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1. IRS oversight of CPAs who provide valuation services  

BY Michael Gregory, ASA, CVA, and Renée Marino, CPA/ABV, CFA, ASA
Under Sec. 6695A, enacted by the Pension Protection Act of 2006, P.L. 109-280, appraisers may face monetary penalties for appraisals that lead to substantial and gross valuation misstatements on returns. This section is intended to provide greater assurance that all appraisers and appraisals meet a minimum threshold of qualification.

2. Q&A: Top issues in business valuation  

BY Chris Baysden
Business valuation experts have been practicing in an evolving landscape for the past several years. New standards, changing technology, and an aging population are all playing a part in effecting changes.The JofA organized a round-table discussion of the important issues affecting CPAs who advise clients on business valuation matters.

3. Evaluate your BV skills  

BY Eddy Parker, CPA, CGMA
With a wave of Baby Boomers nearing retirement, there is a good chance CPAs will come across clients who need a business valuation. A valuation may be necessary for gift and estate purposes, transfers of ownership, tax planning purposes, and divorce. CPAs need to determine whether they should perform the valuation themselves or refer the work to a more qualified CPA.

4. Compilation reports for valuation engagements?   CPEDirect

Business valuation (BV) reports frequently include information presented in the form of financial statements. The reporting requirements for such financial statements have drawn increased attention as a result of the issuance of Statement on Standards for Accounting and Review Services No. 19 (SSARS 19), Compilation and Review Engagements.

5. Valuing Contingent Consideration: Challenges and Solutions   CPEDirect

BY Mark L. Zyla
When the FASB statement on business combinations was revised (modifying Statement no. 141 into Statement no. 141(R), now codified as FASB Accounting Standards Codification (ASC) Topic 805, Business Combinations), one change required that all items of consideration transferred by the acquirer be measured and recognized at fair value at the acquisition date, including consideration that is transferred only if some future specified event occurs.

6. AICPA Panel Opposes DOL's Proposed Change to Definition of "Fiduciary"   WebExclusive

The AICPA Forensic and Valuation Services Executive Committee (FVSEC) submitted a comment letter opposing a U.S. Department of Labor (DOL) proposal to change the definition of the term fiduciary. The FVSEC opposes the change because it would make virtually all valuations prepared for benefit plans, including employee stock ownership plans (ESOPs), fall under the fiduciary rules.

7. Expert Testimony Guidelines for CPA Valuation Analysts  

BY ROBERT REILLY, CPA/ABV/CFE
When giving expert testimony, CPA valuation analysts should be prepared to have their reports and testimony withstand the scrutiny of litigation and cross-examination. The following guidelines can help the valuation analyst prepare for potential vulnerabilities that opposing legal counsel may try to exploit. Check your resume.

8. A Competitive Analysis of Business Valuation Services  

BY Michael A. Crain, CPA/ABV
The business valuation practice area is maturing, and rapid growth is no longer the norm for the profession’s established firms. Although demand for valuation services is robust, it is harder for firms entering the field to earn superior returns unless they have a competitive advantage such as some existing expertise like industry or technical experience or they acquire valuation talent with a book of business.

9. Article Oversimplifies Becoming a BV Expert  

BY Wayne E. Nichols, CPA, CVA
I realize that it’s important to keep the pipeline full of younger CPAs who may develop an interest in the business valuation profession. Some of my colleagues have perceived a definite “aging” among BV’ers, with seemingly fewer younger members picking up the challenge. So I applaud the goal of attempting to attract new interest to the profession in “Breaking Into Business Valuation” (March 10, page 43).

10. The CPA's Role in Quantifying Post-Acquisition Dispute Damages   CPEDirect

BY Jeff Litvak, CPA/CFF/ABV, Kenneth Mathieu, CPA/CFF/ABV and G.William Kennedy, CPA/ABV, Ph.D.
Given today’s environment of bankruptcies, bank failures and recessionary pressure, consummating merger and acquisition transactions is more challenging than ever. The potential disputes arising from the challenges of an M&A transaction are numerous. The following two types of disputes are the focus of this article: working capital disputes regarding whether the financial statements were in accordance with GAAP; and indemnity claims involving whether the buyer in the transaction obtained the benefit of the bargain.
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