Developments in Forensic Accounting in the Isle of Man

Article by Paul Seaward FCA, Director, PKF (Isle of Man) LLC

Offshore jurisdictions such as the Isle of Man are often used by wealthy families and international companies to mitigate their tax exposure and as a consequence company and trust structures are formed to own and manage assets in various jurisdictions. By far the majority of such arrangements proceed to the reasonable satisfaction of all the parties. Unfortunately, in life people fall out or are, or come to believe that they have been, badly advised, misled or cheated by people they do business with or employ. Very often the dispute has an accounting dimension, and forensic accountants have been used for many years to assist with financial investigations, help resolve disputes and act as expert witnesses.