RICS symposium highlights remarkable progress of BV profession
Last month, at the RICS Business Valuation Symposium in New York City, it was evident that, in the realm of fair value for financial reporting, extraordinary progress has been made in the efforts to enhance the public trust in valuations.
IPEV Board updates guidelines for private capital valuations
The International Private Equity and Venture Capital Valuation (IPEV) Board’s current update reflects valuation guidance from IFRS 13, ASC Topic 820 (US GAAP), and other inputs and is available here.
Global BVU News and Trends June 2019
Business valuation news from a global perspective.
Hot Topics Abound at ASA Fair Value Conference in New York City
The size premium, globalization, fund valuations, CEIV status, valuing debt, recent inventory guidance, and a new regulatory crackdown highlighted the recent American Society of Appraisers (ASA) Fair Value Conference, which turned out to be an outstanding event.
Yukon Court Awards Premium in Fair Value Determination—A Comment on Carlock v. ExxonMobil Canada Holdings ULC
This case should resonate with all valuation experts involved in M&A work. The court labeled the fairness opinion as “inadequate,” emphasizing that the financial advisor was entitled to a “success fee.” The court also pointed to the lack of disclosure of the analysis underlying the advisor’s conclusion.
Puklich v. Puklich
In buyout dispute related to various family businesses, including auto dealership, high court finds trial court was authorized to adjust value finding to account for majority shareholder’s oppressive conduct; case law supported rejection of discounts in valuing minority shareholder’s interest.
High Court Approves of Trial Court’s Rejection of Discounts in Fair Value Determination
In buyout dispute related to various family businesses, including auto dealership, high court finds trial court was authorized to adjust value finding to account for majority shareholder’s oppressive conduct; case law supported rejection of discounts in valuing minority shareholder’s interest.
Appraisers should take note of this pending FASB action
A pending FASB Request for Comment pertaining to ASC 350 and 805 may impact the demand for valuation services related to financial reporting.
Remarkable progress of BV profession noted at RICS symposium
In the realm of fair value for financial reporting, extraordinary progress has been made in the efforts to enhance the public trust in valuations.
Court Says Expulsion Price Determination in Louisiana Buyout Dispute Is Triable Issue
In buyout dispute resulting from expulsion of LLC member, court finds state law does not preclude use of discounts in valuing withdrawing LLC member’s interest; company’s operating agreement is ambiguous on how to value expelled member’s interest, court says, leaving issue for jury to decide.
Complete Logistical Services, LLC v. Rulh
In buyout dispute resulting from expulsion of LLC member, court finds state law does not preclude use of discounts in valuing withdrawing LLC member’s interest; company’s operating agreement is ambiguous on how to value expelled member’s interest, court says, leaving issue for jury to decide.
Latest SEC comment letter trends in PwC analysis
When the SEC reviews financial statements and disclosures of public firms, it may send a comment letter to the company if it has questions or sees problems.
ASA/USC fair value conference in Los Angeles June 20
Last year’s event was sold out for in-person attendance, so you may want to register now for the ASA/USC 14th Annual Fair Value Conference at KPMG in Los Angeles on June 20.
BVU News and Trends May 2019
A monthly roundup of key developments of interest to business valuation experts.
Global BVU News and Trends May 2019
Business valuation news from a global perspective.
Willamette gives insights into shareholder litigation
The Spring 2019 Insights from Willamette Management Associates focuses on shareholder litigation and is edited by Kevin M. Zanni.
Sneak peek at PCAOB report reveals fair value problems
The PCAOB continues to find “frequent deficiencies in auditing unobservable inputs used to measure the fair value of certain financial instruments,” according to a staff preview of 2018 inspection observations.
AICPA issues white paper on CVFI credential
The American Institute of CPAs has issued a white paper that explains the new Certified in the Valuation of Financial Instruments (CVFI) credential.
ASA plays to a packed house at its fair value event in New York City
An excellent program was presented to an eager crowd at the American Society of Appraisers (ASA) Fair Value Conference in New York City April 30.
VRC Mixes Valuation Work With Giving Back to the Profession
Senior members of Valuation Research Corp. (VRC) give an update on the firm’s work in M&A advisory, transactions, portfolio valuations, and more, but they also talked about the role the firm plays in the development of the valuation profession itself.
BVU News and Trends April 2019
A monthly roundup of key developments of interest to business valuation experts.
Conference season! BVWire hits the road
What blooms in spring? BV conferences, of course!
Global BV News: Fair value contributes to big jump in audit woes in Canada
Significant audit deficiencies in Canada more than doubled in 2018 compared to 2017, according to the inspection report of Canada’s audit regulator, the Canadian Public Accountability Board (CPAB).
Unequivocal ‘no’ to unaffected market price—Delaware Supreme Court strikes down Aruba Networks
In a sharp rebuke, the Delaware Supreme Court recently overturned the Court of Chancery’s confounding decision in the Aruba Networks statutory appraisal case to use the unaffected market price as the sole indicator of fair value.
AICPA launches CVFI credential
First announced in 2017 (see our coverage), the American Institute of CPAs has launched its new credential, the Certified in the Valuation of Financial Instruments (CVFI), with an accompanying performance framework.