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In Cross-Examining a Financial Expert, fraud expert witness Mr. Henry J. Kahrs, CPA/ABV/CFF, CMA, CFE, CM of RGL Forensics writes:

The best way that attorneys can prepare for this important moment in the courtroom is to start with three primary steps. First, gain an understanding of the basic methodologies used in forensic damage analysis and the generally accepted processes employed in the application of the methodologies. Second, become familiar with records and resources available to the opposing expert in your case. And finally, take a comprehensive discovery deposition of the expert that locks down the opinions that will be offered at trial. Prepared with this foundation, you will be well armed to face the opposing financial expert.

Generally, there are three approaches to the cross-examination of a financial expert:

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Media expert witnesses may opine on mass media, music, television, and social media. In No “R” in Social Media Tom Morse, Media Communications Association Central Carolina Chapter President writes:

Even without use of spell checker, I know there isn’t an “R” in social media. But, communications professionals need to understand the return, and how they will evaluate the return, on investments in social media.

Measuring ROI for social media is part of the job. Social media is about more than just engagement and awareness. While social media is at the top of the sales funnel, there are still many ways to track and evaluate the return on investment. The process should begin with an agreement on how the organization will define the “R” in ROI is it awareness, leads, conversions, sales? Evaluation of social media is less about what can be done than what should be done. Identify the evaluation criteria, and then secure agreement with sales enablement and business executives on how social media will be evaluated. At this point in our understanding of social media, the criteria will be different from other activities such as advertising, trade shows, or speaking engagements. But, establish some criteria and process for assessing the payoff on investments in social media.

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Marketing expert witnesses may write reports and opine on branding, market studies, market analysis, and related topics. The American Marketing Association Board of Directors defines marketing as the “activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large” and marketing research.

Marketing research is the function that links the consumer, customer, and public to the marketer through information–information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the method for collecting information, manages and implements the data collection process, analyzes the results, and communicates the findings and their implications.

Read more: marketingpower.com.

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Felicia Miyakawa, associate professor of musicology and assistant director of Middle Tennessee State University School of Music, has been enlisted as an expert musicologist to testify in a copyright lawsuit against rapper Lil Wayne.

Lil Wayne, also known as Weezy, is being sued over his song “Mrs. Officer” that features singer Bobby V. Producer Michael “Mali Boy” Bradford is suing Lil Wayne, whose real name is Dwayne Michael Carter Jr., claiming that he made the track’s original beat but was not credited and compensated.

Read more: www.dnj.com.

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In Cross-Examining a Financial Expert, white collar crime expert witness Mr. Henry J. Kahrs, CPA/ABV/CFF, CMA, CFE, CM of RGL Forensics writes:

The trial’s going well, and you’ve arrived at a crucial point in the case: the cross-examination of the opposing financial expert. For many attorneys, this can be a watershed moment: how well you are able to cross-examine this expert, and convey the appropriate message to the jury or judge, can significantly impact the damages sought.

With their specialized training, financial experts can often have the advantage when facing a questioner inexperienced with complex financial terms or concepts. Attorneys may inadvertently interchange common language with “terms of art,” or use terms in ways that demonstrate a lack of familiarity with the theories of the discipline. Resulting answers from the expert may vary dramatically from the expected or, in the alternative, provide the expert with an opportunity to show his command of the topic. This can lead to confusion in the court, or give the opposing expert additional credibility.

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Insurance claims expert witnesses may opine on insurance policy interpretation, insurance fraud, and related topics. In 8 Great Ways to Get Busted for Auto Insurance Fraud, Insurance.com writes:

6. Include previous damage to your car in your loss report.

How could an investigator know when the damage happened? You’ve wanted to fix the dent in your door for a long time now, and this seems like the perfect opportunity. It’s not, because the SIU can use rust analysis and wear patterns to determine if the damage is new or old.

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In Standard for Technical Rescue, rescue expert witness Gerald M. Dworkin, Lifesaving Resources Inc., writes:

The National Fire Protection Association (NFPA) establishes standards for the Fire and Rescue industry. In February 2004, they published NFPA 1670: Standard on Operations and Training for Technical Search and Rescue Incidents. The purpose of this standard was to minimize threats to rescuers while conducting operations at technical search and rescue (SAR) incidents, and the standard deals specifically with identifying and establishing levels of functional capability for conducting technical rescue operations safely and effectively.

Lifesaving Resources Inc. advocates the need to conduct a Threat Assessment of the aquatics facility and the implementation of these principles within the Lifeguard and Aquatic Recreation Sector as follows:

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In Construction Hazards – Early Identification and Risk Control, electrical expert witness Gregory W. Miller, P.E., B.S.E.E, writes:

The tragedies associated with construction project losses give us the opportunity to reflect on the incident causes. In many cases we can use our hindsight to view the “coulda’s”, “shoulda’s” and “if-only’s” that might have made the difference early in the project. As a result of these necessary and sometimes profitable incident reviews, a tool has developed that is in use by many construction agencies. That tool we refer to as a “Hazard Identification Program”. It may also be known by other names, but the basic concept is the early identification and control of construction site hazards. The purpose for early identification is to facilitate the elimination or control of the hazard risk prior to construction mobilization.

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In When the Phone Rings … Twelve Questions for Prospective Expert Witness Assignments, insurance expert witness Kevin M. Quinley, CPCU, ARM, AIC, writes:

(12) How did you find me? The answer can be valuable “intel” about your marketing and where you get the most bang for your promotional buck. Did the lawyer find you through a paid ad, a directory, an Internet listing, a Google search, by word of mouth? How? Keep track of how you get referrals. Consider beefing up your investment in those media. This question helps you fine tune your business development efforts, though chances are you may want to have fishing lines in each of these marketing “ponds” to maximize the odds of getting calls.

This is not an exhaustive list, and some of these questions may be unnecessary, depending on what the prospective client covers in the initial discussions. Other consultants and experts may adapt this template to the needs of a particular case. Getting these questions out in the open and getting straight answers can help the expert make a fully informed decision about accepting a case and determining the appropriate pricing approach.

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