Insolvency Litigation

We will need to be vigilant against potential fraud as post-pandemic liquidations and bankruptcies begin to rise. This article highlights some of the red flags that forensic accountants look out for that can indicate potential fraud in the insolvency process.

The Government furlough scheme ends on 30^th September and no indications have been given that it will be extended. Some argue that there is no need to do so if there are no restrictions on businesses operating normally. However, some predict an avalanche of liquidations and bankruptcies. How is it possible to determine if a business is in financial distress i.e. the business is unable to generate enough revenue or income to meet its financial obligations?