Page 56 - Expert Witness

1. Request production of financial documents and other information that the parties to the lawsuit
want to analyze, gather , or preserve

2. Advise on suitable questions for interrogatories related to various accounting matters at issue or
in dispute, such as information recorded or reported in financial statements or books and records

3. Assist with depositions in the form of (a) advising on questions for the opposing party’s financial
and accounting witnesses or experts or (b) facilitating the understanding of terminology and the
bases of the accounting issues, facts, generally accepted accounting principles (GAAP) at issue
or in dispute

Information Seeking Interviews:

1. Gain an understanding of the organization’s accounting and reporting process based on individu-
al roles, responsibilities, and perspectives

2. Gather perspective of the internal audit department, audit committee members, or external audi-
tors regarding pertinent financial or accounting issues or disputes

Document Management:

1. Extract data from electronic devices (data-mining), such as ensuring complete revenue recogni-
tion or reviewing master files

2. Secure electronic evidence

3. Retrieve financial data

4. Store and categorize or file financial and accounting information (hard or soft copy)

Third Party Corroboration:

1. Verify an organization’s representations through confirmation requests of third parties, such as
financial institutions, suppliers, or vendors

2. Compare client or organization metrics to external metrics, such as industry benchmarks

Settlement:

1. Assist with settlement terms and negotiations, especially in regard to accounting terms and
GAAP

2. Oversee payments, such as structure settlement payments, to plaintiffs in class-action settlements

Cast Assessment:

1. Perform case evaluation to assist parties in realizing the strengths and weaknesses of their law-
suit positions and potential resolutions

2. Analyze GAAP issues or disputes

3. Determine the potential merits of a case involving professional liability (accounting malpractice)

54 © 2020 Association of International Certified Professional Accountants