Financial Damages Experts Opine on Auditing Firm Negligence

Finance Expert WitnessThis is a professional negligence case against a large auditing firm. The defendant firm was performing the audits for a property insurance firm in Texas. Insurance companies are required to maintain a certain amount of liquidity, however the property insurance firm had been operating without adequate cash reserves. It was alleged that the auditing firm was approving transactions off of the balance sheet that made non-cash assets look like cash. As a result of this, an eventual investigation into the insurance company’s financials caused the firm to fold within a matter of weeks, leaving thousands unemployed.

Question(s) For Expert Witness

  • 1. What experience do you have as a damages expert?

Expert Witness Response E-038768

I would be pleased to review this case and I can prepare an estimate of damages in this matter. I have been evaluating economic damages in matters such as this since 2003. My testimony and consulting experience includes the valuation of commercial damage claims including lost profits and business valuation, as well as economic damages for personal injury, wrongful death, medical malpractice and marital dissolution matters. I have a Ph.D. in Economics and have been qualified as an expert for purposes of testifying regarding economic damages. Further, I’ve been qualified and have testified regarding a loss of business value/business valuation which may be an issue in this case. As part of my doctoral education, I specialized in the field of Health Economics which included the study of health insurance markets including Medicare and third party insurance.

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