• Artificial Intelligence - Litigation Consulting - QuickRead Top Story

    Artificial Intelligence or Artificial Interference? How AI is Reshaping Litigation for Better and Worse

    November 12, 2025

    AI remains a flawed practice companion. In addition to the possibility of hallucinated case citations and incorrect legal analysis, the use of AI introduces data privacy concerns and risks misadvising individuals due to overly generalized AI conclusions. In this article, the author addresses the following: Does the use of AI in litigation represent true artificial intelligence, or is it artificial interference preventing a just outcome? Artificial intelligence (AI) is rapidly transforming the modern-day legal landscape, offering tools for research, drafting, fact development, document review, expert services, jury selection, and even predicting case outcomes. If used correctly and with robust safeguards,…

  • Litigation Consulting - QuickRead Top Story

    Expert Witness E-mail Blunders That Can Sink Your Case: Don’t Say That!

    October 29, 2025

    What is protected communications in one jurisdiction might be discoverable in another. Yet, many expert witnesses draft e-mails as if their words will never see the light of a courtroom projector. The author shares what she has experienced and makes suggestions. Words live forever, especially when they are typed into e-mails during litigation. As an expert witness, your casual Monday morning thoughts could become Thursday’s courtroom exhibit, projected on a screen for all to see. The discoverability rules governing expert communications vary significantly across jurisdictions.[1] What is protected in an arbitration in Michigan might be fair game in Illinois State…

  • Litigation Consulting - QuickRead Top Story - Valuation/Appraisal

    The Unimpeachable Rebuttal 2.0: Pearls Clutched, Loaded, and Now AI-Augmented

    September 17, 2025

    The hired guns now have AI, and they are even more convincing at making the truth sound like a lie and a lie sound like the gospel. This 23rd article in the Unimpeachable Neutrality Series revisits and revolutionizes the art of the rebuttal in an age where AI has become both sword and shield in the expert witness arena. This 23rd article in the Unimpeachable Neutrality Series revisits and revolutionizes the art of the rebuttal in an age where artificial intelligence (AI) has become both sword and shield in the expert witness arena. Last month, I received what can only…

  • Litigation Consulting - QuickRead Top Story

    Case Study: Creative Cash Flow Analysis for Bankruptcy Assignment

    September 10, 2025

    Earlier this year, the author received a business bankruptcy assignment which called for assessing the cash flow for a particular asset in a bankrupt estate and how the circumstances of the estate affected the value of that particular asset. As this assignment continued through testimony and the judge’s ruling, the author wanted to share his experience. While working as an economic expert, I receive numerous assignments in the areas of personal damages, commercial damages, and business bankruptcy. While the assignments for personal and commercial damages cover the waterfront for forensic economic analyses, they have similar aspects in common. One party…

  • Litigation Consulting - QuickRead Top Story

    Valuation Issues When Quantifying Economic Damages: For International Arbitration Proceedings

    September 10, 2025

    This article highlights key valuation issues that are debated during arbitrations, which we have faced on numerous occasions. Some of the most important ones that come up during the quantification of economic damages in international arbitration are biases in financial projections, questions about discount rate, and some secondary concerns. Introduction Economic damages are seen as the Holy Grail of any international arbitration. The amount of compensation for financial losses is the ultimate goal of the claimant, who seeks to be compensated for the damage suffered, but that amount is also the main concern for the respondent, who may be responsible…

  • Litigation Consulting - QuickRead Top Story - Valuation/Appraisal

    Unimpeachable AI Guardrails: Ethical AI Parameters for Valuation Professionals

    July 23, 2025

    In the world of valuation, particularly at the intersection of professional judgement and AI, this 21st article of the Unimpeachable Neutrality Series begs the question now facing us: what kind of AI guardrails should exist? And how do we keep them from becoming runaway lanes, or worse, launchpads, into unintended consequences? There is something charming about a good guardrail. Whether you are navigating the hairpin curves of a West Virginia backroad or the shifting terrain of emerging technologies, there is comfort in knowing you will not plummet into the ravine of professional ruin, so long as the guardrail holds. This…

  • Financial Forensics - Litigation Consulting - QuickRead Top Story

    The Evolution of Fraudulent Schemes: Increased Misuse and Sophistication of AI to Commit Digital Fraud

    July 16, 2025

    The level of sophistication used by fraudsters continues to increase. Fraudsters are using voice recognition and voice swapping, as well as other generative AI tools that continue to evolve. It is critical to constantly reassess internal controls and understand how AI is used and misused. In this article, the author shares some of the schemes used and issues a challenge to entities as well as to accounting and fraud examiners. At this point, the idea of artificial intelligence (AI) generating content is nothing new. You have likely seen plenty of videos and pictures of AI-generated content on Facebook, YouTube, etc.…

  • Litigation Consulting - QuickRead Top Story

    Why Strong Internal Controls Are Essential: For Preventing Fraud and Driving Business Growth

    June 25, 2025

    The importance of strong internal controls cannot be overstated. They form the foundation for financial integrity, operational efficiency, regulatory compliance, and, ultimately, long-term business success. This article explores how strong internal controls not only safeguard against fraud but also serve as a catalyst for business growth and sustainability. In today’s fast-paced and evolving business environment, the importance of strong internal controls cannot be overstated. Most business owners and managers associate internal controls with fraud prevention and detection. However, effective internal controls serve a much broader purpose. They form the foundation for financial integrity, operational efficiency, regulatory compliance, and, ultimately, long-term…

  • Litigation Consulting - QuickRead Top Story - Valuation/Appraisal

    Exploring the Narcissist’s Playbook of Financial Games: From a Forensic Expert’s Perspective

    June 17, 2025

    The authors share personal stories regarding the challenges they have faced in cases that involve people with diagnosed and undiagnosed narcissists disorders. Men and women with this disorder are especially challenging and the authors share what they have learned to mitigate the damage a person with this disorder may have in a case. My (Michele’s) path into the world of divorce finance did not begin with spreadsheets, balance sheets, or courtrooms—it began with my own personal experience. Like many others in this field, my journey was shaped by real-world challenges, which gave me the passion and drive to help others.…

  • Litigation Consulting - QuickRead Top Story

    Calculating Personal Damages: A Review of the U.S. Supreme Court’s Pfeifer Decision

    June 11, 2025

    For those interested in working in the personal damages area, a review of the U.S. Supreme Courts’ Pfeifer decision is essential. It provides a great outline as to what the courts expect from an expert’s work. This article reviews the Pfeifer decision and the Fifth Circuit Court of Appeals’ Culver II decision, which expands on the definitions for discounting methods approved by the U.S. Supreme Court.   The field of litigation support provides a wide range of options for accounting and financial experts to work. Opportunities abound for work in the fields of commercial damages, business bankruptcy, and divorce. The…

  • Litigation Consulting - QuickRead Top Story

    From Forecast to Flawed Assumptions and a Speculative Basis: Court Dismisses Accounting Expert’s Testimony in Packaging Lawsuit

    June 4, 2025

    Daubert motions are commonly raised to exclude experts. In this article, the author underscores the importance of questioning a client’s representations and documenting the basis for damages calculations. The failure to do so exposes the expert to challenges on the basis that the opinion is flawed because it is based on speculation and questionable assumptions. Bon Appetit Danish and Bon Appetit Specialty Snacks, renowned for their baked goods across Los Angeles and beyond, sought to streamline their packaging process through automation. The goal was to modernize the wrapping of items like donuts, muffins, breads, and cakes using advanced equipment. In…

  • Litigation Consulting - QuickRead Top Story - Valuation/Appraisal

    Unimpeachable Certainty in the Age of Digital Distortion and Artificial Intelligence: Trust but Authenticate

    May 21, 2025

    This 20th article in the Unimpeachable Neutrality series explores why and how valuation and forensic accounting experts may need to evolve toward a new standard: unimpeachable certainty. Neutrality, once the highest standard of expert credibility, must now be supplemented with verifiable authentication practices to ensure that expert conclusions are not built upon fabricated realities. Neutrality without authentication has become not a virtue, but a risk; a structural weakness that can be exploited. This evolution marks a pivotal moment for our profession. Those who remain static, clinging to an outdated conception of unimpeachability, will find themselves undermined not by cross-examination, but…

  • Financial Forensics - Litigation Consulting - QuickRead Top Story

    Reducing Privacy Fine Exposure on the Cheap: (With the Help of ChatGPT)

    May 14, 2025

    In this article, the author provides three versions of a data retention policy that appears compliant with GDPR or NIST. After taking NACVA’s cybersecurity course, a student reached out to me asking for a Data Retention Policy template that would be compliant with the statutes and frameworks discussed in the course, such as the National Institute for Standards and Technology (NIST) Cybersecurity Framework or the EU’s General Data Protection Regulation (GDPR). I thought this may be a good question for large language models because the subject matter is old enough that there is a sufficiently large amount of material available…

  • Litigation Consulting - QuickRead Top Story

    Price Isn’t Right: Inside the Expert Battle Over Kroger’s Pharmacy Discounts

    May 7, 2025

    What does “usual and customary price” mean? How does a plaintiff challenge such a broad assertion in a class action? What will a defendant assert to discredit a plaintiff’s expert? This article discusses the Daubert motion brought forth in Kirkbride v. The Kroger Co. and provides notice to how a challenge may unfold in other class action suits that have a similar underlying claim(s). In a closely watched ruling, a federal court allowed expert testimony to proceed against Kroger over claims it concealed lower prescription prices. At the center of it is a deceptively simple term, “usual and customary price”…

  • Litigation Consulting - QuickRead Top Story - Valuation/Appraisal

    Understanding the Income Approach: Forecasting Errors

    April 9, 2025

    One of the common pitfalls in applying the income approach is committing forecasting errors. To understand the impact of this error, this article discusses the importance of the income approach in business valuations and areas that require careful evaluation. One of the common pitfalls in applying the income approach is committing forecasting errors. To understand the impact of this error, let us first discuss the importance of the income approach in business valuations. Unlike the asset-based approaches, which primarily focus on the value of a company’s tangible assets, the income approach considers the earning potential of the business. This is…

  • Litigation Consulting - QuickRead Top Story

    Measuring Damages Involving Individuals: What is an Injured Party Worth?

    April 2, 2025

    The Forensic and Valuation Services division of the AICPA and CIMA issued a Practice Aid in 2020 on Measuring Damages Involving Individuals. This Practice Aid supersedes AICPA Forensic and Valuation Services Practice Aid 98-2, Calculation of Damages from Personal Injury, Wrongful Death, and Employment Discrimination. This NACVA QuickRead article provides a summary of the updated Practice Aid. Introduction The Forensic and Valuation Services division of the AICPA and CIMA issued a Practice Aid in 2020 on Measuring Damages Involving Individuals. This Practice Aid supersedes AICPA Forensic and Valuation Services Practice Aid 98-2, Calculation of Damages from Personal Injury, Wrongful Death,…

  • Litigation Consulting - QuickRead Top Story - Valuation/Appraisal

    Unimpeachably Neutral Professional Judgment: Is AI the Death of Professional Judgment or its Reincarnation

    March 19, 2025

    Only with careful oversight and the application of seasoned professional judgment can AI deliver results that are not only accurate but also defensible and unimpeachably neutral. This article in the Unimpeachable Neutrality Series explores the indispensable role of professional judgment, particularly as it intertwines with the capabilities of AI. The advent of artificial intelligence (AI) has brought a seismic shift to the field of valuation and forensic accounting. Data that once required weeks of meticulous analysis can now be processed in mere minutes. While AI’s outputs relative to financial modelling can be impressive, their reliability hinges on the neutrality and…

  • Litigation Consulting - QuickRead Top Story

    Estimating Lost Profits for a Self-Employed Business: What are a Self-Employed Person’s Earnings? What are Their Profits?

    March 5, 2025

    This article will discuss some of the unique factors relating to assessing lost profits for self-employed operated businesses. As examples, two extremes will be discussed. These extremes provide virtual bookends when assessing a claim of lost profits by a self-employed person. The first addresses a self-employed person who reports his/her income through a Schedule C, Sole Proprietor. The second addresses self-employed individuals that own and operate a subchapter S corporation and file an 1120S for that business. Financial experts will often be asked to estimate the lost earnings or lost earning capacity for an injured self-employed person. This type of…

  • Litigation Consulting - QuickRead Top Story - Valuation/Appraisal

    You Want the Valuation Experts to Reconcile: Are You Prepared for the Outcome?

    February 19, 2025

    What can parties in a litigation case do when the experts come to differing opinions of value? The authors share ways that parties and counsel can reconcile the differences or at least reduce the value gap. It sounds great—if the valuation experts can resolve their differences, a trial might be avoided, saving time and money. This strategy is not without peril, and clients may even find themselves unexpectedly bound by an agreement or terms they did not expect. This article covers what ensues when opposing legal counsels agree for the experts to meet, including how to manage the expectations and…

  • Litigation Consulting - QuickRead Top Story

    The Benefits of Involving a Financial Expert in Mediation: Speaking from Experience

    February 13, 2025

    Mediation aims for parties to mutually resolve their dispute. Unlike litigation and arbitration, there is no trier of fact that determines the conclusion of a dispute. Instead, the mediator, a neutral third party, tries to help all parties meet at an amicable middle ground, which can be done through creative means of communication, collaboration and problem solving. The author shares his experience serving as a financial mediator. Mediation aims for parties to mutually resolve their dispute. Unlike litigation and arbitration, there is no trier of fact that determines the conclusion of a dispute. Instead, the mediator, a neutral third party,…