Litigation & Dispute Resolution

April 14, 2020

AICPA Issues New Forensic Services Standard Effective January 1, 2020

Statements on Standards for Forensic Services (“SSFS No. 1”) are issued by the AICPA’s Forensic and Valuation Services Executive Committee. SSFS No. 1 provides guidance and establishes enforceable standards for members performing certain forensic and valuation services, specifically, for litigation and investigation engagements. These engagements are defined by SSFS No. 1 as follows:

  • Litigation. An actual or potential legal or regulatory proceeding before a trier of fact or a regulatory body as an expert witness, consultant, neutral, mediator, or arbitrator in connection with the resolution of disputes between parties. The term litigation as used herein is not limited to formal litigation but is inclusive of disputes and all forms of alternative dispute resolution.
  • Investigation. A matter conducted in response to specific concerns of wrongdoing in which the member is engaged to perform procedures to collect, analyze, evaluate, or interpret certain evidential matter to assist the stakeholders (for example, client, board of directors, independent auditor, or regulator) in reaching a conclusion on the merits of the concerns
Prior to the issuance of these standards, litigation and investigation engagements were covered by the AICPA Statement on Standards for Consulting Services No. 1 and the AICPA Code of Professional Conduct. As the need for forensic services has grown and evolved, SSFS No. 1 serves to protect the public interest and increase the level of consistency across the profession. The issuance of SSFS No. 1 reflects a consolidation of relevant forensic services standards into one single standard. These forensic standards are effective for engagements accepted on or after January 1, 2020. Ensure that your hired expert, if applicable, is aware of these new requirements and is aware of the applicable standards for the engagement. To download the Statement on Standards for Forensic Services click here.
Originally published in Mercer Capital’s Tennessee Family Law Newsletter, Volume 3, No. 1, 2020.
Author
Karolina Calhoun
Senior Vice President
Learn More

Continue Reading

Industry Spotlight: What Today’s RIA M&A Headlines Tell Us About Valuation
Industry Spotlight | What Today’s RIA M&A Headlines Tell Us About Valuation (and Succession)
In this reprint from our RIA Valuation Insights blog, we examine what current RIA M&A headlines reveal about valuation dynamics and succession trends.
Mercer Capital Sponsors the ABA 2026 Family Law Spring Conference
Mercer Capital Sponsors the ABA 2026 Family Law Spring Conference
Mercer Capital is proud to sponsor the American Bar Association Family Law Spring Conference, taking place in Washington, DC, April 15-18th, 2026. Karolina Calhoun, ASA, ABV, and Kathryn Burke will represent the firm at this year’s event.Hosted by the ABA Family Law Section, the Spring Conference brings together family law practitioners from across the country to discuss the legal and financial issues shaping the practice today. This year’s program includes sessions on business valuation in divorce, income analysis, tax considerations, and other topics that often arise in complex matrimonial matters.Mercer Capital works closely with attorneys and their clients on the financial aspects of family law cases. The firm provides business valuation, income analysis, and forensic accounting services in divorce and related disputes, helping clients understand the value of marital assets, evaluate cash flow for support, and navigate issues involving business ownership and financial reporting. Mercer’s analyses are designed to be clear, well-supported, and useful in both negotiation and litigation.Karolina Calhoun is a Senior Vice President at Mercer Capital and an experienced valuation professional specializing in litigation and family law matters. She provides business valuation and financial consulting services in the context of divorce, shareholder disputes, and other complex engagements. Karolina works closely with attorneys and their clients to analyze financial issues, deliver well-supported conclusions, and communicate findings clearly in both negotiation and courtroom settings.Kathryn Burke is a Senior Financial Analyst at Mercer Capital. She provides valuation and forensic services across a range of engagements, including litigation support, marital dissolution matters, financial reporting, and transaction advisory.Mercer Capital looks forward to engaging with attorneys and other professionals at this year’s conference. Additional information about the event is available on the ABA website: https://events.americanbar.org/event/c57cffc7-a626-4ef5-839c-0476cafc08d1/summary.
The Tariff Hangover: How a Year of Trade Volatility Is Reshaping Transportation
The Tariff Hangover: How a Year of Trade Volatility Is Reshaping Transportation
The past year has been defined by a series of rapid and often unpredictable shifts in trade policy. New tariffs, temporary pauses, retaliatory measures, and evolving global supply chains have left a measurable impact on the transportation and logistics industry. These developments have influenced freight volumes, pricing dynamics, capital allocation, and ultimately the valuation of transportation companies.

Cart

Your cart is empty