Lost profits analyses are an acceptable and common remedy to measure economic damages in commercial civil disputes. Developing a credible opinion on lost profits analyses requires the financial expert to carefully consider the documentation and assumptions utilized to support the analyses. Learn more about the common steps of producing a credible lost profits analyses in this recent article written by Baker Tilly forensic, litigation, and valuation services experts.
Highlights to include
- Proper planning
- Determining the proper damages period
- Estimating the relevant lost revenues and avoided costs
- Obtaining sufficient reliable data to support the financial expert's analyses, assumptions, and opinions.
A financial expert's role is to provide a credible opinion regarding lost profits economic damages in a legal setting. Although attorneys can be advocates for their client's positions, credible financial experts must demonstrate integrity and objectivity when presenting their professional opinions.
For more information on this topic, or to learn how Baker Tilly forensic, litigation, and valuation specialists can help, contact our team.