- A large, multinational professional services provider with over $20B in annual revenues turned to Baker Tilly to address a number of accounting and compliance related issues including alleged Cost Accounting Standard (CAS) violations, multiple open Incurred Cost Submission (ICS) years, and difficulty providing financial support related to governmental audit questions on indirect rates and contract costs.
- The analysis of case law surrounding the challenges to lost profits claims involving new businesses does not establish any hard and fast rules.
- The role of a damages expert is not always clear. In many matters, the damages expert may be asked to assume that a causal linkage between the liability issues and damages exists.
- Case law demonstrates that reliance on client supplied information is frequently an issue subject to challenge in litigation.
- Reasonably certain damages analyses ensures the analyses are anchored in facts, use sound methodologies, and yield reasonable results.
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