Accounting Litigation Support
Litigation support is provided to attorneys
by specially trained accountants who serve to
provide analysis of many types of financial data. It
is often so critically important that the entire
outcome of an attorney’s case may turn on the expert
analysis and consultation of his or her litigation
support specialist.
The formal explanation of this accounting
specialty can be succinctly explained as follows:
Litigation support is concerned with providing
assistance to existing or pending litigation through
the interpretation and presentation of information
pertaining to an attorney’s case. To illustrate,
some typical examples of the work involved in
litigation support include:
·
Analyze and assist with the
understanding of the financial issues
·
Review relevant supporting
documents to form an initial assessment of the
situation and identify possible areas of loss
·
Assist in obtaining
documentary evidence to support or rebut a claim
·
Review opposing damage
reports
·
Design questions to be asked
during evidence gathering
·
Review various testimonies
during the initial disclosure phase of the trial
proceedings
·
Report on both the strengths
and weaknesses of the positions taken
·
Assist with the settlement
discussions and negotiations
Expert Witnesses and Consultants
The skill sets that litigation support
accountants have often make them the ideal choice
for expert consultants and witnesses. Many times
they are engaged by attorneys to develop evidence.
They may also be engaged by attorneys to help them
to prepare for testimony, review documents, or
assist in identifying and recommending other expert
witnesses.
Litigation support consultants may not be
expected to testify even if litigation is intended.
Hence, attorney client privilege or attorney
work-product privilege ensures that the documents
prepared by their litigation support accountant may
not have to be shared with the opposing side. If
this is the case, the accountant’s participation in
the litigation may end with the identification of
the suspect (as in the case of embezzlement) or the
establishment of the fraud and the range of loss.
Litigation support consultants are often in
high demand to provide expert witness services,
however. People who have the insight nurtured
through education, experience, and training to
proffer opinions about a situation are called upon
as expert witnesses. Certainly, this is what
litigation support consultants often do, and they
can testify as to facts, as well as give their
opinions.
Accountants and CPAs are critical in many aspects
of litigation support