Ravi Arumugam FCA, CEO and Managing Partner of RT LLP and RT Group has been appointed as one of the inaugural 6 members of the Panel of Financial Experts (POFE) to support the Family Justice courts (FJC). The POFE was jointly formed by the FJC and the Institute of Singapore Chartered Accountants (ISCA) to provide FJC Judges with financial valuation advice in dealing with issues relating to division of matrimonial assets in divorce cases. The members of the POFE were selected from ISCA members who have had extensive experience in dealing with advice on dispute resolution, division of matrimonial assets or expert witnesses. Other members of the panel comprise of senior partners from the Big four accounting firms as well as prominent local accounting practices.
The POFE aims to provide Judges from the FJC with financial valuation reports to assist them at both the mediation and ancillary matters stages, in dealing with issues relating to the division of the matrimonial assets of divorcing parties under section 112 of the Women’s Charter. The POFE project enables the Family Justice Courts to appoint a financial expert from the POFE to assist parties who are embroiled in complicated and contentious financial disputes. The financial expert will assist the Court and the parties in providing an equitable and objective valuation of the matrimonial assets under contest, thereby allowing justice to be administered more effectively and efficiently.
Ravi has a wealth of experience in acting as a financial expert witness on legal cases in the Singapore courts. He has also advised on valuation matters. Ravi will be supported by senior staff of the RT Group in Singapore who will form a specialised advisory team for these assignments. These cases will require a high level of objectivity, financial valuation know-how, investigative work and research to ensure a fair presentation of the matrimonial assets under consideration.
“It is a privilege and I’m very honoured to be appointed to this panel of experts to work with the FJC on this initiative” , said Ravi upon his appointment, “RT has always been a pioneer of new and innovative services and this is certainly a project that we are excited to take on. I look forward to contributing my knowledge and expertise to help parties involved in divorce proceedings resolve the division of matrimonial assets in a fair and amicable manner”.
To read the full media release by ISCA, click here.