Addressing financial misconduct from your business partner

Having a business partner on your side who shares your vision and goals for your company can be extremely beneficial. You also need a business partner who you can trust, particularly with the company’s reputation and with money.

Unfortunately, some business partnerships don’t work out, and financial misconduct is at the heart of many partnership disputes. If your business partner has been acting suspiciously concerning the company’s money, what can you do about it and who can assist you with your case?

Examples of financial misconduct

There are numerous ways that a company’s finances may be misappropriated. One common example of financial misconduct at the hands of a business partner includes siphoning money out of business accounts for personal gain.

If your partner becomes withdrawn or defensive when you ask them about the company’s accounts, this could be a sign that something is amiss. Have they recently purchased a luxury vehicle or lavish new home? Where did that money come from?

How a forensic accountant can help you

If you suspect financial misconduct, you may have to pursue a legal case against your partner. Seeking legal guidance can certainly help, but the addition of a forensic accountant can also be beneficial.

To prove your claim, you are going to need evidence- financial evidence to be more specific. A forensic accountant will be able to analyze accounts and highlight the most relevant evidence for your legal team. A forensic accountant will also be able to identify any potential witnesses and assist the legal team with preparing interview questions both during the discovery process and at any subsequent hearings.

If the case does go to trial, then the forensic accountant can act as a witness. They will be best placed to describe financial anomalies to the courts and assist the legal team in countering evidence from the other party with objective analysis.

A dispute with your business partner can be very stressful, but with a knowledgeable team behind you, a resolution is possible. We help businesses who are dealing with partnership disputes. Contact us for guidance.