Developing and managing a litigation services practice

Litigation services is one of the fastest growing consulting areas for CPAs. An increasingly complex business world and the corresponding need by attorneys and the courts for expert assistance have expanded the role of the accountant in litigation. CPAs are called on to quantify financial issues via accountings, fraud investigations, and damages--including valuations. CPAs are also needed to explain financial transactions such as funds tracings, bankruptcy-related issues, and financing matters. The field represents an exciting and potentially profitable addition to your accounting practice. As in a traditional accounting practice, the successful CPA in this field possesses sound accounting, financial, and economic analysis skills. The litigation field and the legal environment also require creativity, quick thinking, and skillful articulation of findings in court--traits and skills not necessarily part of every CPA's portfolio. This book explores how the CPA can effectively employ these traits and skills. It also addresses why serving as an objective expert or witness benefits current litigation clients as well as the CPA's reputation and practice. This book explores how the CPA can effectively employ these traits and skills. It also addresses why serving as an objective expert or witness benefits current litigation clients as well as the CPA's reputation and practice. In Developing and managing a Litigation Services Practice, the extensive personal experience of the authors is distilled into practical guidance for the novice and the experienced practitioner alike. Discussion of a particular area is made concrete and applicable by the authors' use of "practice tips," which give proven approaches and solutions to real situations encountered in a litigation services practice. The book is divided into seven chapters: two that provide an overview of the field and the CPA's role, two that cover developing and managing a practice, and three that address a actual practice aspects--researching the case, communicating with the attorney, testifying as an expert witness, and applicable professional standards and guidance from recent court decisions. Sample engagement letters, questions, and index make this a true resource for the CPA.