Will the valuation profession use drones?

BVWireIssue #173-1
BVWireIssue #173-1
February 1, 2017

Don’t have time for a site visit? Can’t travel to verify the existence of assets? Consider using a drone. New rules from the FAA have paved the way for increased commercial usage, and the accounting profession is already on it, according to an article in the Journal of Accountancy. For example, PwC is looking to use the devices to capture information and data for audits or to be used as third-party asset confirmation in litigation. The firm also can help clients incorporate drones into their own operations, such as a mining company using the devices to take photos or measurements of mineral deposits or ground operations. Of course, the drone industry itself may pose an opportunity for appraisers—PwC estimates it will be a $127 billion global market. Just imagine all these gadgets buzzing around the skies.

Extra: The paparazzi—always on the cutting edge—have already used drones to spy on celebs at home, but at least one state (California) has banned this type of use.

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