Accounting is one of the pillars of work in bankruptcy procedures, and the extensive majority of trustees in several international experiences because the work requires familiarity with the concepts of financial reports, the ability to read the financial statements and to know whether the facility is bankrupt, faltering, or it's feared that it will stumble Based on its cash flows, and what could be included in (assets, or liabilities, etc.), in general, the importance of accounting in the work of the trustee is self-explanatory, and if it is affordable for the accountant, it is a necessary duty for the lawyer as it is outside the scope of his original profession.
Working in bankruptcy procedures - especially with the recent experience - requires innovation and development in the field of accounting to ensure that accounting following its standards achieves the objectives of the bankruptcy procedure, the most important and most important of which are maximizing the value of assets, increasing the amount of distribution and return to creditors, maintaining economic value and supporting the activities of the debtor.