Economic Damages Practice HKA’s Forensic Accounting and Commercial Damages team provides economic and financial analyses and expert witness testimony in complex disputes worldwide. Our economic damages experts have a wealth of specialist knowledge and experience providing litigation support services rooted in proven economic and statistical methods and data analytics.
Why an economist?
Statistical sampling
Economists bring a unique perspective to forensic accounting and commercial damages matters. They apply their background in empirical analysis to assess financial issues, use their knowledge of economic theory to solve complicated problems, and give clear and presentable answers. As the size, complexity, and cost of litigation involving large data sets and extensive documents increase, clients can significantly benefit from the support of economists in their disputes.
Our experts use statistical sampling to enhance our Economic Damages practice. Statistical sampling, or the non-discriminatory selection of points within a data set to generate estimates for the whole, can provide crucial insights for clients facing complex litigation matters. From transaction analysis and liability estimations to internal investigations and intellectual property valuations, statistical sampling can significantly bolster damages calculations and assessments.
Pre-litigation damages assessment
Statistical fraud detection
HKA experts assess damages claims prior to litigation to provide clients with a comprehensive understanding of the risks and costs. Pre-litigation assessments use data analytics and financial analysis to identify risk and mitigate uncertainty. Early evaluation of complex litigation matters can help clients gain a clearer understanding of potential outcomes and strategize effectively.
HKA’s consultants use statistical fraud detection to identify irregular behaviors and outliers that may indicate fraud. We leverage predictive and regression analyses, anomaly detection, clustering and classification algorithms, text mining, and data matching to support internal investigations.
Statistical method assessment and rebuttal
Preliminary economics damages consultants evaluate the enforcement assessment Our validity of the data, measurement, and statistical A preliminary enforcement assessment is specifically targeted at determining the parameters affecting an enforcement investigation and potential areas of exposure. We use a variety of sampling and analytical methods to help determine the potential of a successful enforcement action before it happens.
methods used in litigation approaches. For clients involved in disputes, an assessment of the methods and tools applied on both sides can significantly enhance confidence and mitigate risk in complex disputes.
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