Notable takeaways from the NYSSCPA BV conference

BVWireIssue #248-4
May 24, 2023

valuation profession news
business valuation profession, fair value, NYSSCPA, risk analysis, valuation practice management, marital dissolution, statutory appraisal, private equity, cryptocurrency

BVWire attended last week’s annual New York State Society of CPAs’ Business Valuation and Litigation Services Conference, and—as usual—some very interesting and useful information was presented. Here is some of what we heard:

  • Rule-makers have started to think about the value of internally generated intangibles on company balance sheets;
  • Unless valuers can substantiate distinct impacts of ESG on cash flow, risk, or growth, they’re just “blowing smoke”;
  • Fair value standard-setters did such a good job with the Mandatory Performance Framework, the CEIV credential became unnecessary (the credential will be discontinued);
  • New York continues to be out of step with most other jurisdictions regarding DLOMs in statutory fair value cases;
  • “Litigation funding” has emerged to bring more cases to trial that would otherwise be too expensive to pursue;
  • Seized crypto assets are now being disposed of via exchanges versus auctions to maximize value;
  • A large forensics practice uses QLUE to investigate and trace the use of nonfungible tokens;
  • ESG fraud could be a new practice opportunity for accountants and valuation experts;
  • PE funds are eyeing more smaller targets than ever before;
  • For matrimonial cases in New York, the valuation date can be very hard to pin down—there is no clear precedent; and
  • ESG human capital disclosures are increasing, but investors want more quantitative measures, such as “regretted attrition.”

More detailed coverage of the conference will be in the July issue of Business Valuation Update.

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