Forensic Economics

The DMC Group's forensic economic services assist attorneys and insurance companies in:

  • Valuing economic damages in personal injury matters.
  • Valuing economic damages in matters of, the death of a spouse, parent, child or other family member.
  • Quantifying economic losses involving wrongful discharge, age and gender discrimination, sexual harassment, failure to promote, and other employment-related matters.
  • Computing lost profits in commercial damages or a business interruption.  

Forensic Economics and Accountng

Forensic economics and forensic accounting are two distinct yet complementary fields that each play a unique role in legal and financial analysis. Forensic economics primarily focuses on the application of economic theories and methods to legal issues, particularly in the assessment of pecuniary damages. This involves taking a broader view, and examining how economic factors such as lost earnings, business valuations, and market trends impact financial outcomes in legal cases.

On the other hand, forensic accounting delves deeper into the financial specifics. Forensic accountants closely scrutinize financial documents such as profit and loss statements, balance sheets, and other transactional records. Their primary goal is to uncover financial misrepresentations, fraud, embezzlement, or discrepancies in financial statements. While forensic economics is concerned with assessing the overall economic impact of a legal issue, forensic accounting is more about tracing, uncovering, and understanding the intricate details of financial records.

In summary, forensic economics deals with the macroeconomic implications of legal issues, while forensic accounting focuses on the detailed examination of financial records. Both disciplines are crucial in providing comprehensive financial analysis in legal contexts.