One of the most important decisions an attorney involved in a complex litigation will have to make is the selection of a forensic accountant as a consultant or as an expert witness. The specialized training and expertise of a forensic accountant can make a significant impact in the successful outcome of a case.
Category Archives: Forensic Accounting
ACFE 2016 Global Fraud Study – Fraud In Small Business
Anti-fraud professionals, business managers, government and regulatory agencies, and the media each have a vested interest in assessing the total amount of money lost to fraud each year. While many studies have attempted to determine the extent of fraud’s financial impact, the challenges in arriving at the true total cost of fraud are numerous.
What Is the Difference in All the Various Valuator Credentials?
Okay, you’ve seen the professional designations such as CPA, CVA, AVA, ABV, ASA, CBA, CFFA and so on. But WHAT ARE ALL OF THESE DESIGNATIONS? Isn’t just a regular CPA all one needs in a matter of valuation or forensic accounting?
Hiring a Forensic Accountant During Your Divorce
The dreadful “D Word.” Divorce is never easy, but in today’s world, it is all too common, becoming an industry within itself. While the pain and heartache that attach themselves to a separation can be difficult to navigate through, complicated finances usually comprise a large bulk of the dispute.
Why You Should Hire A Forensic Accountant
To many, the term “forensic” might elicit images of high-profile government work, cases that seem relegated to the kinds of investigations we see on primetime television. But acquiring a forensic accountant for the daily operations of small to mid-sized businesses is a much greater necessity than noted at first glance. So why should you hireContinue reading “Why You Should Hire A Forensic Accountant”
Forensic Considerations In Divorce
When representations made by an opposing spouse appear questionable, a CPA/CVA/CFE may be engaged to test the financial representations by performing forensic procedures. For example, a family incurs annual living expenses of $90,000 and the earner spouse claims to make only $40,000 per year.
Commercial Damages-Lost Profits
The calculation of damages in commercial litigation is generally based on lost profits. The purpose of a lost profits calculation is to place the damaged party in the same financial position or condition it would have been but for the other party’s wrongful action to the extent allowed by law.
Will a Daubert Challenge Derail Your Expert?
As an experienced provider of litigation support services, I am aware of the unique challengesfinancial experts face. When a “financial expert” provides written or oral testimony to a trier offact, the following considerations are crucial:
Divorce: Business Valuations & Forensic Accounting
Business valuations during divorce proceedings are extremely complex. Whether or not you and your spouse share ownership, it is extremely critical to seek early legal and financial advice to protect your own financial future as well as the future of the business.
Janicek Valuation & Forensic Services, PLLC 