The American Institute of Certified Public Accountants’ (AICPA) Forensic and Valuation Services (FVS) Section, collaborating with the Advancement of the American Legal System (IAALS) at the University of Denver, has issued Another Voice: Financial Experts on Reducing Client Costs in Civil Litigation.
The FVS Executive Committee and IAALS offer five recommendations to the legal community to increase the effective and efficient use of financial experts in the civil litigation process:
- Judges should implement early and consistent active case management.
- Clients and attorneys should involve experts early in the process.
- Attorneys should target, focus and streamline expert depositions and discovery.
- Attorneys’ Daubert-like challenges should be appropriately targeted and acted upon promptly by the court.
- Attorneys and the court should develop a process for the collaboration and cooperation of opposing experts where appropriate.