The benefit of being flexible and dynamic is that we can assist clients all over the UK and internationally. As a result, our strategic direction is to build our portfolio of dispute cases and complex investigations.
To meet this goal, we will continue to grow our headcount and invest to bring more talent on board. We also plan to retain our focus on developing the people within the forensic services department, so in the coming years our current team will progress and add additional experience to their skillset. In three years’ time we expect the number of experts in our team to have increased significantly.