In litigation, the issue is whether the expert can explain the analysis, the data, and the judgment that produced the opinion. AI can accelerate parts of that process, but it does not remove the expert’s responsibility for the conclusion. Therefore, the question addressed in this article is where AI can assist without taking ownership away from the expert. A valuation expert can arrive at the stand with years of experience, a detailed model, and a carefully prepared report. However, the expert may stumble when asked to explain an input that came from an AI tool and cannot explain why that…
-
-
Parties to litigation proceedings are often required to disclose their personal spending. The information provided to the Court may require certification that the information is complete, true, and accurate under penalty of perjury, yet often based, at least in part, on estimates. This article shows how a few simple steps can achieve the desired results without the costs, time, or guesswork. Parties to litigation proceedings are often required to disclose their personal spending. The information provided to the Court may require certification that the information is complete, true, and accurate under penalty of perjury, yet often based, at least in…
-
AI is pervasive and promises to fundamentally transform business operations, education, and daily life. However, functional insights bridging the gap between AI and our industry have been lacking. The authors share their views on the ethical and professional standards implicated from the use of AI in forensics and valuation engagements. This article explores the need for, or lack thereof, to disclose the use of artificial intelligence (AI) technology in the fields of business valuation and financial forensics. AI is pervasive and promises to fundamentally transform business operations, education, and daily life. However, functional insights bridging the gap between AI and…