What is the role of a finance expert witness? These experts must be knowledgeable about accounting and finance theory and have experience applying that knowledge to facts. A finance expert witness must be well-versed in financial theory and accounting to help attorneys and juries make sound decisions. They also must be willing to serve as a liaison between the parties, which is often required in litigation. Once hired, a finance expert can help litigants win cases by analyzing complex financial statements and establishing a connection between wrongful conduct and damages.
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Role of a Finance Expert Witness
A finance expert witness’ expertise in financial matters is a critical part of many litigation cases. Because of the intricate financial details involved in business and investment decisions, these experts can be invaluable in courtrooms. Typically, finance expert witnesses assist in evaluating, compiling, and testing financial evidence. They can also interpret financial data and present findings to the court. An experienced financial expert witness can be an asset for either side of the litigation.
An experienced financial expert witness has more than 15 years of experience offering depositions, arbitrations, and court testimony. They have testified in superior courts before the Securities Exchange Commission and U.S. District Courts in California, Massachusetts, and New York. They have also given depositions before federal courts, including the Southern District of New York, Texas, and North Carolina.
An expert witness with over thirty years of experience in the field is an excellent choice for cases involving financial issues. Expert witnesses with this background should have a background in financial planning, asset valuation, and forensic economics. They should also know the complexities of the financial world and the nuances of financial statements. In addition, they must be knowledgeable about the laws and regulations surrounding financial matters and be able to communicate the findings clearly to a jury.
Opinions are based on observed and discovered facts
An expert witness’s opinion will be based on several factors, including observed and discovered facts. While they make several assumptions based on the facts and figures, they observe that developing a document request list that addresses each of these aspects is essential. Observed facts include historical financial statements, production reports, and revenue. These facts establish the nature of the business before the damage event, and the financial expert may use the historical data to estimate what the business would do in the absence of the damage event.
