EARLY CASE ASSESSMENT (ECA) FOR ACCOUNTING MALPRACTICE ALLEGATIONS
For plaintiffs and defendants, deciding whether to pursue or settle an accounting malpractice claim hinges on understanding the facts of a case at the earliest possible opportunity.
At FSS, we systematically investigate and expertly assess accounting malpractice allegations through a process known as early case assessment, or ECA. This process helps plaintiffs, defendants, and their counsel decide if an allegation of accounting malpractice represents a viable claim.
ECA: SAVING TIME AND MONEY
An ECA allows our clients save time and money on costly e-discovery and litigation activities. For plaintiffs, ECA can help determine if a case will be strong enough to pursue. On the defense side, an ECA can help determine whether an early settlement may be the best course of action.
Through ECAs, we reduce the amount of data needed to the least number of documents possible. Using this information, we provide analysis and recommendations that allow our clients to quickly determine how to proceed—thus saving time and money.
HELPING YOU MAKE THE RIGHT DECISION
During an early case assessment, we focus on building a set of key criteria, including:
- pinpointing important issues in the case that will help determine whether or not to pursue or defend an accounting claim;
- determining how much relevant data a client may have on hand pertaining to the case;
identifying critical documents that should be retained or accounted for as part of the litigation process;
- estimating the potential costs of litigation or savings that may accrue from pursuing a settlement.
Using these criteria, our clients are able to make an informed decision about the future of a potential case and about whether they should expend their resources to pursue it through discovery and trial.
AN APPROACH TAILORED FOR EACH CLIENT
Each case assessment is unique and requires an approach tailored to the client. Once you schedule a call with an expert, we can discuss with you our proprietary financial investigation methods to guide you with options based on your access and data availability for our investigation.
When Auditors Aren’t Using Their Professional Skepticism, Accounting Malpractice Claims May Arise
Organizations often take it as an article of faith that their auditors are following professional standards—and for good reason. Publicly released peer reviews of auditing firms give 95 percent of them passing grades for their work. In fact, a recent Wall Street...
Avoiding Accountant Malpractice Claims: It’s Not Getting Any Easier
For nearly 25 years now, I’ve been exhorting CPAs to take seriously their responsibility to detect fraud during an audit—or face the potentially ruinous financial and reputational consequences of accountant malpractice claims. Sadly, many audit firms and CPAs have yet...
How Getting Too Close to Clients Can Lead to Accountant Malpractice Claims
Accountant malpractice claims have been a growth industry for litigators for more than two decades, thanks to increasingly strict professional standards for auditors and accountants. And there’s no letup in sight. In fact, even in 2020, with the coronavirus wreaking...