Roundup of SECBA’s Atlanta conference

BVWireIssue #157-1
October 7, 2015

The Southeast Chapter of Business Appraisers held its annual valuation conference in Atlanta September 25-26. Gary Fodor, the chair of the SECBA, opened the conference and Bob Brackett, the secretary general of IACVA, the event co-sponsor, introduced IACVA, discussing the credential it offers, the benefits of membership, and current charter locations. BVR sponsored the CPE for the event.

Key takeaways: The conference opened with an economic update from Galina Alexeenko of the Atlanta Federal Reserve. Insights into the economic analysis of the Federal Reserve were interesting and provided the group with the most up-to-date outlook. Friday’s slate of speakers started out with a two-hour expert panel discussing common errors made by valuation practitioners. Brandi Ruffalo moderated the panel that included Brackett, Marcie D. Bour, and Frank Rosillo. One of the most common mistakes the experts see is a disconnect between analysis in the reports and the conclusions. The panel fielded questions and comments from the participants on practice tips and ways to reduce errors. Rosillo wrapped up the presentation discussing some of the methods that practitioners can use to avoid mistakes, which are highlighted in his new book, published by Wiley.

Dr. Mark Walker presented his research on corporate tax rates, delving into the history of corporate taxes and examining how public companies use various strategies to minimize taxes. He concluded with the average corporate tax rates actually paid.

Bour discussed fraud techniques used and how they can show up on financial statements. Using ZZZZ Best and Enron as two examples, she walked through how detailed analysis showed that things were not right. Careful analysis, including comparison to benchmarks in the industry, can be helpful in assessing whether companies may have issues.

Next week’s BVWire will have more takeaways from this very fine conference.

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