At the core of any lawsuit involving valuation is a claim of financial loss, fraud or unfairness, and a desire to be made whole. The forensic accountant is called upon to investigate and analyze financial information and reach a conclusion upon which a litigant may rely. It seems a straightforward assignment. Consider though, that most of the cases which involve valuation will never be tried. Often, they are best left out of the public courtroom because privacy may be of paramount concern, or the dispute is tied to emotions not addressed, or indeed exacerbated by the traditional adversarial process.
Lastly, and perhaps, most obviously, sooner or later, most cases settle. For the parties, a settlement avoids the pitfalls of trial, and provides finality and control. As a result, business valuation disputes are commonly mediated. Therefore, the forensic accountant you retain may be one of the most important people in the room.
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