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

A Financial Perspective and Overview of Marital vs. Separate Property in Divorce-Part 1
A Financial Perspective and Overview of Marital vs. Separate Property in Divorce

Part 1: Property Classification

When attorneys think about financial experts, they often think about reports, depositions, and trial testimony. Yet many of the valuable contributions a financial expert can make occur much earlier in the case. In matters involving valuation, income determination, or forensic accounting, earlier expert involvement may help counsel identify key financial issues, assist in discovery, evaluate settlement positions, among others.
Mercer Capital’s Kathryn Burke to Participate in the ABA’s 38th Annual Family Law Trial Advocacy Institute
Mercer Capital’s Kathryn Burke to Participate in the ABA’s 38th Annual Family Law Trial Advocacy Institute
Mercer Capital is pleased to announce that Kathryn Burke, CPA, ABV, will participate in the American Bar Association’s 38th Annual Family Law Trial Advocacy Institute, taking place July 17-25, 2026, at UMKC School of Law in Kansas City, Missouri. Burke will serve as a volunteer expert at the Institute and a leader of the “Using the Financial Expert to Prepare for Trial, Parts I and II” sessions.The ABA’s Family Law Trial Advocacy Institute is a hands-on trial training program focused on core courtroom skills, including opening statements, direct and cross-examination, exhibits, closing arguments, and trial preparation. The program also uses a fictional family law fact pattern and culminates in a mock trial experience.Ms. Burke has forensics and litigation support experience for marital dissolution, economic damages, shareholder disputes, and general litigation. As a member of Mercer Capital’s Litigation Support Practice Group, she is a contributor to the Family Law Valuation and Forensic Insights newsletter.In addition, she also has valuation experience in engagements related to corporate planning and reorganizations, financial reporting, fairness opinions, litigation support, employee stock ownership plans, mergers and acquisitions, and estate and gift tax planning and compliance matters.Prior to joining Mercer Capital, Ms. Burke was a Senior Consultant at FORVIS, LLP in their Forensics and Valuation Services practice. Mercer Capital regularly supports attorneys and clients with financial analysis in family law matters, including business valuation, income analysis, and forensic accounting. The firm is proud to support programs that help family law professionals strengthen the financial tools they bring to trial.Additional information about the event is available on the ABA website: https://events.americanbar.org/event/dc3698db-c62d-4104-b764-1f9013b8d31c/summary
ILPA’s New Continuation Vehicle Guidance: Process Is the New Price Protection
ILPA’s New Continuation Vehicle Guidance: Process Is the New Price Protection
ILPA’s June 2026 draft Continuation Vehicle Guidance shifts the focus in GP-led secondary transactions from simply validating price to ensuring a transparent, well-governed sale process.

Cart

Your cart is empty