EWJ August 62 2025 web - Journal - Page 39
My 12 Top Tips to Consider
When Instructing an Expert
Witness in Financial Disputes
by Ms Fiona Hotston Moore
I have been instructed in hundreds of matters by
lawyers from across the UK and beyond. I am instructed on financial disputes including business valuations and commercial disputes. Occasionally, I
accept instructions directly from the client (litigants in
person). I am instructed as Single Joint Expert, Party
Expert, Shadow Adviser and also on matters of Expert Determination. Many lawyers and law firms have
returned to me and instructed me on several occasions. I am therefore well placed to give a view on how
you can select an expert and how you can help your
expert witness to do their job as effectively as you and
they would wish.
1. Choosing an expert
I recommend researching your expert’s expertise and
experience. Consider their technical expertise and
whether that expertise is sufficiently relevant to the
matter. For example, when valuing private companies, an experienced business valuer should be able to
value businesses across a broad range of sectors (only
a few sectors may need specialist knowledge or input).
However, if the matter relates to a commercial dispute
in a complex listed group, then you may need a sector specialist. Similarly, if you have a professional negligence claim in the area of audit, consider engaging
an expert who has been a statutory auditor as opposed to an accountant or forensic accountant with no
hands-on audit experience.
2. Experience of cross examination
Check if your expert has experience of giving
evidence in the witness box. Professionals moving into
expert witness work may not have experience of
giving evidence and, if this is the case, then consider
offering training with one of the specialist bodies.
3. Cost-proportionate
Clients and courts are keen to ensure costs are
proportionate. Inevitably, the costs of using experts
from large consultancies and from the Big Four will
reflect the overheads of those organisations. Experts in
independent firms may be more cost-effective and a
greater proportion of the work may be performed by
the expert directly. Whether your expert is in a large
firm or working independently, check if they have access to support to deal with the inevitable peaks of
work and annual holidays.
4. Getting a fee quote
To avoid nasty surprises later and to ensure that your
client can make an informed choice on experts, it is
essential that you provide sufficient detail when getting a fee quote. For example, if I am giving a quote
on a business valuation, I can give a firm quote only if
I have sufficient information to assess the size and
complexity of the business. Ideally, I would like to
know which sector the business is operating in and the
approximate turnover, number of employees and net
assets. On other matters where I am giving an expert
