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The role of the Forensic Accountant in Mediation

The role of the Forensic Accountant in Mediation 

The Mediation Act 2017 came into force on 1 January 2018. Many commercial disputes are the subject of complex litigation, however a number of these disputes are being resolved through mediation and other forms of Alternative Dispute Resolution (ADR).  In recent years the Courts in Ireland have increasingly invited parties to use mediation to resolve commercial disputes.  Mediation is the use of an independent third party who facilitates the parties to reach a mutually beneficial settlement of the issues in dispute.  The mediator has no role in deciding the outcome of the issues in dispute, however a skilled and experienced mediator will facilitate a process where the parties in dispute are able to arrive at an agreed settlement.

A forensic accountant’s role in a mediation would include the identification of all of the different heads of loss, and calculation of same.  In acting as a data provider or data arbiter in a Mediation the forensic accountant is able to reduce the data conflicts which often prevent the parties from arriving at an agreed position.

In a mediation, both the parties and the mediator may benefit from the forensic accountant attending the mediation to present his or her findings to the mediator in the presence of the parties, or independently of the parties who are involved in the dispute.  

Future Developments of Mediation in Ireland

It is hoped that the use of mediation and other forms of Alternative Dispute Resolution will continue on an upward trend into the future to resolve complex commercial disputes.  

Circle of Conflict: Causes of Dispute and Opportunities for Collaboration (Christopher W. Moore)

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