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Litigation Support & Forensic Accounting

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(The following is an excerpt from The Executive's Guide to Business ValuationTo view this free IACAM executive guide, please click the blue link above.)

A business valuation in a litigation context frequently arises from the need to quantifyeconomic damages. A valuation measuring business interruption claims is another example of an appraisal for litigation support. Finally, valuators trained as forensic CPAs also work on matrimonial engagements from either a forensic accounting orpurely valuation perspective.

From a legal perspective, a CPA with an expertise in damages valuation shouldremain a top choice for a rebuttal report. The independence and conservative mindsetof most CPAs is particularly helpful if the other side has retained a seasoned hired gunexpert.

Many plaintiff experts in high profile commercial damages cases are PhDs/labor economists lacking formal training and experience in either securitiesvaluation or accounting. Without necessary peer review of their valuation workproduct to receive certification, such experts, despite their academic pedigree andsmarts, may be open to strong criticism in a damages case involving heavy accountingor valuation fundamentals. Both of the aforementioned skills are tantamount to quantifying -before and after-damage claims.

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