If you’ve ever been involved in a legal case, you may have heard of a finance expert witness. But what does this person do? What is their job and how is it paid? And what about Daubert challenges? What are the fees for hiring a finance expert witness? Let’s find out. Listed below are some things to keep in mind when hiring a finance expert witness.
Communication skills of a finance expert witness
A good finance expert witness should be able to clearly explain their findings, both in testimony and written opinions. If the financial expert has good communication skills, it is possible to obtain a referral from a trusted colleague. Ideally, the expert should be able to explain accounting concepts and case theory to laypeople with ease. Using “what if” scenarios and examples are useful ways to apply advanced financial concepts. These are all important skills to possess as a financial expert witness.
The most important communication skill of a finance expert witness is the ability to explain complex concepts in layman’s terms. If the expert witness lacks good communication skills, technical issues may be misinterpreted. In addition, good communication skills enhance the understanding of expert findings and increase the likelihood of agreement. In an arbitration, the expert witness may be more detailed in their communication, but without losing confidence. Communication skills may be an important factor in the ultimate outcome of the case.
Applicants for the position of finance expert witness should possess a strong education in … READ MORE ...