Expert Opinion
Definition
A conclusion that requires the analyst's professional judgment, for example that a series of transactions was designed to circumvent internal controls. It must be clearly labelled as opinion and the reasoning supporting it must be disclosed.
- Field example
- Forensic accounting: transactions structured to bypass controls
- Requirement
- Must be clearly labelled as opinion, not fact
- Support required
- Underlying reasoning must be disclosed
- Distinguished from
- Objective findings, e.g. a documented transaction amount
Common questions
Why must an expert report separate opinion from fact so explicitly?+
A fact, such as a ledger showing a transfer, is verifiable independently of the analyst, while an opinion reflects professional judgment applied to those facts. Blurring the two lets a reader mistake inference for established fact, weakening cross-examination and credibility.
Can an expert opinion be challenged in cross-examination even if the underlying facts are accurate?+
Yes. Opposing counsel can accept every underlying fact and still attack the reasoning connecting those facts to the conclusion, for example by proposing an innocent alternative explanation for the same transaction pattern.
Related terms
- Factual Finding
- A statement supported directly by identified source documents, such as a specific transaction recorded in a ledger, which the report can prove...
- Investigative Report
- A report addressed to a client, board, or regulator, typically prepared under legal professional privilege. It may include recommendations, attorney work product,...
- Litigation-Support Report
- A report addressed to a court and signed by a named expert, structured to comply with procedural rules of expert evidence such...
- Scope of Work
- The defined boundary of the engagement: which entities, accounts, periods, and questions the expert examined. Anything outside the scope is not commented...
- Work-Product Doctrine
- A rule protecting materials prepared by or for an attorney in anticipation of litigation. It is broader than attorney-client privilege and covers...