Before deciding to accept the engagement, there are some pre-engagement considerations that
need to be made. Before we dive into the type of client the attorney is, there are a few other
factors.
• Any conflict of interest must be identified before accepting the engagement. If there are
any conflicts of interest, it can impact the accountants independence and objectivity.
• "Before accepting an engagement, the forensic accountant should always compare the
required competencies against his or her portfolio of skills and resources." (Rufus et al.,
2015) If the accountant has less expertise in the required fields that the engagement
requires, it could affect the timeliness of completion and the accountants reputation
could be jeopardized in the event that they provide false or incorrect expert testimony.
• Any red flags with the client need to be addressed. For example, if the attorney doesn't
want to pay in a timely manner, it may be better to require payment up front or set up a
retainer before accepting the engagement. If the attorney is jeopardizing the progress of
the case by not providing information/data in a timely manner, the risk of missing
deadlines or jeopardizing your reputation may not be worth taking the engagement.
It's all a matter of determining if the risk is greater than the reward. In order to accept this case,
I would require an hourly rate and a retainer to be paid up front. I would also reiterate the
importance of not rushing through the engagement to decrease the risk of overlooking any
pertinent information. I would also make sure to have an agreed upon work schedule so I don't
get overworked and/or overtired and overlook information needed to make an opinion on the
case.
Rufus, R. J., Miller, L. S., & Hahn, W. (2015). Forensic Accounting. Pearson.
