Complete financial information provided to a financial expert can lead to more credible work product produced by the expert. Unfortunately, many attorneys bring the CPA/CVA into the picture too late in the case!
The danger here can be that if the financial expert isn’t experienced in working with these cases on a regular basis (such as the CPA who does not possess specialized training in business valuation or forensics procedures), then the expert may try to use only the original information provided, and that may produce a woeful product that will collapse under aggressive cross examination. If, an expert identifies the deficit in available information, additional documents and information must then be requested. This can lead to stalling tactics, motions being made, waiting on rulings, etc. In general, this is disruptive to the flow of the case, and can substantially impair and prolong the case, to everyone’s detriment.
Consider the benefits of getting a CVA involved in the early stages of discovery. CVAs are CPAs with special financial and valuation training. Their early involvement in the discovery process can help move the case along and improve your chances for success.
Should you need business valuation assistance or have questions, please call one of our credentialed professionals at (615) 822-8342 or contact us via email.