- NY Credits : 4.0
- TX Credits : 4.0
Introduction to Litigation Services
Litigation and dispute resolution matters arise out of disputes involving two or more persons or entities. It is important that a practitioner understands the various litigation and dispute resolution services an accountant can provide. This program will introduce the practitioner to civil litigation and explain the differences between civil trials and criminal trials. It will cover various areas including: domestic and divorce cases; fraud investigations and forensic accounting; securities claims; lost profits and business interruption; damage calculations for individuals; business reorganizations and bankruptcy proceedings; construction costs and claims; and other damage calculation areas for the accounting expert. The program will conclude by outlining the basic techniques needed to manage a litigation services practice.
Upon successful completion of Introduction to Litigation Services, the user should be able to:
explain basic terms used in litigation matters and be able to discuss the role of an expert witness in the litigation process, discuss the four requirements for qualifying as an expert witness under the Federal Rules of Evidence Rule 704,
recognize the various litigation and dispute resolution services that an account can provide, identify the differences between a consulting expert and a testifying expert and pinpoint the conflicts of interest that may arise when accepting an engagement,
identify issues applicable to the accounting expert in domestic/divorce cases, recognize tax considerations in family law, and characterize the indicators of fraud in family law cases,
recognize the obligations that investment brokers have to their clients, distinguish between unsuitable investment and speculative investments, and recognize how churning is measured,
identify lost revenues and any other losses that a business may incur due to the acts of another party, be able to recognize reductions to losses that must be determined, and label extra expenses in lost profit and business interruption claims,
identify various damage claims involving individuals, and recognize the different ways that damages are calculated,
recognize the differences between a Chapter 7 bankruptcy and a Chapter 11 bankruptcy, identify the priority of various claims in bankruptcy, and distinguish transfers by a debtor that may be voided by the bankruptcy trustee,
recognize the situations where construction claims may occur and identify the damages that may be included,
select the reasons arson claims may be denied by insurance companies, recognize how to determine material misstatements of fact, determine how the accountant may be of assistance to either party in an insurance claim, and identify tax issues that apply to damage awards and settlement payments, and
recognize the basics of managing a litigation services practice.