Takeaways from NACVA’s ‘super conference’

BVWireIssue #239-4
August 24, 2022

business valuation accrediting organizations
business valuation profession, national association of certified valuation analysts (NACVA)

BVWire traveled to Salt Lake City for the Business Valuation & Financial Litigation Super Conference hosted by NACVA. It was great seeing people in person, and a lot of interesting information was presented. We’ll have a detailed recap in the October issue of Business Valuation Update, but here are some takeaways from both in and out of the sessions:

  • Continued court backups are pushing more cases to mediation, which represents an opportunity for valuation experts (e.g., take the mediation training and get on court-appointed lists);
  • One firm is solving the recruiting problem by hiring undergrad students part-time;
  • Zoom is “here to stay” for litigation up to and including depositions—trials will migrate back to in-person;
  • Speakers in several sessions told attendees they were not charging clients enough—and that fees should be based on the value to the client, not billable rates;
  • NACVA has a “Leadership Track” designed to give members the opportunities to advance in the profession;
  • Private equity will soon own more than half of the top 20 accounting firms, predicts an M&A consultant in this space;
  • For cannabis firms, valuation fundamentals apply—but company-specific risk ranges from 15% to 25%;
  • Use the “bookmarks” function in Adobe for your valuation reports to make it easy to navigate—headings in Word can become bookmarks when you convert to PDF;
  • Offshoring is a model whose “time has come” because many practitioners have become so busy that they can’t devote enough time to managing the firm; and
  • Artificial intelligence will take hold in auditing and then move into forensic accounting before it spreads to valuation.

We’ll have more takeaways in next week’s issue!

Please let us know if you have any comments about this article or enhancements you would like to see.