BVWire's good friends Carole Gailor, JD (Wallis & Hunt PLLC, Raleigh, NC) and Michelle Gallagher, CPA/ABV/CFF (Gallagher & Associates, Lansing, MI) discussed common weakness they see in valuation reports at last week’s AAML/AICPA conference. “On average I find 20-30 errors in every valuation report I read” shared Gailor. Her three easiest-to-spot mistakes:
- plagiarism – specifically the omission of data source citation
- the lack of a site visit, and
- outdated CVs
Gallagher and Gailor advise appraisers to keep their CVs short – “There’s no need to list your every conference participation, but it is smart to mention your attendance if it’s directly relevant to the case” observed Gallagher. One of her best tips (based on sudden furious notetaking in the session!) was to contain the CV to one page and include a small but recent photo towards the bottom: “Remember, it’s likely been a month or more since the judge or trier of fact has read your report. The picture connects the face with the work.”
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