Chris Davis Testifies at Trial as Accounting Expert for Defendant CPA Firm
Updated: Aug 29
Financial Evidence Group's Chris Davis served as the defendant's accounting expert in an accountant malpractice case and recently testified at a jury trial in Los Angeles Superior Court. Chris was retained by counsel for an international CPA firm who audited and reviewed the financial statements of a publicly held company. The allegations against the CPA firm stemmed from the audit client's CEO's admitted misappropriation of company funds.
The trial concluded with a successful outcome for the defendant in terms of damages awarded, which amount came below the offer from defendant via the California Code of Civil Procedure 998 made several months prior to trial (a rejection of a 998 offer followed by a damage award at trial that is lower than the 998 offer has further unfavorable financial consequences to the plaintiff). Additionally, a Motion for Nonsuit is also pending to be ruled upon by the presiding judge in October 2023.
Chris had the rare experience of attending the vast majority of the trial and considered the opportunity an experience of a lifetime. The jurors appeared locked in to Chris's testimony as Chris, who was the last witness called to the stand, explained the facts in conjunction with the relevant professional standards while teaching the jury the important distinctions between a financial statement audit and a fraud examination. Chris also assisted counsel in rebutting plaintiff's damages which were ultimately considerably reduced (by 80%) in the jury's award.
Financial Evidence Group congratulates counsel representing the defendant CPA firm for their successful and brilliant representation of their happy client.