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AICPA Forensic & Valuation Services Conference

November 15, 2012

I just returned from the AICPA National Forensic & Valuation Services Conference where I interacted with over 1200 colleagues to discuss the latest trends in these services.

Areas covered were leading and achievement in a changing world, evolving forensic investigation and valuation techniques and standards, factoring in income taxes in valuations of pass through entities, valuation of non controlling and difficult to market interests, how statistics and data analytics are mined, gathered and applied, family law issues, intellectual and intangible property valuation, interaction of appraisers and forensic investigators with attorneys and judges, alternative dispute resolution, bifurcating goodwill into personal and enterprise values, white collar fraud applications, use of client prepared forecasts, and propriety of forecasts being prepared by the valuator.

I attend this conference every year, and while there were over 75 overlapping presentations, I am amazed at how the focus changes each year to adapt to the latest state of the art trends.  Some takeaways were that early use of a forensic or valuation professional reduces costs and assures a better work product, regardless of the results from the investigator’s or appraiser’s work process the conclusions should be subjected to a reasonableness or sanity test to determine whether the result is realistic, that more challenging fraud techniques have to be matched with the most sophisticated detection procedures and software, that costs of the process have to be balanced against the potential findings and follow through, and that the cash flow used in a valuation needs to represent sustainable amounts.

Business valuation and forensic services are vibrant dynamic growing specialties.  Further, the camaraderie and interactions make the conference even more valuable.

Anyone that thinks they might be involved in a matter needing forensic or valuation services should seek out a consultation as quickly as possible to determine if these services are applicable, how to proceed and the potential costs.  The AICPA has on line directories identifying specialists in these services.  Also, you are always welcome to call me with questions in this regard.  I am accredited in business valuation and certified in financial forensics by the American Institute of Certified Public Accountants.

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