Despite your best efforts, if the unfortunate incident of fraud occurs, you need an arsenal of experts on your side. A certified public accountant is one of the must-haves for a civil or criminal fraud case to ensure that every financial detail is well researched and documented.
Expert in your corner
Fraud cases can involve anything from falsified financial statements to embezzlement, tax fraud and insurance scams. But typically they have one thing in common: They involve large amounts of complex financial documents. Experienced CPAs can help your legal team collect and summarize such documents, and they may be able to reconstruct lost or stolen records.
They also can be enlisted to analyze and translate financial data for attorneys, insurers and other interested parties. As a case moves forward, a CPA can assist with depositions, finding ways to frame questions that attorneys will ask witnesses. They’re skilled at spotting inconsistencies and flaws in witness testimony and evaluating the opposing side’s evidence for weaknesses or inaccuracies.
Confidence in court
Once a case gets to court, a CPA can serve as an expert witness to help shore up your position with a judge or jury. In general, courts aren’t interested in dry recitations of facts and figures. Good expert witnesses, therefore, put numbers in a framework that their audience can understand.
While those and other services will be useful in any legal proceeding, a CPA uses different skills in different types of cases. In civil actions, for example, plaintiffs must prove they suffered damages and then determine the extent to which the monetary loss from those damages was attributable to the defendant.
A CPA can create a damages model based on factors such as your executive compensation compared with that of other companies, investment rates of return or conditions that affect your business results. Using that model, the expert will determine monetary damages to your company.
Having a certified public accountant on your side can make your fraud case that much stronger and more defendable in court. For more information about how JLK Rosenberger can help, call us at 818-334-8623 or click here to contact us. We can work with your attorney to determine the best course of action in your particular matter.