Why Some Forensic Accountants Get Hired & Others Don’t

The Forensic Accounting Deskbook by Miles Mason, Sr. JD, CPA, published by the ABA Family Law Section

For a much more detailed discussion, see The Forensic Accounting Deskbook: A Practical Guide to Financial Investigation and Analysis for Family Lawyers, Second Edition, authored by Miles Mason, Sr. and published by the ABA Family Law Section.  This updated edition of one the ABA’s most popular resources explains the practice of forensic accounting and business valuation and how to apply it in family law cases. It provides a practice-focused introduction to the core financial concepts in divorce, such as asset identification, classification, and valuation, income determination, expenses, and more.

VIDEO TRANSCRIPT:

Tracy Coenen:             Can you talk to us a little bit about some of the characteristics or skills that you look for in an expert when you’re thinking about the potential for testimony?

Miles Mason:              Absolutely. I’m looking for a calm witness, because to me, calm is credible. Confident. Obviously I’m looking for a forensic accountant, and I think most people would expect a forensic accountant to be precise in their language, in their cadence, in their report. I’m looking for a forensic accountant that, or an expert witness that, just oozes judgment. Judgment is a function of experience and just having been there, done that.

I’m looking for a witness who’s very intentional, taking things one step at a time, progressing through an engagement and explaining that work in the courtroom in the context of both the report and oral testimony. I’m looking for somebody that’s very dedicated to the profession, may have all the credentials that you’d expect to see. That’s been to the conferences, the leading conferences from the various organizations around the country, as well as reading, writing, maybe even having spoken at some of those conferences, presented seminars to lawyers. But I’m also looking for somebody that’s independent, that’s going to be able to avoid any issues with bias.

Thank you to Tracy Coenen, CPA, CFF for inviting me to join her in this video series. Tracy is a nationally recognized forensic accountant practicing in Milwaukee and Chicago.