If you represent a
financial institution as a client or you work for the institution itself and
there’s a call for an audit, you have a lot on your plate to make sure the
audit is as accurate as possible — especially if the audit is part of a larger,
ongoing legal case or investigation. It may not immediately come to mind to
call in a third party financial expert witness, but in the vast majority of
bank audits, hiring an expert witness is a smart move.
Comparisons to Similar Cases
The right litigation
support specialist has decades of experience in the finance industry and
can easily reference similar cases to support your client’s case. In the event
of problems found during the audit, you need your case ready to support causes
and solutions for the error so your business is affected minimally. An expert
witness can review similar cases that ruled favorably for the financial institution
to help make the bank’s case.
Better Organization
The more organized
your records, the easier your audit will go. An expert can help you identify
all of the records necessary to make the best case for the bank. He can also
provide tips for going forward and implementing different practices to make record-keeping more straightforward and the need for audits less likely from now
on.
Depositions
If an audit leads to
or is already part of a court case, an expert witness provides an independent
professional’s expertise as a witness during the case or even during a
deposition. With the right testimony, a deposition alone can lead to settlement
instead of a trial.
Contact the offices of
Michael F. Richards in the event of an audit, even if government representatives
or court-assigned officials are performing the audit itself or even if the
process has already begun. He can also help a financial institution prepare for
a possible audit even if there’s no immediate call for one. A more organized
system will ensure audits go more smoothly.
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