Financial forensics and loss of earnings determinations in uninjured scenarios: The increasing role for forensic industrial psychology in investigating and determining post-morbid uninjured scenarios in personal injury loss of earnings claims
Jean-Marie van der Elst
TAS Forensics LLC, USA
: Forensic Toxicol Pharmacol 2015, 4:4
Abstract
Forensic practices document established procedures for ascertaining and determing quantitatively-based loss of earnings in personal injury claims. These have similar charactersitics in many international markets where claims are lodged, depending on the applicable laws in existence. Typically claims are focussed on 3 areas. Investigation and determination of pre and post-morbid activities and earnings and the critical determination of uninjured activities and earnings, were it not for the accident or incident. Recent experience reveals the increasing role of forensic industrial psychology when investigating claimant’s activities and related earnings in the determination of uninjured scenarios. Claimants increasingly exagerate pre- morbid claims of their activities and hence earnings, leading to overstated and often unsubstantiated post-morbid uninjured claims. This trend is well worn, however as forensic accountants we have seen significant benefits from close cooperation with industrial psychologists when unpacking claims and related earnings prior to actually determining the numbers. This has necessitated a broader perspective and insight when investigating claims and has demanded an approach at least as lateral as the depth of professional expertise demands in our investigations. The courts and defendants demand a greater understanding and clarity of motivations behind the numbers supporting claimant losses. Given that uninjured scenarios often extend for many years into the future, these determinations are particularly material. The input of Industrial Psychologists is adding significant value to the role and efficiency of the forensic accountants in their understanding, investigations and determinations of losses.
Biography
Jean-Marie van der Elst is currently enrolled for a DBA degree at FIT, Melbourne, USA. He holds a Masters Degree (Economics & Finance) from University of Port Elizabeth, South Africa, where he was a Lecturer in the Faculty of Economic Sciences before completing the SEP program at Columbia, NY. He has been a Treasurer at GMSA, Finance Director Tetra Pak UK, Switzerland & Russia, CFO RJR Russia and GM Coca-Cola Tanzania. He has founded TAS Forensics, developing a niche market for international financial forensic services and recently opened TAS Forensics LLC, Florida and he is a member of ACFEI. He facilitates settlements applying his unique blend of international academic, corporate and entrepreneurial skills & experience.
