Expert witnesses in a financial dispute are extremely valuable. These professionals allow counsel to understand the underlying mechanics of the dispute. They also give insight as to the direction of the case. The expert will condense a vast amount of information into an understandable summary. However, an expert’s report should always be reviewed by the opposing side and rebutted for inaccuracies.
At Hovland Forensic & Financial, we have experience in the rebuttal expert witness reports.
Credentials of the Opposing Expert: First, we examine this professional’s specialization. Are they predominately tax accountants? Do they have experience in auditing and internal controls? Are they an economist rather than a Certified Public Accountant (CPA)? Do they have other designations?
Supporting Information in the Report: There are few standard report formats. However, all reports should have supporting information for the data included. We review all schedules in the report and determine whether there is support for everything included.
Methodology the Expert Used: Some reports, such as lost profits, should be predicated on accepted methodologies. We review the report to determine which methodology is used.
Information Made Available to Opposing Expert: We will review the information the opposing expert had available to them and see if all transactions were accounted for in the report.
After a review of the report and information, we will document in our rebuttal report:
When it comes to complex litigation, don’t assume an expert report is correct. Challenge the report.
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