The ASA is now offering a new designation in intangible asset valuation. The association cites the following reasons for developing the new designation:
- The increasing importance of intangible assets to business strategies and profitability, expanded financial reporting requirements regarding intangible assets
- Increased review of intangible asset valuations by regulatory groups including the Securities and Exchange Commission (SEC) and Public Company Accounting Oversight Board (PCAOB)
- The increased uncertainty regarding asset values as a result of the recent Financial Crisis
- Complexities associated with the identification and valuation of the many different types of intangible assets.