A financial expert’s job is to assess damages and trace them back to the defendant’s misconduct. Loss of profits is often a measure of damages. Many factors can cause these losses, such as increased competition, rising costs, patent expiration, product obsolescence, regulatory constraints, and industry changes. A financial expert’s role is vital to the success of a legal case.
Credentials
The skills and experience needed to be an excellent financial expert witness are varied, but the most important requirements are a thorough knowledge of finance, accounting, and criminal investigations. They should also be familiar with fraud and fraudulent activity. A financial expert witness may also have furthered their education by pursuing forensic accounting or a similar field. Nevertheless, it is always recommended to seek out the assistance of an experienced expert witness before hiring one.
To determine the suitability of an expert, a client must first consider the credentials of … Read more
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