In the world of valuation, particularly at the intersection of professional judgement and AI, this 21st article of the Unimpeachable Neutrality Series begs the question now facing us: what kind of AI guardrails should exist? And how do we keep them from becoming runaway lanes, or worse, launchpads, into unintended consequences?| QuickRead | News for the Financial Consulting Professional
The level of sophistication used by fraudsters continues to increase. Fraudsters are using voice recognition and voice swapping, as well as other generative AI tools that continue to evolve. It is critical to constantly reassess internal controls and understand how AI is used and misused. In this article, the author shares some of the schemes used and issues a challenge to entities as well as to accounting and fraud examiners.| QuickRead | News for the Financial Consulting Professional
The importance of strong internal controls cannot be overstated. They form the foundation for financial integrity, operational efficiency, regulatory compliance, and, ultimately, long-term business success. This article explores how strong internal controls not only safeguard against fraud but also serve as a catalyst for business growth and sustainability.| QuickRead | News for the Financial Consulting Professional
The authors share personal stories regarding the challenges they have faced in cases that involve people with diagnosed and undiagnosed narcissists disorders. Men and women with this disorder are especially challenging and the authors share what they have learned to mitigate the damage a person with this disorder may have in a case.| QuickRead | News for the Financial Consulting Professional
Daubert motions are commonly raised to exclude experts. In this article, the author underscores the importance of questioning a client’s representations and documenting the basis for damages calculations. The failure to do so exposes the expert to challenges on the basis that the opinion is flawed because it is based on speculation and questionable assumptions.| QuickRead | News for the Financial Consulting Professional
Your primary source for news and information in the areas of business valuation, appraisal, financial forensics, healthcare consulting, and other related areas.| QuickRead | News for the Financial Consulting Professional
In this article, the author provides three versions of a data retention policy that appears compliant with GDPR or NIST.| QuickRead | News for the Financial Consulting Professional
What does “usual and customary price” mean? How does a plaintiff challenge such a broad assertion in a class action? What will a defendant assert to discredit a plaintiff’s expert? This article discusses the Daubert motion brought forth in Kirkbride v. The Kroger Co. and provides notice to how a challenge may unfold in other class action suits that have a similar underlying claim(s).| QuickRead | News for the Financial Consulting Professional
One of the common pitfalls in applying the income approach is committing forecasting errors. To understand the impact of this error, this article discusses the importance of the income approach in business valuations and areas that require careful evaluation.| QuickRead | News for the Financial Consulting Professional
The Forensic and Valuation Services division of the AICPA and CIMA issued a Practice Aid in 2020 on Measuring Damages Involving Individuals. This Practice Aid supersedes AICPA Forensic and Valuation Services Practice Aid 98-2, Calculation of Damages from Personal Injury, Wrongful Death, and Employment Discrimination. This NACVA QuickRead article provides a summary of the updated Practice Aid.| QuickRead | News for the Financial Consulting Professional
Only with careful oversight and the application of seasoned professional judgment can AI deliver results that are not only accurate but also defensible and unimpeachably neutral. This article in the Unimpeachable Neutrality Series explores the indispensable role of professional judgment, particularly as it intertwines with the capabilities of AI.| QuickRead | News for the Financial Consulting Professional
This article will discuss some of the unique factors relating to assessing lost profits for self-employed operated businesses. As examples, two extremes will be discussed. These extremes provide virtual bookends when assessing a claim of lost profits by a self-employed person. The first addresses a self-employed person who reports his/her income through a Schedule C, Sole Proprietor. The second addresses self-employed individuals that own and operate a subchapter S corporation and file an 112...| QuickRead | News for the Financial Consulting Professional
What can parties in a litigation case do when the experts come to differing opinions of value? The authors share ways that parties and counsel can reconcile the differences or at least reduce the value gap.| QuickRead | News for the Financial Consulting Professional
Mediation aims for parties to mutually resolve their dispute. Unlike litigation and arbitration, there is no trier of fact that determines the conclusion of a dispute. Instead, the mediator, a neutral third party, tries to help all parties meet at an amicable middle ground, which can be done through creative means of communication, collaboration and problem solving. The author shares his experience serving as a financial mediator.| QuickRead | News for the Financial Consulting Professional
In a recent engagement, the author was asked to prepare a lost business analysis for an operating business. In this article, the author discusses when a lost profits vis-à-vis a lost business analysis is best suited.| QuickRead | News for the Financial Consulting Professional
Investigators need better ways to sift through vast quantities of data to find the information at the heart of the matter. This article examines a more efficient approach to complex investigations with Generative AI. The information in this article is intended to assist in determining the effectiveness of using GenAI in fraud and other complex investigations.| QuickRead | News for the Financial Consulting Professional
Blueprint Trial Consulting Strategies for Dealing with “Smoking Gun” Evidence| Blueprint Trial Consulting
