The right expert selected to compute economic damages is a critical ingredient to help an attorney’s case involving economic damages. As CPAs, we are asked to provide independent, objective opinions and/or consult on issues in a case.
What CPAs do in litigation:
CPAs analyze financial information and other relevant data. These analyses are used to develop conclusions about the issues and form the basis to independently calculate economic damages that are defensible in a court of law or other forum.
We are hired in a variety of disputes and investigations:
We perform a variety of tasks, including ones not solely related to the analysis of financial statements:
FSS helps attorneys in many ways in anticipated litigation:
We provide the analyses that attorneys use in settlement discussions even prior to a lawsuit being filed. During an initial phase of litigation, we can assess facts and provide a preliminary estimate of damages, if they exist.
FSS serves attorneys in litigation:
We serve as an expert witness or a consultant. As an expert witness, we are an advocate for our opinion, not the attorney’s client. There are nuances to litigation services work, which is why it is critical to enlist the FSS team, comprised of individuals who understand the litigation process.
When FSS serves as a consultant, our role is usually never disclosed, so our work is not generally discoverable. A consultant’s role is similar to an attorney’s advisor.
Reasons FSS is hired as expert witnesses by attorneys:
When an attorney should hire FSS as an expert witness:
As early as possible.
While cost is always a consideration, cost can be managed by taking the appropriate steps in close communication with our client, the attorney. FSS can manage fees through the following:
Whether serving as expert witness or consultant, FSS adds great value to attorneys. Learn more about FSS litigation services here.