Introduction: Why a rapid forensic analysis can be decisive
Whether a business partner is facing insolvency, financial circumstances are unclear or there is a suspicion of economic irregularities – in many situations, one thing matters above all else: time. Those who wait too long risk losing receivables, making poor strategic decisions or missing important procedural deadlines. This is exactly where the Forensic Quick Check offered by the law firm KINDL.trusted comes in.
In this article, you will learn what a Forensic Quick Check is, how it works, who it is suitable for and why it is a cost- and time-efficient alternative to extensive forensic expert reports. All information is based on the proven methodology of KINDL.trusted – a Vienna-based firm that combines criminal law, tax law, accounting and business administration under one roof.
What is a Forensic Quick Check?
A Forensic Quick Check is an efficient forensic accounting analysis carried out within a short time on the basis of publicly available data and/or documents provided. Unlike a full due diligence or a court-appointed expert opinion, the Quick Check focuses on a rapid yet methodologically sound initial assessment. The aim is to deliver (robust) results within a few days that serve as a basis for further decisions and measures.
The Forensic Quick Check combines expert-level forensic methodology with a pragmatic approach. The analysis covers a broad range of economic issues – from the asset and earnings position and the liquidity situation through to the assessment of insolvency (inability to pay).
Which areas does the Forensic Quick Check cover?
The KINDL.trusted Forensic Quick Check covers the following service areas:
- Asset analysis: Systematic examination of a company’s assets and liabilities – from real estate and equity interests through to liabilities.
- Earnings position: Analysis of the profit and loss statement and key business ratios to assess economic performance.
- Liquidity analysis: Examination of cash flow and working capital to assess the company’s short-term ability to pay.
- Assessment of inability to pay: Comparison of available liquid funds and debts due.
- Shareholder structure: Analysis of shareholdings, interconnections and beneficial owners.
- Insolvency proceedings: Review of the current status of proceedings based on the Ediktsdatei (Austrian insolvency database) and other public sources.
This broad coverage makes the Forensic Quick Check a versatile tool in the field of forensic accounting – both for preventive purposes and in acute crisis situations.
Which data sources are used for the Forensic Quick Check?
The quality of a forensic analysis stands or falls with the underlying data. Depending on the engagement, the Forensic Quick Check draws on two categories of sources:
Publicly available data sources
Meaningful initial assessments can already be made on the basis of publicly available information. KINDL.trusted draws on the following sources, among others:
- (Historical) extract from the Austrian Commercial Register (Firmenbuch)
- (Historical) extract from the Austrian Land Register (Grundbuch)
- Ediktsdatei (Austrian insolvency database)
- Published annual financial statements
- Transparency Portal (Transparenzportal)
- KSV Kompass services
Privately provided documents
If internal documents are also provided, the analysis can be taken considerably further. These include, for example:
- Interim bookkeeping records and trial balances
- Annual financial statements (including unpublished ones)
- Audit reports of the statutory auditor
- Documents from the ÖGK (Austrian Health Insurance Fund), BUAK (Construction Workers’ Holiday and Severance Pay Fund) and the tax office
- Extracts from the register of lawsuits and enforcement proceedings
Combining both categories of sources enables a particularly nuanced analysis that goes far beyond merely looking at the balance sheet.
Who is the Forensic Quick Check suitable for?
The Forensic Quick Check is aimed at a wide range of target groups who need a well-founded economic assessment quickly:
- Creditors: To secure receivables and to assess the prospects of recovery at an early stage, e.g. where asset shifting is suspected.
- Insolvency administrators: For an initial assessment of the point in time at which inability to pay and over-indebtedness occurred – key issues in insolvency avoidance claims.
- Business partners: To assess default risk, particularly where a contractual partner is facing insolvency.
- Investors: For a rapid risk assessment ahead of investment decisions or corporate transactions.
- Attorneys: To support the defence in criminal cases or for the preparation of criminal complaints and statements of claim.
Whether you are an attorney seeking to substantiate a criminal complaint, an insolvency administrator needing to determine when inability to pay occurred, or a creditor wishing to secure your receivables – the Forensic Quick Check provides the facts you need.
How does a Forensic Quick Check work?
The Forensic Quick Check follows a clearly structured four-step process that ensures transparency and efficiency:
Step 1: Defining the scope of the engagement and providing documents
At the outset, the specific scope of the analysis is defined together with the client. Which questions are the focus? Which documents can be provided? These preliminary discussions ensure that the Quick Check is carried out in a targeted and efficient manner.
Step 2: Data collection and review
In the second step, publicly available data is collected – from the Commercial Register, the Land Register, the Ediktsdatei and other sources. At the same time, privately provided documents are reviewed and systematically processed.
Step 3: Analysis, evaluation and reporting
The actual forensic analysis is then carried out on the basis of the data collected. The results are summarised in a memo, a statement, a report or an expert opinion – depending on the requirements and intended use.
Step 4: Clarification of open points and recommendations for action
Finally, any open questions are clarified with the client. The deliverable comprises a final copy of the memo as well as specific recommendations for the next steps.
What specific benefits does the Forensic Quick Check offer?
The KINDL.trusted Forensic Quick Check is characterised by four key advantages that set it apart from conventional forensic analyses:
- Speed: Results are usually available within 3 to 10 days. This makes the Quick Check ideal for time-critical situations – such as ongoing insolvency proceedings, impending limitation periods or upcoming investment decisions.
- Cost efficiency: Through the targeted use of various data sources and a focus on the key issues, the effort remains manageable – while still providing highly meaningful results.
- Well-founded initial assessment: The Quick Check is based on expert-level forensic methodology. The analysis is carried out by experienced expert witnesses and experienced business economists.
- Basis for decision-making: The results provide a solid basis for further steps and strategic planning – whether for an in-depth analysis, enforcement of claims in court or an out-of-court settlement.
What happens after the Forensic Quick Check?
The Forensic Quick Check is designed as phase 1 of a multi-stage analysis process. It provides a well-founded initial assessment, including identified risks and specific recommendations for action.
Should it become apparent that a more in-depth forensic analysis is required, a comprehensive investigation can be carried out in phase 2. This includes the analysis of detailed annual financial statements, financial accounting records, trial balances and open item lists as well as relevant contracts. The Quick Check thus forms the ideal basis for managing the need for further measures in a targeted and cost-efficient manner.
Why should you engage KINDL.trusted for the Forensic Quick Check?
KINDL.trusted is a specialised firm based in Vienna that combines criminal law, tax law, accounting and business administration in three synergistic service areas: criminal defence lawyers, tax advisors and attorneys, as well as expert witnesses and business economists.
In concrete terms, this means that law, tax and corporate accounting law (UGB) sit at one table at KINDL.trusted. There are no losses at interfaces, no information gaps and no time-consuming coordination between different firms. This interdisciplinary collaboration is a key advantage – particularly for complex forensic accounting issues that touch on several areas of law.
Another hallmark of quality: at KINDL.trusted, your matter is handled by the expert, not by a junior who is still getting up to speed. In addition, with its “KINDL for EXPERTS” programme, the firm offers collegial support on an equal footing – including for other professionals such as attorneys, insolvency administrators, tax advisors and auditors.
Conclusion: Forensic clarity in the shortest possible time
The KINDL.trusted Forensic Quick Check offers a unique combination of speed, cost efficiency and forensic expertise. Whether as a basis for strategic decisions, to secure receivables or in preparation for court proceedings – the Quick Check delivers robust, expert-level results within 3 to 10 days.
If you need a rapid, well-founded assessment of an economic matter, the experts at KINDL.trusted will be happy to assist you.
Contact
Contact us for a free initial consultation:
Marlis Wenninger
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