New fair value rules and performance standards highlight ASA event

BVWire has hit the road and is attending the 12th Annual Fair Value Conference in Los Angeles hosted by the American Society of Appraisers and the University of Southern California Leventhal School of Accounting. Raymond Rath (Globalview Advisors) and Thomas Ryan (USC Leventhal School of Accounting) are co-organizers of the event, which is particularly timely because of the many new and proposed changes to government standards, accounting rules, and to the valuation profession itself.

If you’re a subscriber to Business Valuation Update, you’re already up-to-date on many of the fair value issues being covered at this conference. In recent months, BVU has featured these articles related to fair value:

• “12 Ways to Build a Program That Ensures Quality Fair Value Measurements” (June 2017). Anthony Aaron, formerly with Ernst & Young, is the chair of the performance requirements work stream of the Fair Value Quality Initiative. He explains how valuation firms can take actions to help improve the quality and consistency of fair value measurements for financial reporting.
• “Do You Share Business Valuation’s ‘Dirty Little Secret’?” (May 2017) There’s a perception that too many valuation experts simply accept projections and forecasts they’re given without applying enough scrutiny. New guidance in the fair value mandatory performance framework (MPF) is available on how to examine and substantiate prospective financial information (PFI) you get from management or other third parties.
• •“ASA BV Chair Discusses Recent Changes to New FV Rules and CEIV” (April 2017). William Johnston (Empire Valuation Consultants LLC), chair of the ASA’s BV committee and an instructor in the ASA’s first training course for the new Certified in Entity and Intangible Valuation™ (CEIV™) credential for professionals working in fair value for financial reporting, is interviewed.
• “Fair Value Experts Offer Their Insights on ASC 805” (March 2017). Mark Zyla (Acuitas) and Nathan DiNatale (SC&H) give an overview of ASC 805 on business combinations that is an excerpt from a new guide to purchase price allocations to which they generously contributed.
• “AICPA BV Chair Nathan DiNatale Discusses the New CEIV Credential”
 (February 2017). The mandatory performance framework (MPF) has just been finalized for the new CEIV credential. BVU interviewed Nathan DiNatale (SC&H Group), chair of the AICPA Business Valuation Committee, about the new credential and performance standards.

If you’re not a subscriber to BVU you can acquire any or all of these articles—and more—from the archive that spans over 20 years of covering the business valuation profession.