Selecting the right expert to calculate economic damages in a breach of contract claim can be critical in the success of an attorney’s case. The expert must be able to calculate damages resulting from a breach of contract and convey the story to a trier of fact in a manner that will make the attorney’s job easier. As CPAs, we can provide independent, objective expert opinions and consult on various issues in a case on an undisclosed basis.
What CPAs do in litigation
CPAs analyze financial information and other relevant data to help clients determine the existence and extent of damages associated with a particular set of facts and circumstances. These analyses are used to develop conclusions about the issues and form the basis of independently calculated economic damage opinions that are defensible in a court of law or another forum.
We are hired to assist in a variety of breach of contract claims:
We provide additional services beyond the financial analyses expected of CPAs to assist with the breach of contract claim:
FSS assists attorneys in anticipated litigation
Forensic Strategic Solutions provides the analyses that attorneys can use to settle a breach of contract claim prior to filing a lawsuit. Bringing FSS in early to assist, we can assess the facts of the case from a financial perspective to improve the efficiency of the damages calculation. We determine if quantifiable damages are available for recovery and provide preliminary estimates of a reasonable range. We also identify critical information required to form a more focused damage calculation. Setting expectations early can benefit a breach of contract claim by improving chances for a reasonable settlement or determining that trial is the likely remedy.
FSS serves attorneys in litigation
We can be retained as a consulting expert or a testifying expert. As consulting experts, our role is usually never disclosed, so our work is generally not discoverable. Attorneys can view us as trusted advisors to provide strategic advantages throughout all phases of litigation.
As testifying experts, we will be put forth as your expert witness in the ongoing litigation, and all of our work is usually discoverable. In this role, we will advocate for our independent opinion and not for the attorney’s client. Litigation work can be complex, involving high stakes, and the FSS team understands what it takes to provide attorneys with the highest level of professional service in that environment.
Reasons to hire FSS
When should an attorney hire FSS?
The earlier we are brought into a case, the greater the likelihood that we will be able to proceed with the highest level of efficiency. While cost is usually a consideration, early involvement reduces wasted time and the pursuit of fruitless theories, and generally results in lower fees to the client. We are able to assist managing the process from the outset, as opposed to dashing to the finish line with a reduced ability to leverage.
FSS manages fees for the client by:
Learn more about how FSS can add value to a breach of contract claim or other litigation involving economic damages here.