Financial expert witness communication : a practical guide to reporting and testimony PDF
Preview Financial expert witness communication : a practical guide to reporting and testimony
Financial Expert Witness Communication The Wiley Corporate F & A Series provides information, tools, and insights to corporate professionals responsible for issues affecting the profi tability of their company, from accounting and fi nance to internal controls and performance management. Founded in 1807, John Wiley & Sons, Inc. is the oldest independent pub- lishing company in the United States. With offi ces in North America, Europe, Asia, and Australia, Wiley is globally committed to developing and marketing print and electronic products and services for our customers’ professional and personal knowledge and understanding. Financial Expert Witness Communication A Practical Guide to Reporting and Testimony BRADLEY J. PREBER Cover image: ©iStock/SoulOfAutumn Cover design: Wiley Copyright © 2014 by John Wiley & Sons, Inc. All rights reserved. Published by John Wiley & Sons, Inc., Hoboken, New Jersey. Published simultaneously in Canada. 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For general information on our other products and services or for technical support, please con- tact our Customer Care Department within the United States at (800) 762-2974, outside the United States at (317) 572-3993 or fax (317) 572-4002. Wiley publishes in a variety of print and electronic formats and by print-on-demand. Some material included with standard print versions of this book may not be included in e-books or in print-on- demand. If this book refers to media such as a CD or DVD that is not included in the version you purchased, you may download this material at http://booksupport.wiley.com. For more information about Wiley products, visit www.wiley.com. Library of Congress Cataloging-in-Publication Data: Preber, Bradley J., author. Financial expert witness communication : a practical guide to reporting and testimony/Bradley J. Preber. pages cm.—(Wiley corporate F&A series) Includes bibliographical references and index. ISBN 978-1-118-75355-2 (hardback)—ISBN 978-1-118-75383-5 (ePDF)— ISBN 978-1-118-75385-9 (ePUB)—ISBN 978-1-118-91177-8 (oBook) 1. Forensic accounting—United States. 2. Evidence, Expert—United States. I. Title. KF8968.15.P74 2014 347.73’67—dc23 2014007535 Printed in the United States of America 10 9 8 7 6 5 4 3 2 1 Dedicated to my wife, Lois, and my children, Heather and Cameron, with thanks to the many great professionals I have worked with over the course of my career. Contents Disclaimer xiii Foreword xv Preface xix Acknowledgments xxiii PART I: DISPUTE RESOLUTION AND THE FINANCIAL EXPERT Chapter 1: Value of the Financial Expert in Litigation and Dispute Resolution 3 Why Be a Financial Expert Witness? 3 Value of the Financial Expert Witness under Federal Rules 4 Enhancing Value Using the Litigation Process 13 Coming Up 14 Notes 14 Chapter 2: Roles Suited for the Financial Expert 17 The “Big Three”: Liability, Causation, and Damages 17 Financial Expert Assignments 19 Roles for the Financial Expert 20 Matters Suited for the Financial Expert 21 Financial Expert Litigation Services 22 Coming Up 27 Notes 27 Chapter 3: Retention of the Financial Expert 29 Finding Financial Experts 29 Prospective Client Due Diligence 35 vii viii ◾ Contents Pre-Engagement Communications 39 Selection of the Financial Expert Witness 42 Coming Up 44 Notes 44 Chapter 4: Getting Started as a Financial Expert 45 Getting Started 45 Coming Up 61 Notes 61 Chapter 5: Civil Litigation and Dispute Resolution Processes 63 Civil Litigation Actions and Proceedings 63 Alternative Dispute Resolution 71 Coming Up 72 Notes 72 PART II: FINANCIAL EXPERT RULES, CASE PRECEDENT, AND ETHICS Chapter 6: Federal Rules of Evidence for the Financial Expert Witness 77 Evidentiary Rules on Expert Witness Opinions and Testimony 77 Scientifi c, Technical, or Other Specialized Knowledge 79 Coming Up 94 Notes 94 Chapter 7: Federal Rules of Civil Procedure for the Financial Expert Witness 97 Procedural Rules on Expert Witness Reporting and Testimony 97 Coming Up 105 Note 105 Chapter 8: Basic Litigation Knowledge for the Financial Expert Witness 107 Laws and Rules 107 Legal Precedent 113 Orders 117 Court Rules and Policies 121 Privileged Communications 121 Professional Standards 122
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