If forensic accounting is sexy, litigation support is hot - and CPAs who offer these specialty services are finding their firms' business boiling over into new areas.Being retained by legal counsel to give an expert opinion is at the core of litigation support, a subset of forensic accounting. The two fast-growing niches are very much related, but experts say that forensic accounting is more of an umbrella term that encompasses litigation support.
"I think people are apt to confuse the use of the term forensic accounting with what is litigation support," said Kenneth Neumann, CPA, CFE and director of litigation, valuation and technology services at RGL Forensic Accountants and Consultants in Chicago. "Litigation support is really a niche within the broader investigative forensic accounting. I think that's my only concern within the industry. We're still developing the language."
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