This includes sessions from the conference: Forensic & Valuation Services Conference 2018
The rise of Artificial Intelligence is transforming the human civilization. The application of AI in business is already changing how business is conducted. The inclusion of AI in forensics and valuation area provides new opportunities and creates new risks. This talk focuses on understanding the application of artificial intelligence in forensics and valuation, the state of the technology, upcoming innovations, and opportunities. For both practitioners and service providers, the session will show how to apply AI to improve forensics and valuation analysis, services, and expertise.
Key takeaways include:
• What is the AI revolution and how it is impacting business?
• How would AI impact forensics and valuation?
• What can practitioners do to embrace and apply AI in forensics and valuation analysis?
Ed Hochuli is a Phoenix trial attorney with his own 90 lawyer firm, who has personally tried over 150 civil jury trials. But he is most widely recognized as a Referee in the National Football League, where he has worked for the last 28 years. Ed has refereed two super bowls and 10 championship games, along with over 575 games in the NFL. Having been highly successful at both jobs, one wonders what he views as the keys to his success. How does a football official go from officiating 8 year old's in front of 50 parents, to Refereeing a Super Bowl with 350 million people watching?
By the very definition of the word "Average", most people are either average or below average, but Ed believes that instead, anyone can be highly successful, if they just follow a few simple principles. In this very entertaining and enlightening presentation, Ed sums up the secret to his success in what he calls "The Average Joe Principle". His presentation includes anecdotes and a variety of video clips from his long career in the NFL. It provides his tips and beliefs on the secrets to being successful at whatever job or avocation one takes on.
This session will evaluate the issue of data reliability in damage analyses through an introduction to reliability/reasonable certainty concepts and a discussion of how the courts have evaluated the issue.
The learning objectives of this session are to:
Using the AICPA Calculation Engagements Frequently Asked Questions (FAQs) pronouncement as a basis, this presentation will discuss the origin of the Calculation and its uses within the framework of the SSVS #1 (VS100 & VS9100).
Data is becoming the fastest growing commodity. Everything we do creates data: driving our car, going for a run, watching TV, reading a book -- these activities are now monitored, quantified, and analyzed. The data collected, how it is collected, how it is used, and how it is stored is dominating the technology industry. But, just as data can be a company's greatest asset, it can quickly become its worst liability. Turn on the news in any given day and a new data breach is making the headlines; and no one is immune. The costs and long-term implications of cybersecurity breaches, unsophisticated technological systems, and weak security are hard to quantify: What is the value of a privacy violation? Has a breached system been secured effectively? Was the data collected by the company done in a transparent and compliant manner? As shown in the Yahoo-Verizon deal, these are a few of the many questions that companies need to start addressing before closing a merger or acquisition. This presentation will discuss the role that cybersecurity and data privacy need to play in the mergers and acquisitions due diligence process. We will delve into how the stakeholders of a deal can gain an accurate and comprehensive understanding of the target company's data risk profile. Incorporating cyber and data privacy into the due diligence process is more important if the target is a company valued for its data: trade secrets, intellectual property, customer lists, etc. This data is only valuable if it is collected and maintained in a secure and compliant manner. We will outline the top data risks to a company's data security and privacy and the information you should know before structuring the deal. You need to be asking how the target should prepare its data security and technology to its maximum advantage. And, also how to protect the acquiring company to ensure that it is buying an asset, and not a liability.
The session will discuss the following, amongst other things related to C-Suite Fraud and attendees will learn:
• What are some of the characteristics of C-Suite executives that set them apart from other employees and may lead them to commit fraud;
• What types of fraud are perpetrated by C-Suite executives and are the types of fraud perpetrated by this group different from fraud committed by other groups within an organization;
• How to go about investigating C-Suite fraud, including the investigative steps to consider, some of the lessons we have learned, and the pitfalls to avoid when investigating C-Suite executives
• What to consider when developing an anti-fraud regime in an organization.
This session will focus on the specialized situation whereby one of the participants in a marital dissolution has undertaken to conceal assets from the other spouse and will examine specialized techniques available to the forensic accountant to identify concealed or 'hidden' assets.
This session will help the attendee:
Expert testimony can cause fear or anxiety in the most seasoned expert. That anxiety is magnified when you don’t have a lot of testifying experience. Our mock trial programs will prepare you for successful expert testimony. Learn to effectively present your prior experiences, including defending your qualifications on direct and cross-examination, effectively communicate your opinions to the trier of fact, and the good, bad and ugly use of demonstratives.
After this session the attendee will be able to:
We will examine current data for estimating cost of capital including updated evidence equity risk premia and size premia. We will also explore estimating company specific risk.
The U.S. Tax Cuts and Jobs Act ("TCJA") passed at the end of 2017 has significant implications for the future tax structure on most businesses. Included among these implications is the impact on fair value measurements. The implications go beyond simply revising the effective tax rate in valuation models. This session will explain the aspects of the TCJA, a valuation specialist should consider in measuring fair value.