You receive a telephone call from an attorney who needs an expert witness for a business damages

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You receive a telephone call from an attorney who needs an expert witness for a business damages case. The at- torney represents the plaintiff (the injured party). You determine right away that you have no conflicts of interest with any of the parties and carry on with the initial discussion about the case. You learn that the lawsuit involves two companies that had a business relationship. Firm P had a contract with Firm D to sell goods, and the attorney tells you that Firm D breached the contract, causing Firm P to suffer economic damages. During the call, you discover that Firm P has never shown any net income on its financial statements. The attorney tells you that is what the financial statements say, but the business is not reporting all its revenues and, if it did, the firm would show a profit. 

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What do you say to the attorney?

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Related Book For  book-img-for-question

Essentials Of Forensic Accounting

ISBN: 12

2nd Edition

Authors: Michael A Crain, William S Hopwood

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