The mainstream business press is now covering the new valuation credential related to fair value for financial reporting for U.S. publicly traded companies. Of course, BVWire readers know all about this new credential, as we’ve been covering this exciting development since June 2015 (first coverage here).
On the street: A recent Wall Street Journal article discusses the new credential, Certified in Entity and Intangible Valuations™ (CEIV™), which is a joint effort of the AICPA, ASA, and RICS. These groups want to bring more consistency to the profession and reduce the number of questions auditors raise about the valuations, says Eva Simpson in the article. Simpson is among the managers leading the effort for the AICPA. “We want these professionals to better document their assumptions,” she says. Better documentation will help make auditors more comfortable with valuation estimates, especially for intangibles. And it will ease the concerns of the SEC and PCAOB, the article points out.
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