At the conclusion of the most recent meeting of the American Society of Appraiser’s Business Valuation Committee on Sunday July 12, 2009, the two-year term of Chair Terry Allen, CPA/ABV, ASA, officially ended. Among Allen’s many accomplishments:
- International growth of the BV profession. The ASA’s BV Committee has been an international leader in best practices and standards for the BV profession. “I am often asked why international involvement is important to members who practice only in the U.S.,” Allen says, in her last “Note from the Chair” (ASA E-Letter, July 15, 2009). International involvement has enhanced the ASA credential, and as the U.S. moves towards international accounting standards, appraisers will need to have a strong voice in their development.
- CICBV proposal. As previously reported in the BVWire™, the ASA is currently considering a proposal to form an “organization of organizations” with the Canadian Institute of Chartered Business Valuators (CICBV). “The purpose of this organization will be to promote global best practices in the BV profession,” Allen says. The ASA Board of Governors will vote in August or September on whether to pursue this joint venture; her assessment of its advantages and disadvantages appears in an earlier E-Letter.
- Education. “Education has been the issue of greatest importance to me during my 11 years on the BV Committee,” Allen says, including the development of courses focusing on the valuation of intangible assets for financial reporting purposes.
In addition, Allen has worked hard on the advancement of government relations, the credentialing of ASA members, and the continued sponsorship of top-notch professional conferences—such as the 2nd Annual Summit on Business Valuation in Divorce in Chicago on September 22-25; and the 28th Annual ASA BV Conference in Boston on October 19-21. Congratulations to Allen on completing her successful tenure, and kudos to new BV Committee Chair, John Barton, as well as Bill Quackenbush, Vice Chair, Linda Trugman, Secretary, and Mark Penny, Treasurer. “I am confident that John and the other new officers will do a great job,” Allen tells the ‘Wire. “I will still be on the BV Committee for two more years, but only to assist its new leaders if they wish.”
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