Financial Litigation Clinics
Co-Sponsored by the National Association of Certified Valuators and Analysts®
Deep Dives into the Leading Financial Litigation Areas of Practice
Unlike most financial litigation training that tends to be general in scope, these programs are a deep dive into methodologies, approaches, investigative techniques, communication skills, and practice building strategies that are being employed by successful and emerging financial litigation analysts.
- Bankruptcy, Insolvency, and Restructuring
- Business Valuation in Litigation
- Business and Intellectual Property Damages
- Business Interruptions and Lost Profits
- Commercial Damages and Lost Profits
- Cybersecurity
- Forecasting and Modeling
- Matrimonial Litigation
- Personal Injury
- Wrongful Death
A Certificate of Educational Achievement (CEA) will be awarded to course attendees for each Financial Litigation Clinic who successfully complete and pass a short quiz administered at the conclusion of each day.This Financial Litigation Clinic focuses on work that practitioners may be called upon to perform when working in bankruptcy, reorganization, and insolvency. It is structured to provide a solid introduction to the laws, regulations, and administrative aspects of corporate bankruptcy, and culminates with forensic financial analysis and the litigation environment.
- Differentiate the specific valuation standards, approaches, methods, and issues relating to distressed and/or restructured businesses and related litigation
- Select the financial and regulatory reporting issues regarding distressed businesses
- Identify the accounting issues that arise before, during, and after reorganization, including “fresh start” accounting
What You Will Cover
| Self-Study Course | |||
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CPE: 15 Hrs |
Price: $932/$839 Members Purchase the Self-Study here. This course qualifies for NASBA QAS Self-Study credit. Purchasers also receive a copy of Bankruptcy and Insolvency Accounting, Volume 1: Practice and Procedure by Grant W. Newton with free domestic shipping. |
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For additional NASBA sponsorship information, including refund, complaint, and/or program cancelation policies, click here.
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This Financial Litigation Clinic focuses on the dynamics of business valuation conclusions and calculations in the context of litigation, controlling professional standards, notable case law, differing approaches to reporting in litigation, traditional and situation-specific standards of value, and other key issues impacting BV in litigation.
How You Will Benefit
After completing this course, attendees will be able to:
- Identify standards of value and approaches peculiar to shareholder disputes and other related litigation-based valuations
- Identify legal concepts relating to business valuation in professional engagements
What You Will Cover
| Self-Study Course | |||
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CPE: 15 Hrs |
Price: $932/$839 Members Purchase the Self-Study Course here. This course qualifies for NASBA QAS Self-Study credit. |
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For additional NASBA sponsorship information, including refund, complaint, and/or program cancelation policies, click here.
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This Financial Litigation Clinic focuses on the legal foundations, methodologies, best practices, and current trends in business damages and infringement of patents, trademarks, copyrights, and other intellectual property.
- Differentiate between the similarities and differences in utility patent, design patent, trademark, copyright, and trade secrets damages
- Select valuation concepts to intellectual property damages
- Identify the basic components to address in an intellectual property damages expert report
| Self-Study Course | |||||||
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CPE: 15 Hrs |
Price: $932/$839 Members Purchase the Self-Study Course here. This course qualifies for NASBA QAS Self-Study credit. |
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For additional NASBA sponsorship information, including refund, complaint, and/or program cancelation policies, click here.
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This Financial Litigation Clinic focuses on the foundations and fundamentals of business income and extra expense damages information provided. It includes alternative approaches and methodologies, notable insurance policy sections, foundational evidence and research sources, and reporting guidelines and strategies embraced by the most effective business damages experts.
What You Will Cover
Part 1: Planning the Business Interruption Engagement
This part discusses who can represent the insured in a business interruption loss claim and why. We will discuss the beginning stages of the business interruption loss claim engagement from initial contact with the adjuster and the insured, gathering data, site visits, as well as discussing and deciding on the insured’s best plan of action during the period of restoration.
How You Will Benefit
After completing this course, attendees will be able to:
- Identify what items to discuss with and what documents to get from the public adjuster
- Identify what items to discuss with and what documents to get from the insured
- Identify how the policy will impact the policyholder during the damage period
Part 2: Business Interruption Policy Differences
Business interruption claims can vary drastically due to the type of damage and company involved. In many cases, the policy itself determines how the damage claim will be determined and how the policyholder should proceed. This part will discuss the relevant policy language and what it means to the policyholder as well as the financial expert when determining damages.
How You Will Benefit
After completing this course, attendees will be able to:
- Interpret relevant business interruption policy language
- Determine whether a policy covers extra expense
- Explain how the policy will impact the policyholder during the damage period
Part 3: Period of Restoration
In many cases, damages exist during the period of restoration. This part focuses on how to determine the period of restoration, the damage period, as well as an overview of how damages will be determined.
How You Will Benefit
After completing this course, attendees will be able to:
- Identify the time-period covered by the period of restoration
- Construct top down and bottom up damage calculations
- Analyze what is covered during the damage period or extended damage period
Part 4: Types of Business Interruption Calculations
This part discusses the two methods of business interruption loss claim calculations, how they are calculated, and their differences. We will discuss the definition of extra expenses and learn to identify which extra expenses are acceptable and unacceptable in a business interruption/extra expense claim. We will go through a case study using both the Net Income and Gross Profit Methods of business interruption/extra expense calculations.
How You Will Benefit
After completing this course, attendees will be able to:
- Identify and describe the two methods of business interruption loss claim calculations
- Distinguish the differences between the two methods of business interruption calculations
- Define what are extra expenses
- Distinguish the difference between acceptable and non-acceptable extra expenses in the business interruption claim
- Calculate the business interruption/extra expense loss using both the Net Income and Gross Profit Methods
Part 5: Business Interruption Claim Opportunities
Business interruption claims occur frequently throughout the country due to natural disasters and other covered causes. Learn about the opportunities to assist with business interruption claims, the extent of losses from recent natural disasters, and how financial experts have become involved in these engagements.
How You Will Benefit
After completing this course, attendees will be able to:
- Identify common business interruption opportunities
- Define the relevant damages based on the impact of common natural disasters
- Determine ways to serve as a financial damage expert in business interruption claims
| Self-Study Course | |||
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CPE: 14 Hrs |
Price: $870/$783 Members Purchase the Self-Study Course here. This course qualifies for NASBA QAS Self-Study credit. Purchasers also receive a copy of Measuring Business Interruption Losses and Other Commercial Damages: An Economic Approach, 3rd Edition with free domestic shipping. |
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For additional NASBA sponsorship information, including refund, complaint, and/or program cancelation policies, click here.
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This Financial Litigation Clinic focuses on the foundations and fundamentals of business damages measurement, including alternative approaches and methodologies, notable code sections and case law, foundational evidence and research sources, and reporting guidelines and strategies embraced by the most effective business damages experts.
How You Will Benefit
- Apply the traditional methodologies used for economic damages
- Explore and evaluate alternative approaches in the measurement of damages
- Apply models used in the measurement and presentation of economic damages
- Identify sources of information, economic, and industry data
- Integrate the use of statistical and economic concepts into damages models
- Discuss case law that impacts damages measurement
What You Will Cover
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In this Financial Litigation Clinic, learn how to effectively manage a financial investigation from start to finish. The focus will be on the nuts and bolts of conducting a fraud investigation, teaching practical forensic accounting techniques to prove what happened, who was involved, how much money is gone, and where the money went. Evidence management, analytical tools, presentation of findings, and testifying in court will also be covered.
- Understand the classification of fraud schemes and some of the most common financial frauds
- Identify documents and evidence necessary to complete a fraud investigation
- Apply investigative techniques in fraud investigations
- Present the results of a financial investigation in writing and through testimony
What You Will Cover
- Brief introduction to fraud and core concepts: fraud triangle
- Occupational fraud schemes: types of schemes, characteristics of them, statistics
- Signs of fraud: accounting irregularities, control weaknesses, change in behavior or lifestyle, etc. (i.e., how do you know that you might have a fraud on your hands)
- Evaluating fraud tips
- Skills of a fraud investigator: typical backgrounds, education, licenses
- Differences between audits and investigations
- Beginning an engagement: types of engagements, civil versus criminal
- Working with attorneys and other experts
- Professional standards and guidance
- Assessing the engagement: what services does the client need, are you qualified, who is suspected, when can we start, what documents are available, etc.
- Engagement letters: including budgets, fees, and what to include in the engagement letter
- Obtaining evidence: subpoenas, interrogatories, discovery requests
- Document production: assisting with discovery requests, dealing with deficient productions, etc.
- Discovery issues
- Assembling the team: key participants, company insiders, outside consultants
- Management and supervision of staff
- Work programs and checklists
- Federal rules of evidence regarding expert witnesses
- Types of evidence: direct versus circumstantial
- Commonly overlooked documents
- Managing and preserving evidence: chain of custody, document logs, controlling access to documents, key documents file
- File maintenance
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Searching for fraud: starting the investigation depending on whether there is already known fraud or whether there is uncertainty about fraud
- Analytical review and financial ratios
- Common accounts used to hide fraud: write-offs, adjustments, miscellaneous, etc.
- Issues with manual disbursements
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Investigative techniques
- Sources of information: internal records, private records, public records
- Background checks: corporate, individual
- Relationships between people: case study on skip tracing
- Public records sources and searches
- Surveillance
- Digital data analysis: case study on Bedford’s law
- Computer forensics
- Interviewing
- Confirmation with customers and vendors
- Being creative in investigations
- Data analysis: qualitative and quantitative analysis
- Reviewing financial statements and records
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Investigation of asset misappropriation schemes: what is the scheme, what are the red flags that it is occurring, how might it be detected, techniques used to investigate it
- Cash receipts schemes: skimming, larceny, check kiting
- Cash disbursement schemes: expense report theft, register disbursement, check/EFT tampering, vendor schemes, shell companies, billing schemes, pay and return, payroll fraud
- Non-cash schemes: inventory theft, equipment theft, trade secrets/customer info theft, misuse of company assets
- Case study on asset misappropriation
- Preventing asset misappropriation
- Investigation of corruption schemes: bribes, kickbacks, extortion, conflicts of interest, related party transaction, money laundering, FCPA
- Preventing corruption
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Investigation of financial statement fraud
- Revenue overstatement
- Channel stuffing and round tripping
- Asset overstatement
- Liability and expenses understatement
- Reserve manipulation
- Misrepresentation or omission of information
- Improper recording of mergers and acquisition
- Off balance sheet schemes
- Use of judgment and estimates by management
- Preventing financial statement fraud
- Investigation of external fraud schemes: corporate espionage, investment/pyramid schemes, securities fraud, hidden income or assets, insurance fraud, bankruptcy fraud, elder abuse
- Writing your report: what to include/exclude, explaining contradicting evidence
- Things to include: background of case, documents analyzed, procedures performed, opinions, attachments
- Presenting evidence: using data visualization, charts, graphs (inclusion of words, pictures, numbers)
- Draft reports
- Making a mistake: what to do if you make a mistake in the report and discover it later
- Opposing expert reports: analysis, response, using it to support your own report, some engagements only include this element
- Responding to a motion in limine/Daubert challenge
- Deposition: how to prepare, demeanor, how to answer questions, what to do with unexpected questions, what if you make a mistake
- Trial: how to prepare, direct examination, cross examination, presenting to judges and juries
- Being prepared for an appeal
- Maintaining file materials after resolution of the case
- Professional liability issues
- Alternative dispute resolution: participating in settlement conferences, mediation, arbitration
- Follow-up by victim: what to do with your results (internal discipline, civil action, criminal action, prevention activities, etc.)
| Self-Study Course | |||
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CPE: 15 Hrs |
Price: Non-Members: $932; Members: $839 Purchase the Self-Study Course here. |
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For additional NASBA sponsorship information, including refund, complaint, and/or program cancelation policies, click here.
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How You Will Benefit
- Analyze cybersecurity risk factors for an organization
- Identify the different actors involved in cybercrime
- Determine the deliverables of a business e-mail compromise scam
- Summarize the digital forensics process
- Diagram the scope of a cybersecurity engagement
- Identify the different risk management frameworks
- Analyze cybersecurity risk factors for an organization
- Recognize state, national, and global statutes regarding cybersecurity
- Distinguish caveats and pitfalls of cybersecurity assessments
- Identify the different actors involved in cybercrime
- Differentiate different types of cybercrime
- Detect victims and liability extensions for cybercrime driven by damage, regulation, or contract
- Evaluate damages associated with a cybercrime incident
- Assist counsel in depositions, subpoenas, and requests
- Identify the cycle of business e-mail compromise scams
- Determine the deliverables of a business e-mail compromise scam
- Recognize indicators of a business e-mail compromise scam
- Summarize methods for prevention in an organization
- Specify the scope of a business e-mail compromise investigation for different purposes (e.g., civil, criminal, or an insurance claim)
- Summarize the digital forensics process
- Recognize deliverables for each step in the digital forensics process
- Identify how to engage a digital forensics expert
- Compare statutes that govern digital forensics investigations
- Diagram the scope of a cybersecurity engagement
- Distinguish risks to the financial expert of a cybersecurity engagement
- Discuss recent trends in calculations and liability for cybercrime incidents
| Self-Study Course | |||
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CPE: 15 Hrs |
Price: $932/$839 NACVA Members Self-Study Course Coming Soon |
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How You Will Benefit
- Identify the three fundamental forecast models
- Identify the frequency distributions of data which conform to Benford's Law
- Construct a scatterplot graph of ordered pairs of data
- Evaluate the probabilities of the financial model outcomes and identify the optimum and obtainable outcomes
- Identify statistical fallacies common to legacy approaches, methods, and data analysis
- Identify the three fundamental forecast models
- Design and implement a systematic and ordered approach to developing a financial forecast model
- Apply methods for testing the precision of the forecast model against historic financial data
- Calculate and interpret forecasting errors
Day 2: Understanding and Applying Benford's Law
- Identify the frequency distributions of data which conform to Benford's Law
- Identify the minimum data set size, number magnitude, and characteristics conforming to Benford's Law
- Define the primary digit(s), Advanced and Associated tests for data deviations from the Benford proportions
Day 3: Regression Analysis: Construction and Interpretation
- Calculate correlation coefficients and coefficient of determination
- Evaluate the strength of the relationship between the independent and dependent variable(s)
- Construct a scatterplot graph of ordered pairs of data
- Identify the limitations and common errors in applying regression analysis
- Perform Ordinary Least Squares (OLS) simple regression
- Interpret regression output statistics including Regression Statistics Table, ANOVA Table, and Regression Coefficient Table
- Apply statistical measures to historic financial data
- Develop a financial model based on the relational measurements intrinsic to financial accounting data
- Evaluate the probabilities of the financial model outcomes and identify the optimum and obtainable outcomes
- Identify the statistical measures which are fundamental to financial analysis and financial modeling
- Apply the fundamental statistical measures to historic financial data and market studies
- Explain statistical methods in calculating precision, confidence levels, and statistical significance
- Identify statistical fallacies common to legacy approaches, methods, and data analysis
Any analyst preparing prospective forecast models for start-up, capital budgeting, merger-acquisition, business valuation, or prospective financial damages (individual or commercial).
| Self-Study Course | |||
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CPE: 10 Hrs |
Price: $663/$597 NACVA Members Self-Study Course Coming Soon |
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For additional NASBA sponsorship information, including refund, complaint, and/or program cancelation policies, click here.
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Matrimonial Litigation
This Financial Litigation Clinic focuses on the complete process of matrimonial litigation support, including determining support, valuing assets, and distribution of assets. Also covered are the valuation of marital assets, including closely held business and stock options, taxes for divorce and distribution, asset distribution, and practice management issues.
How You Will Benefit
- Identify ways to investigate financial records to uncover hidden assets and unreported income
- Identify how to perform an analysis of household spending
- Identify appropriate valuation approaches and methods in family law matters
- Identify and implement optimal property distribution strategies
- Identify tax consequences related to income, support, and property distribution
What You Will Cover
- Identify the different structures of matrimonial disputes
- Explain child support calculations
- Summarize alimony and maintenance calculations
- Describe the effects of bankruptcy on alimony
- Evaluate state level property distribution differences
- Evaluate how to assist counsel in depositions, subpoenas, and requests
- Determine appropriate calculation methods for determining income
- Summarize asset tracing considerations and assumptions
- Evaluate net worth for the purpose of division
- Identify alternative calculation methods
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Apply computer assisted audit tools and techniques (CAATT) in matrimonial disputes
- Identify indicators of concealed assets
- Locate public information from open sources
- Describe common income misrepresentations
- Summarize examples of document request lists
- Specify an efficient matrimonial engagement
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Apply adjustments including Moore/Marsden calculations, Watts charges, and Epstein credits
- Identify different premises of value (going concern and liquidation)
- Identify different standards of value and the requirements for defense and selection
- Summarize valuation approaches (asset, income, market, and hybrid)
- Produce appropriate visualizations for summary
- Identify valuation factors for simple digital asset holdings (such as bitcoin)
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Apply special considerations for a Marvin action
- Summarize pre-TCJA Act Alimony rules required for Pre 2019 agreements opened for reconsideration
- Explain post-TCJA Alimony rules
- Report about IRC Sec. 1041, Tax Free Transfer of Property Pursuant to a Divorce
- Identify how to handle the marital residence
- Demonstrate how to file options pre- and post-divorce
- Explain New Child Tax Credits
Price
| Self-Study Course | |||
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CPE: 15 Hrs |
Price: $932/$839 Members Purchase the Self-Study Course here. This course qualifies for NASBA QAS Self-Study credit. |
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For additional NASBA sponsorship information, including refund, complaint, and/or program cancelation policies, click here.
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Personal Injury
How You Will Benefit
After completing this course, attendees will be able to:
- Identify the methodologies used to calculate compensatory and punitive damages
- Differentiate between economic losses and non-economic losses
- Identify the opinion of value of damages, including pre-judgment interest
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This Financial Litigation Clinic focuses on the elements and process of calculating damages in cases involving wrongful death. Damages covered include lost earnings or lost economic support, lost benefits, lost future medical expenses, and lost household services. The clinic concentrates on the most recent literature and sources of information on multiple topics in these areas.
What You Will Cover
Part 1: Intro to Wrongful Death: Economic Theory, Law, and Finance I
Part 2: Intro to Wrongful Death: Economic Theory, Law, and Finance II
Part 3: Calculating Damages in Wrongful Death I
Part 4: Calculating Damages in Wrongful Death II
Part 5: Calculating Damages in Wrongful Death III
How You Will Benefit
After completing this course, attendees will be able to:
- Identify the steps for calculating a but-for earnings stream, benefit rates, worklife expectancy, and the value of personal consumption
- Determine appropriate discount rates, appropriate tax rates, and present value of future medical expenses
- Identify and value lost household services
| Self-Study Course | |||
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CPE: 15 Hrs |
Price: $932/$839 Members Purchase the Self-Study Course here. This course qualifies for NASBA QAS Self-Study credit. |
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For additional NASBA sponsorship information, including refund, complaint, and/or program cancelation policies, click here.
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