Expert Witnesses and Reliable Methods

Under the Federal Rules of Evidence, an expert witness is required to use reliable principles and methods in coming to expert opinions. In this video, Tracy discusses the rule and how it might apply to a damage calculation done by an expert witness.

Lifestyle Analysis in Divorce Cases: Investigating Spending and Finding Hidden Income and Assets

Tracy Coenen, author of “Lifestyle Analysis in Divorce Cases: Investigating Spending and Finding Hidden Income and Assets,” shares her insight on uncovering financial details to ensure that divorce settlements are fair and equitable. A forensic accountant and fraud investigator, Coenen wrote the book to arm lawyers with a powerful tool when valuing and dividing property in complex divorce cases.

Daubert Challenges For Expert Witnesses

Expert witnesses frequently run into Daubert challenges, through which opposing counsel is trying to prevent the witness from providing expert testimony at trial. Tracy Coenen talks about how she handles Daubert challenges in her litigation practice.

Judges and Financial Issues

How much does your judge really understand about financial issues? Will he or she be able to sort out cases with complex accounting and finance scenarios? Tracy Coenen and Miles Mason discuss how your expert witness can help the judge understand.

Why Retain a Forensic Accountant in Your Divorce Case?

divorce financial analysisOne of the hot new things in the area of divorce, especially for high net worth clients, is using a law firm that has forensic accountants on staff. Sometimes the divorce attorneys themselves have credentials in the area of forensic accounting, such as a CPA license, CFE (Certified Fraud Examiner) credential, or CFF (Certified in Financial Forensics) credential.

These law firms tout a number of advantages of retaining them:

  • Expertise in financial matters, including business valuations, tax law, and forensic accounting
  • Ability to investigate the value of financial assets
  • Skills necessary to perform a lifestyle analysis

The Forensic Accountant as Consultant

Family Advocate – ABA Section of Family Law Magazine
Winter 2014

By Tracy L. Coenen

Download a pdf of this article here.

Forensic accountants are usually retained in family law cases as expert witnesses, with the intention that they will provide expert opinions and testimony on behalf of the client. Although retention as a consultant is less common, it is an important option to consider. Sometimes, the work of the consultant can be even more important than the work of the testifying expert. The consultant may be able to dig deeper into sensitive issues because there is no fear of testimony or of disclosing the consultant’s work.

Maintaining privilege
One of the biggest benefits to retaining a consultant is the fact that the consultant’s communications and work product enjoy privilege. Because the consultant is essentially an extension of the law firm, the identity of the consultant, the scope of work, the evidence examined, and the results of the work need not be disclosed to opposing counsel. (Note that documents examined by the consultant may very well need to be disclosed as part of the discovery process, but the consultant’s work or impressions of the documents should not be disclosed.)

Is a Damages Expert Required?

Damages experts are a routine part of litigation, as the issue of financial losses is often complicated. A variety of subject matter experts and financial experts are a standard feature in litigation to sort out the issues and help judges and juries understand the numbers. But what if there is no damages expert? Can a proper award of damages be made?

In an opinion issued this spring, a judge in federal court in the District of New Jersey granted defendant’s motion for summary judgment on plaintiff’s claim for damages.

Unicom Monitoring, LLC was granted summary judgment its patent infringement claims against Cencom, Inc.  The plaintiff alleged that it could prove the revenue and profits earned by Cencom related to the infringement, and the reasonable royalty that Unicom was entitled to because of the infringement.

Litigation Work For Accountants

Why might an accountant providing traditional tax or auditing services want to branch out into litigation work? There are lots of opportunities for expert witnesses, and the work is interesting. Watch the video below for Tracy Coenen’s commentary on this topic.

Expert Fraud Investigation
Lifestyle Analysis in Divorce Cases
CPA's Handbook of Fraud and Commercial Crime Prevention
Essentials of Corporate Fraud
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