Vident Partners provides vetted Accounting & Auditing expert witnesses for cases involving GAAP and GAAS departures, audit failures, financial statement fraud, restatements, and professional negligence claims against accountants. Request a referral today.
Find a Accounting & Auditing Expert →Overview
Accounting and auditing experts evaluate financial reporting and audit work against Generally Accepted Accounting Principles (GAAP) and Generally Accepted Auditing Standards (GAAS). The AICPA Auditing Standards Board issues Statements on Auditing Standards (SAS) that constitute GAAS for non-public company audits, governing auditor objectives, risk assessment, evidence, and professional skepticism. 1 They are retained to determine whether financial statements were materially misstated, whether auditors complied with professional standards, and whether departures contributed to losses. For public company audits, the PCAOB establishes auditing standards under the Sarbanes-Oxley Act of 2002, and its standards govern the work of registered public accounting firms. 2 Their analysis examines workpapers, internal controls, revenue recognition, and disclosure adequacy. In litigation they opine on the standard of care, the cause of restatements, and the role of accounting treatment in alleged fraud or negligence. The AICPA Certified in Financial Forensics (CFF) credential designates CPAs with specialized expertise in forensic accounting and litigation support. 3
The PCAOB, established by the Sarbanes-Oxley Act of 2002, establishes auditing standards for registered public accounting firms and inspects their compliance to protect investors and the public interest.
Case Types
Audit failure and auditor negligence claims
Financial statement fraud and misstatement
GAAP and GAAS departure disputes
Restatements and revenue recognition issues
Accountant professional liability claims
Qualifications
Related Specialties
FAQ
A qualified accounting and auditing expert is a Certified Public Accountant (CPA) in good standing, frequently holding forensic credentials such as Certified in Financial Forensics (CFF) or Certified Fraud Examiner (CFE). They should have substantial experience in public accounting, auditing, or financial reporting, along with prior deposition and trial testimony in accounting and audit malpractice litigation.
Cases involving audit failures and auditor negligence, financial statement fraud and misstatement, GAAP or GAAS departures, restatements and revenue recognition issues, and accountant professional liability frequently require an accounting and auditing expert to evaluate the work against professional standards.
In general, financial expert fees are determined by the expert themselves, based on a variety of criteria. Among those criteria are professional experience, forensic experience, professional certifications, industry specialization, and publications. Vident does have some influence over expert fees by comparing experts within a specialty, but ultimately it is a personal decision by the expert.
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Vident Partners connects attorneys with qualified accounting & auditing expert witnesses. Complimentary consultation, 24-hour turnaround, no obligation.
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