Business and Finance

When you consider hiring an expert witness in finance for a money laundering case, consider a few things. In addition to the expert witness finance qualifications, the report must be technically accurate and include analysis and technically related material. The report should also summarize multiple calculations and references losses cumulatively and incrementally. Finally, the report must explain the calculations and conclusions to clients, opposing counsel, and the trier of fact.

Fees for expert witnesses in finance

When negotiating expert witness fees, ask the retaining attorney to agree to a retainer amount of a significant amount. This retainer may be non-refundable, but it is typically held as collateral for regular billing and is deducted from the last invoice upon completion. If the retaining attorney complains about the retainer amount or takes more time to pay it, you may want to consider a larger retainer.

The fee for the expert’s services depends on the specific nature of the case. The typical fee for financial litigation is PS50 per hour, while rates for tax litigation can reach PS1,200 per hour. The top range for fees is usually reserved for the best experts, but rates can be higher in some disciplines due to shortages … Read more