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Thought Leaders

Thought Leaders

Trevor Dick

Trevor Dick

Alvarez & MarsalRooms 405-7, 4/FSt. George’s BuildingCentralHong Kong

Thought Leader

WWL Ranking: Global Elite Thought Leader
WWL Ranking: Global Elite Thought Leader

WWL says

Trevor Dick is a “disputes specialist” providing clients with more than 25 years’ experience of involvement in financial investigations arising from insider dealing and fraud.

Questions & Answers

Trevor is a managing director in Alvarez & Marsal’s disputes and investigations team in Hong Kong, specialising in the provision of expert accounting testimony in contentious matters. He has delivered oral and written expert accounting testimony before the High Courts in Hong Kong and Singapore, and in various international arbitrations under the HKIAC, ICC, UNCITRAL, SIAC, AAA and CIETAC rules.

What attracted you to a career in disputes and investigations? 

I like surprises! One never knows where the next engagement will come from, each new instruction is unique, and each running matter has its twists and turns. I have always enjoyed the challenge of identifying solutions to novel problems and it is invigorating to know that it is genuinely impossible to predict what I will be doing at this time tomorrow.

You do a mix of investigations and disputes work. To what extent do these two sides of your practice complement one another?

To an increasingly large extent. It is becoming relatively common for contentious engagements to involve both a forensic work stream (for example, a forensic investigation to establish the facts associated with alleged breaches of contract and provide a basis for expressing their impact on quantum) and funds or asset-tracing procedures, alongside a more traditional quantum analysis and opinion.

How has the market changed since you first started practising?

It’s more competitive. When I first arrived in Asia, there was a limited number of serious forensic experts in the market. That is certainly not the case now. Clients have lots of good options, and participants in the market need to invest significant effort in demonstrating the value of their experience, expertise and offerings.

What qualities make for an effective forensic accountant?

A curious, rigorous and sceptical mindset. A willingness to expend the intellectual effort required to uncover and understand complex fact patterns. The ability to turn intricate analyses of financial and economic data into clear and compelling written reports that effectively communicate findings to clients, instructing solicitors, judges and arbitral tribunals. An inclination to admit to and deal with the impact of errors or misunderstandings as soon as they arise. And the confidence to be a robust advocate for one’s legitimately held professional opinions.

What practical issues do you see arising from covid-19? 

We’ve seen some remarkable behavioural changes during the first-half of 2020, and it will be interesting to see what sticks as restrictions are lifted. There has been an unexpected global “proof of concept” of widespread remote working. There will be both organisations and teams within organisations for whom the increased flexibility offered by remote working will be seen as a continuing benefit once normality resumes. We’ve also seen that it is entirely feasible for arbitration hearings to proceed on a virtual basis. The logistics of gathering far-flung parties, arbitrators, lawyers and witnesses in a single geographic location have always been challenging. It is inevitable that there will be hearings that continue to proceed on a virtual basis even when travel restrictions are relaxed.

What new types of fraud do you expect to emerge and develop during the covid-19 pandemic? 

It’s not necessarily that there are new types of fraud, but rather that the consequences of the pandemic have led to increased opportunities to commit old types of fraud. For example, employees’ home network connections may not be as secure as those in the office increasing their vulnerability to cyberattacks. Weaknesses in internal controls as a consequence of remote working increase susceptibility to the diversion of payments as a result of “CEO fraud”. And, during any downturn, pressure on revenues, margins and cash flows tends to the increase the likelihood of previously concealed accounting and financial statement frauds (eg, schemes to inflate revenues and assets) being discovered. Increasingly, such schemes are revealed by whistle-blowers or uncovered by the research of short sellers.

What are the key challenges younger forensic accountants may face in their practice and how can they overcome these?

The principal challenge for a younger accountant is to become a successful older accountant! That has always required skills of adaptation and flexibility. The increasing pace of change might make that more challenging than in the past. For those of us that have children on the cusp of joining the workforce, it’s been observed that many of them will be working with technology that hasn’t been invented yet, solving problems that haven’t been identified yet. On the other hand, opportunities for the acquisition of knowledge and upgrading of skills for those willing to invest time and effort in staying relevant have never been more available. Careers are long, and success is much more about the journey than the destination. 

WWL Ranking: Thought Leader

Global Leader

WWL Ranking: Recommended

WWL says

Trevor Dick is described by peers as "a truly outstanding professional". He has spent nearly 20 years as a forensic accountant investigating and testifying on a broad range of matters.

Biography

Trevor Dick is a managing director in Alvarez & Marsal's disputes and investigations practice based in Hong Kong. He is an experienced financial expert with more than 25 years of diverse accounting experience incorporating 20 years as a forensic accountant, investigating and opining on matters concerning breach of contract, business interruption, minority shareholder and joint venture disputes, acquisitions and disposals, the valuation of shares and businesses, and financial investigations in relation to matters such as fraud and insider dealing.

Since 1999, Trevor has been based in Hong Kong where he has been engaged by clients to provide expert assistance in connection with a variety of disputes pertaining to matters in Hong Kong, the People’s Republic of China, Singapore, the Philippines and elsewhere in the Asia-Pacific region. He has provided written and oral expert accounting testimony before the High Court in Hong Kong and in various international arbitrations under the ICC, UNCITRAL, SIAC, AAA, CIETAC and HKIAC rules. Trevor is a fellow of both the Institute of Chartered Accountants in England and Wales and of the Hong Kong Institute of Certified Public Accountants. He is also a practising member of the Academy of Experts.

WWL Ranking: Recommended

WWL says

Trevor Dick is lauded as a "commercially focused" expert who draws praise among peers for his extensive expertise handling damages valuations across Asia.

Biography

Trevor Dick is a managing director in Alvarez & Marsal's disputes and investigations practice based in Hong Kong. He is an experienced financial expert with more than 25 years of diverse accounting experience incorporating over 20 years as a forensic accountant, investigating and opining on  matters concerning breach of contract, business interruption, minority shareholder and joint venture disputes, acquisitions and disposals, the valuation of shares and businesses, and financial investigations  in  relation  to matters such as fraud and insider dealing.

Since 1999, Trevor has been based in Hong Kong where he has been engaged by clients to provide expert assistance in connection with a variety of disputes pertaining to matters in Hong Kong, the People’s Republic of China, Singapore, the Philippines and elsewhere in the Asia-Pacific region. He has provided written and oral expert accounting testimony before the High Court in Hong Kong and in various international arbitrations under the ICC, UNCITRAL, SIAC, AAA, CIETAC and HKIAC rules. Trevor is a fellow of both the Institute of Chartered Accountants in England and Wales and of the Hong Kong Institute of Certified Public Accountants. He is also a practising member of the Academy of Experts.

WWL Ranking: Recommended

WWL says

Trevor Dick is an “excellent forensic accountant”, with over 25 years’ experience in providing expert accounting testimony throughout the Asia-Pacific region. 

Biography

Trevor Dick

Trevor Dick is a managing director in Alvarez & Marsal's disputes and investigations practice based in Hong Kong. He is an experienced financial expert with more than 25 years of diverse accounting experience incorporating 20 years as a forensic accountant, investigating and opining on matters concerning breach of contract, business interruption, minority shareholder and joint venture disputes, acquisitions and disposals, the valuation of shares and businesses, and financial investigations in relation to matters such as fraud and insider dealing.

Since 1999, Trevor has been based in Hong Kong where he has been engaged by clients to provide expert assistance in connection with a variety of disputes pertaining to matters in Hong Kong, the People’s Republic of China, Singapore, the Philippines and elsewhere in the Asia-Pacific region. He has provided written and oral expert accounting testimony before the High Court in Hong Kong and in various international arbitrations under the ICC, UNCITRAL, SIAC, AAA, CIETAC and HKIAC rules. Trevor is a fellow of both the Institute of Chartered Accountants in England and Wales and of the Hong Kong Institute of Certified Public Accountants. He is also a practising member of the Academy of Experts.

WWL Ranking: Recommended

WWL says

Trevor Dick is a “disputes specialist” providing clients with more than 25 years’ experience of involvement in financial investigations arising from insider dealing and fraud.

Biography

Trevor Dick is a managing director in Alvarez & Marsal's disputes and investigations practice based in Hong Kong. He is an experienced financial expert with more than 25 years of diverse accounting experience incorporating 20 years as a forensic accountant, investigating and opining on matters concerning breach of contract, business interruption, minority shareholder and joint venture disputes, acquisitions and disposals, the valuation of shares and businesses, and financial investigations in relation to matters such as fraud and insider dealing.

Since 1999, Trevor has been based in Hong Kong where he has been engaged by clients to provide expert assistance in connection with a variety of disputes pertaining to matters in Hong Kong, the People’s Republic of China, Singapore, the Philippines and elsewhere in the Asia-Pacific region. He has provided written and oral expert accounting testimony before the High Court in Hong Kong and in various international arbitrations under the ICC, UNCITRAL, SIAC, AAA, CIETAC and HKIAC rules. Trevor is a fellow of both the Institute of Chartered Accountants in England and Wales and of the Hong Kong Institute of Certified Public Accountants. He is also a practising member of the Academy of Experts.

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