20
/ November
2016
AICPA Tips for Testifying Experts
Appraisers working on litigated disputes face special challenges. Several workshops at the recent AICPA conference in Nashville provided insights and survival tips that benefit both the seasoned financial expert witness and the upstart.
One session of note explored trends in Daubert challenges to financial expert testimony emerging from a 16-year study of post-Kumho Tire cases. The analysis showed that, in 2015, accountants faced the highest number of challenges and had the highest exclusion rate. Appraisers and economists were in second and third place. The study also discussed what side (plaintiff or defendant) faced the most challenges and the most exclusions and which of the three Daubert factors was the most common reason for exclusion.
A different workshop gave tips on how experts can make themselves attractive to hiring attorneys and how their work product can withstand attacks from the other side. One takeaway is that nothing beats knowing the applicable professional standards and guidelines as well as the pertinent case law.
Learn more about both panel discussions here.
One session of note explored trends in Daubert challenges to financial expert testimony emerging from a 16-year study of post-Kumho Tire cases. The analysis showed that, in 2015, accountants faced the highest number of challenges and had the highest exclusion rate. Appraisers and economists were in second and third place. The study also discussed what side (plaintiff or defendant) faced the most challenges and the most exclusions and which of the three Daubert factors was the most common reason for exclusion.
A different workshop gave tips on how experts can make themselves attractive to hiring attorneys and how their work product can withstand attacks from the other side. One takeaway is that nothing beats knowing the applicable professional standards and guidelines as well as the pertinent case law.
Learn more about both panel discussions here.