Mr. Asim Sheikh

Mr Asim Sheikh is a Forensic Accountant, Investigator and a Company/Share Valuer with over 18 years of experience in expert witness and advisory assignments.  He has been involved in over 100 cases as an expert witness and advisor, assisting courts and advising clients in resolving contentious and non-contentious matters of varying sizes and complexities (including some high-profile matrimonial, criminal and commercial dispute cases).

Asim started his career at BDO LLP in 2006, where he qualified as a Chartered Accountant whilst working on a range of forensic accounting, investigation and valuation matters.  In 2015, Asim joined PwC LLP, where he spent two years working on some of the high profile investigation and transaction dispute matters.  In late 2016, Asim set up LitAcc, an independent practice, with a mission to provide ‘top-tier’ forensic accounting, investigation, business valuation, and related advisory services that are tailored to clients’ requirements. 

Whilst growing LitAcc, Asim provided consultancy services to Forensic Risk Alliance (FRA) on the multinational investigation into bribery and corruption allegations against Airbus SE.

As an experienced expert witness, Asim has a strong understanding of requirements under the Civil Procedure Rules (CPR), Family Procedure Rules (FPR) and Criminal Procedure Rules (CrimPR).  He has prepared numerous expert reports, attended conferences with counsels, held discussions with other experts, prepared joint statements and attended court to give evidence. Alongside his specialist skillset and experience, Asim is known for: his ability to grasp complex issues quickly; exceptional attention to detail; and using innovative yet pragmatic techniques/approach to create efficiencies and to improve outcome on cases.

Asim is regularly instructed by law, accounting and tax firms across the UK to act as an expert or advisor in a range of forensic accounting and company/share valuation matters.  He acts on behalf of both claimants/applicants and defendants/respondents in party appointed, shadow or single joint expert capacity.    

Areas of expertise include:
• Share and company valuations
• Probate disputes
• Shareholder/partnership disputes
• Loss of profits claims
• Professional negligence
• Transaction disputes
• Matrimonial disputes
• Criminal tax proceedings
• Warranties claims
• Fraud and financial crime
• Confiscation proceedings
• Investigations
• Cryptocurrency investigations

Some case examples include:
• Instructed by the defendant/respondent facing an unfair prejudice petition to value minority shareholding interest in a regional wholesale food supplier/distribution company to assist with a shareholder dispute.
• Instructed by the shareholders/directors of a wholesale supplier of frozen food products to value the entire share capital of the company for the purposes of tax restructuring.
• Acted on behalf of the sellers of a frozen beverages company to value the company following allegations against it by the buyer for breach of SPA warranties.
• Acted on behalf of a large soft drinks manufacturing company to value a contract/assess loss of profits following allegations against it by a customer for breach of contract.
• Forensic accounting review of the underlying books and records of a company involved in the running/operating of a local supermarket (aimed at customers with South Asian heritage) for the purposes of assessing cash in hand balance to assist the Court in cash forfeiture proceedings.
• Forensic accounting review of the banking data of a company involved in the running/operating of a local supermarket (aimed at customers with Middle Eastern heritage) to assist the Court in criminal proceedings involving allegations of fraud and money laundering.
• SJE instructions in matrimonial proceedings to value two companies involved in the operating/running of artisan butcher shops.
• Forensic accounting review of partnership accounts and underlying accounting records of a large poultry/meat processing business to identify accounting irregularities and/or misappropriation of profits to assist in a partnership dispute case involving a number of parties (including a deceased business partner).
• Valuation of a large retail fit out company and the relevant shareholding in it on behalf of the claimant (the beneficiary of the deceased’s shareholding) to assist in a contentious dispute.
• Single joint instruction to calculate tax liabilities on the disposal or transfer of assets and shareholding in matrimonial proceeds.
• Investigation into the finance department of a hospitality business following allegation of misappropriation of funds by the former finance director of the company

Practicing member of the Academy of Experts and Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW)