Using software to digitize your litigation consulting practice How well does your current document management system measure up? Learn more about the latest trends and techniques in using electronic data storage and how accountants are uniquely positioned to transition into the use of this technology in their litigation consulting engagements.
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Practice techniques used to serve as an effective expert witness In this final part of Mark Shirley’s litigation services series, the focus turns to practical tips for new and experienced expert witnesses. These include what to consider before engaging, how to organize the file, the need to understand the vernacular and preparation, as well as the need to understand the discovery process. Impressions are also shared with respect to the use and advantages of visual aids, and how to conduct direct and cross-examination testimony.
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On June 4, 2013, Florida Governor, Rick Scott signed HB 7015, joining the Federal Courts and other jurisdictions in adopting the Daubert test for admission of expert testimony. Just weeks ago, Florida followed the Frye Standard which allowed experts to testify if their expertise was “generally accepted” in the field in which it belongs. Many had felt that is allowed “phony science” or strange testimony from so-called “experts to be permitted. It also limited a judge’s ability to act as a gatekeeper to exclude unqualified experts. It may have taken 20 years, but since July 1st, testimony in Florida courts…
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Diversify your practice and expand your skillset Valuation analysts can develop the necessary skillset to perform economic damages calculations and construct detailed reports. This is the case despite the differences in how economic damages calculations are prepared vis-à-vis commercial damages calculations.
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The financial neutral plays an important role in the collaborative law process One of the team members in the collaborative law process of divorce is the financial neutral. This article explains the role of the financial neutral as an impartial expert.
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An overview of the Federal Rules of Evidence, Federal Rules of Civil Procedure and leading pre- and post-Daubert cases In this third part of a four-part series, the focus turns to the rules of evidence and standards used to admit the testimony of expert witnesses. While a minority of jurisdictions follows the Frye standard, the majority has adopted the Daubert standard. Objective testimony is critical, which means the expert must not merely accept representations from the client.
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Professional accounting valuation accrediting standards for effective litigation In this second part of his four-part series, Mark Shirley, CPA/ABV, CVA, MAFF, CFE, focuses on complicated professional standards. Here, the article examines AICPA’s Code of Professional Conduct and Statement on Standards for Consulting Services (SSCS), which sets forth the scope and limitations of practice. While the AICPA has not promulgated litigation reporting standards, it has incorporated a judicial exception in SSVS and issued at least two non-authoritative Consulting Services Practice Aids addressing effective litigation services.
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Procedural phases in litigation: the role of the expert from drafting of the complaint through trial In this first part of a four-part series titled “Providing Effective Litigation Services” Mark Shirley, CPA/ABV, CVA, MAFF, CFE presents an overview of the phases in a civil case, from filing of the complaint through trial. An effective expert is a professional that understands the procedure, rules, his or her role and has the knowledge to provide the trier of fact, an informed opinion and ability to anticipate challenges.
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What is Considered Good Business Sense Today May Be Considered a Breach of Fiduciary Duty Tomorrow. Pay Special Attention to Fairness Opinions. Are your clients risking liability as they complete their daily tasks? What is considered good business sense today may be considered a breach of fiduciary duty tomorrow. That possibility is increasing. Business appraisers should pay special attention to fairness opinions. Bill Bavis explains why.
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There’s an Important “Crime-Fraud Exception” to Attorney Privilege Experts Need to Be Aware of. Here are Some Key Legal Guidelines to What Is and Isn’t Legally Protected Communication When experts counsel business owners and represent them legally, what is the legitimate scope and possible limits of attorney-client privilege? Jim Hitchner reviews the findings of a key 2009 decision by The New York Supreme Court, Appellate Division, Sieger v. Zak, that provided a useful summary of clear precedents and set clear guidelines that that all experts should be aware of.
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Businesses Incur Expenses In Order to Generate Sales. Understanding How These Different Variables Relate to Each Other is Important. Here are Some Tips. Often experts present opinions based on statistical analysis. It helps to understand some basic statistical tools. Dave Sutherland discusses some tools used to test for relationships that may exist among data sets, such as sales, marketing, cost of goods sold, etc. Here’s why correlation may not always be evidence of causation.
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Royalty Rates in the Life Sciences are Under Increased Scrutiny. But Has That Caused Rates to Decline? Several medical manufacturers were accused of violating federal kickback statutes. Federal enforcement prompted many companies in the industry to review and revise the terms under which they collaborate with and pay healthcare professionals for contributions of time, know-how, and intellectual property. Ed Gold and the Invotex team examine how this has affected royalty rates.
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SSRN Journal of Wills, Trusts, & Estates Law — Top 10 Papers Downloaded Nov-January Include Pieces on Valuation Discounting, Tax-Deductible Conservation Easements, and More The Wills, Trusts & Estates Prof Blog reports the top downloads from November 21, 2012 to January 20, 2013 from the SSRN Journal of Wills, Trusts, & Estates Law for all papers announced in the last 60 days. Here are the top four. Visit the blog to see the rest.
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Here are four surprising ways to protect yourself in a law suit and keep legal fees to a minimum. Kevin Daum at Inc. advises: “Shakespeare said, “First kill all the lawyers.” Maybe this seems a tad aggressive, but then again, for most people the last thing you look forward to is someone showing up at your door with a subpoena. Whether a lawsuit is business related or personal, the thought of engaging an attorney for protracted litigation can strike fear into a person’s heart.” Not only is there emotion and argument to contend with, but the sheer agony of…
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Marvell Technology Group Sold Billions of Semiconductors Developed at Carnegie Mellon University Jad Mouawad reports in the New York Times that Carnegie Mellon University said it was awarded $1.17 billion by a federal jury in Pittsburgh on Wednesday in a unanimous verdict that found the Marvell Technology Group had sold billions of semiconductors using technology developed at the university without a license.
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Credibility is the Critical Driver of Value for an Expert. Stay on Top With These Best Practices. John Marcus provides guidelines successful expert witnesses abide by: Trust no one, read everything, spend more time thinking and less time computing, and be true to yourself. Here’s why these best practices matter.
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There’s a Maze of Standards Out There. Here’s a Guide to Key Provisions in The Most Important Ones *AUTHORS NOTE* This article was written in May 2010. In December 2010, the Federal Rules of Civil Procedure, section 26(a)2(b) were updated such that drafts and attorney communications are now specifically recognized as work product and not discoverable. The exception to this is correspondence as it relates to compensation for the expert’s study or testimony or if the correspondence identifies facts or data that the expert considered in forming his or her opinion. For the actual updated rule click here.
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What Happens When a Business is In Over Its Head and Who is to Blame? When firms approach bankruptcy, a definition of what constitutes “deepening insolvency” becomes critical in establishing the legitimacy of litigation concerning damages, breach of fiduciary duty, and more. Michael J. Molder explains context, consequences, and case law on the matter.
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Why Experts Working from the Same Facts Generate Varying Opinions Financial experts can differ wildly in their opinions and findings because of differences in their underlying financial and economic assumptions, differing legal interpretations, differing theories on damages, and different access to information. Jim Gravitt explains.
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Maintaining Professionalism Under Pressure and Under Oath Different legal professionals can use vastly different deposition techniques. John R. Markel shares two starkly different experiences with depositions, and details how to prepare yourself for the standard questions as well as how to cope with curveballs.