Litigation & Forensic Accounting Services
Updated: May 7, 2018
Clay Price & Associates, P.A. provide a broad range of litigation and forensic accounting services for commercial, family, damages, personal injury and criminal matters.
provides assistance of an accounting nature in a matter involving existing or pending litigation. It deals primarily with issues related to the quantification of economic damages. A typical litigation support assignment would be calculating the economic loss resulting from a breach of contract.
Assistance in obtaining documentation necessary to support or refute a claim.
Review of the relevant documentation to form an initial assessment of the case and identify areas of loss.
Assistance with Examination for Discovery including the formulation of questions to be asked regarding the financial evidence.
Attendance at the Examination for Discovery to review the testimony, assist with understanding the financial issues and to formulate additional questions to be asked.
Review of the opposing expert's damages report and reporting on both the strengths and weaknesses of the positions taken.
Assistance with settlement discussions and negotiations.
Attendance at trial to hear the testimony of the opposing expert and to provide assistance with cross-examination.
As Forensic Accountants, we utilize accounting, auditing and investigative skills when conducting an investigation. Equally critical is our ability to respond immediately and to communicate financial information clearly and concisely in a courtroom setting.
Other examples include securities fraud, insurance fraud, kickbacks and proceeds of crime investigations.
A Forensic Accountant is often retained to analyze, interpret, summarize and present complex financial and business related issues in a manner which is both understandable and properly supported.
A Forensic Accountant is often involved in the following:
Investigating and analyzing financial evidence
Communicating their findings in the form of reports, exhibits and collections of documents
Assisting in legal proceedings, including testifying in court as an expert witness and preparing visual aids to support trial evidence
Review of the factual situation and provision of suggestions regarding possible courses of action.
Assistance with the protection and recovery of assets.
Co-ordination of other experts, including:
Forensic document examiners;
Assistance with the recovery of assets by way of civil action or criminal prosecution.
In order to properly perform these services a Forensic Accountant must be familiar with legal concepts and procedures. In addition, a Forensic Accountant must be able to identify substance over form when dealing with an issue.
An examination of evidence regarding an assertion to determine its correspondence to established criteria carried out in a manner suitable to the court. An example would be a Forensic Audit of sales records to determine the quantum of rent owing under a lease agreement, which is the subject of litigation.