Forensic Accounting and Fraud Examination, 2nd Edition

15Consulting, Litigation Support, and Expert Witnessing: Damages, Valuations, and Other Engagements

The modules, along with the learning objectives for this chapter include:

• Module 1 provides an overview of the types of engagements typically found in forensic accounting, as well as guidance on issues encountered in consulting, litigation support, and expert witness engagements. Module 1 has one overarching objective: To introduce the reader to the various types of forensic accounting engagements and the resources available to assist the professional in this area.
• Module 2 dives deeper into commercial damages, which typically require consideration of lost profits, as well as incremental revenues and expenses associated with generating lost profits. Two detailed examples are provided to help readers apply the concepts to hypothetical case facts. The goal of Module 2 is for readers to be able to articulate the essentials of commercial damages examinations, as well as apply those concepts to evidentiary material.
• Module 3 examines valuations. Valuations are used in a large number of engagement scenarios including commercial litigation. While valuation engagements focus on an examination of the underlying data and the application of appropriate interest rates, premiums and discounts, estimates of value can become complex. The learning outcomes for Module 3 include the ability to identify common techniques associated with valuations and apply those to case facts and circumstances. ...