Expert Determination Case Studies

Expert Determination is a procedure where an expert whose decision is final and binding resolves a dispute, usually of a technical nature.

Many expert determination appointments come from the list maintained by the President of ICAEW; there are about 100 on the list, out of a total membership of 150,000 chartered accountants, who are regarded as competent to carry out this work.

The process is supposed to be quick, but one of Chris’s cases lasted about 7 years, because before fixing the price of the company, he had to wait for a decision from the tax commissioners on RIOTs (Reservation of Interest in Offshore Trusts). Conversely, because all concerned were ready and wanted a prompt decision, another case was completed in five working days.

A mediator who is also an accountant is without doubt a benefit!