Below follows a selection of the most frequently asked questions relating to Road Accident Fund Claims. We trust the information below will be of value to you. If you have any additional questions, please feel free to contact us directly.
What is a Pre-Report Assessment?
A Pre-Report Assessment is a high-level review of the available documentation and provides commentary on any identified irregularities, matters that require clarification and possible questions to ask the Claimant to obtain clarity and advise the next steps to be taken. A Pre-Report Assessment highlights what outstanding information is required in order to compile a Forensic Accounting Report.
What is a Forensic Accounting Loss of Income/Support Report?
A forensic accounting loss of income report is compiled to determine the extent to which the Claimant’s past business profits have been affected and future business profits are likely to be affected, in light of the accident/incident.
A forensic accounting loss of support report is compiled to determine the extent to which the Claimant’s financial support has been affected in light of the deceased’s passing, and the resultant loss of business profits.
What is the difference between a Pre-Report Assessment and a Forensic Accounting Report?
A Pre-Report Assessment can be compiled prior to a Forensic Accounting Report. It is a tool to advise our clients with regards to irregularities, matters that require clarification, possible questions to ask the Claimant to obtain clarity, and the next steps to be taken in compiling a Forensic Accounting Report. Previously, this advisory period was conducted via multiple correspondence mediums that were inefficient and time-consuming. A Pre-Report Assessment has been established to speed up the information-gathering process and provide clear and concise recommendations to our clients.
A Forensic Accounting Report is compiled once the outstanding information highlighted in a Pre-Report Assessment is obtained. A Forensic Accounting Report quantifies the loss of earnings or support. A Forensic Accounting Report, unlike a Pre-Report Assessment, can be handed to an actuary for final calculations to be made, can be presented as evidence in court and can be used in conjunction with our chartered accountant’s testimony.
How much does a Pre-Report Assessment or a Forensic Accounting Report cost?
Fees may vary depending on the complexity of the client’s situation, the amount of documentation required for assessment, and the extent of any relevant investigations. Because everyone’s needs and situations are so different, it is not possible to provide an exact costing. We can, however, assist by reviewing the prospective client’s information at our obligation-free initial consultation and provide an estimated cost at their request. No charge will be made for this review should they not continue with our services. For more detail on the potential costs, please visit the RAF Claims Service page or contact us directly.
How long does it take to compile a Pre-Report Assessment or a Forensic Accounting Report?
This depends on the complexity of the matter, as well as the timeframe in which we received the supporting documentation relating to the matter.
Average delivery time (subject to change):
• Pre-Report Assessment – 4 to 6 weeks
• Forensic Accounting Report – 6 to 8 weeks
What documentation do we require to compile a report?
We require various documentation from the Instructor as well as the Claimant/Plaintiff. To assist you, we have created a downloadable PDF guideline which outlines everything you may need.