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This includes sessions from the conference: 2024 AICPA & CIMA Forensic & Valuation Services Conference
Sessions Included:
Let’s Have a Chat: Applying ChatGPT and Other Large Language Models to the Practice of Forensic Accounting (Oct 29, 2024 10:55 AM)
Macroeconomic Update 2024 - Cost of Capital & Valuation Impact (Oct 28, 2024 09:50 AM)
Considering Alternative Causes of Loss in Lost Profits Calculations (Oct 28, 2024 09:50 AM)
Valuation Case Law Update (Oct 29, 2024 10:55 AM)
Valuation of Startup Companies (Oct 28, 2024 09:50 AM)
Proving Solvency (Oct 28, 2024 09:50 AM)
Lost Profits (and Other Damages) in Trademark Cases (A Case Study) (Oct 28, 2024 11:15 AM)
Congratulations. You’re the Post M&A Accounting Neutral. How Will You Rule? (Oct 28, 2024 11:15 AM)
You Prepare Them, So What’s It’s Like to Review IRC 409A or ASC 718 Valuations? An Auditor and Valuation Reviewer’s Perspective to Help You and Your Clients (Oct 28, 2024 11:15 AM)
Introduction to Shareholder Disputes (Oct 28, 2024 11:15 AM)
Fraud Hot Topics (Oct 28, 2024 01:30 PM)
Litigation Talk Series - Decoding the Courtroom: Perspectives on Expert Testimony from Lawyers and Judges (Oct 28, 2024 01:30 PM)
All in the Family—Related Party Companies in Divorce (Oct 28, 2024 01:30 PM)
Advanced Topics in ESOP Valuations (Oct 28, 2024 01:30 PM)
Don’t be Blindsided by Frauds That Lie Just Beneath the Surface… Consider Applying Alternative Approaches To Your Fraud Investigations (Oct 28, 2024 03:10 PM)
Litigation Talk Series - Demystifying Daubert (Oct 28, 2024 03:10 PM)
Techniques Utilizing AI for Valuation of Private Companies (Oct 28, 2024 03:10 PM)
Transforming the Next Generation of Accounting, Forensic and Valuation Professionals (Oct 28, 2024 03:10 PM)
FVS Forum, followed by the Awards Presentation (Standing Ovation and Volunteer of the Year) (Oct 29, 2024 09:00 AM)
Unlocking Trust & Estate Litigation: Litigators' Perspective (Oct 29, 2024 01:10 PM)
Discount Rates in Lost Profits Damages (Oct 29, 2024 01:10 PM)
Using Monte Carlo in Valuations Effectively (Oct 29, 2024 01:10 PM)
A Deep Dive into Cecil v. Commissioner – Shedding Light on the Selection of Valuation Approaches and Tax Affecting S Corporations (Oct 29, 2024 01:10 PM)
Fraud Trends in Enforcement Actions (Oct 29, 2024 02:10 PM)
Tax Affecting – The Debate Continues (Oct 29, 2024 02:10 PM)
The Role of Market Data in the Valuation of Real Estate Holding Entities (Oct 29, 2024 02:10 PM)
The Role of a Forensic Accountant in a Class Action Dispute (Oct 29, 2024 03:50 PM)
BV Subsequent Events/What is Known and Knowable? (Oct 29, 2024 03:50 PM)
BVFLS 3.0: Harnessing AI to Transform Your Practice (Oct 29, 2024 03:50 PM)
Navigating Financial Expert Witness Services in Family Law: An Introductory Guide (Oct 29, 2024 03:50 PM)
Piercing the Corporate Veil: The Accountant's Role in Alter Ego Claims (Oct 30, 2024 08:00 AM)
Source Documents—Real or Fake? (Oct 30, 2024 08:00 AM)
Valuation Performance Framework Update (Oct 30, 2024 08:00 AM)
Valuing a Cash Business (Gasp!) (Oct 30, 2024 08:00 AM)
Mastering the Evidence: The Crucial Role of Data Management for Expert Witnesses (Oct 30, 2024 09:00 AM)
Determining the Appropriate Discount Rate for Valuing Intangible Assets in a PPA (Oct 30, 2024 09:00 AM)
How to Treat “Right of Use” Assets in Valuations (Oct 30, 2024 10:15 AM)
Can Virtual Mentors Revive Our Pipeline? (Oct 30, 2024 09:00 AM)
Anatomy of an Expert Report (Oct 30, 2024 10:15 AM)
Market Approach - Using General Market Multiples and Adjusting For Company Characteristics (Oct 30, 2024 09:00 AM)
Financial Valuation Applications and Models Text - New 5th Edition (Oct 30, 2024 10:15 AM)
Avoiding Bias and Remaining Objective As An Expert Witness – Professional Judgment and Decision Making (Oct 30, 2024 10:15 AM)
Lost Earnings: Quantifying Damages in Wrongful Termination, Personal Injury, and Wrongful Death Matters (Oct 30, 2024 11:15 AM)
Introduction to Lost Profits Methodologies (Oct 30, 2024 11:15 AM)
Estate Planning With The Anticipated Change in 2025 (Oct 30, 2024 11:15 AM)
Ethical Vigilance: Recognizing Red Flags and Equipping Staff with Professional Integrity in Client Interactions (Oct 30, 2024 11:15 AM)
This session will address the consideration of alternative causes of loss in evaluating lost profits damages. Specifically, it will incorporate relevant legal considerations and damages issues that may arise.
In 2022, major central banks embarked on one of the fastest rate hiking cycles in history in their attempt to control a surge in inflation. Inflation has been coming down rapidly in the U.S. and elsewhere, but has yet to reach the 2.0% central bank target. Market participants are now expecting the U.S. economy will achieve a soft landing, but are split on when will the Fed cut short-term policy rates to a more neutral level. Political uncertainty will also be high, as we approach U.S. Presidential elections. Depending on election promises, a significant increase in the U.S. debt load could place upward pressure on long-term interest rates. Join Carla Nunes and James Harrington (both in Kroll) as they deliver a global economic and financial market update and discuss the related impact on cost of capital assumptions and valuation analyses.
This session will explore various perspectives and uses for valuation of start up companies. Participants will overview the lifecycle of an early-stage business. Corresponding to each phase of a company’s development, the session will detail the valuation methodologies available as well as the key inputs and assumptions.
The session will focus on the evaluation of a targets solvency. The session will discuss the three accepted methods, as well as alternatives and special considerations involved in the assessment.
This session will offer an overview of lost profits and other damages in trademark cases and a detailed case study. The session will cover the basics of business valuation, setting the foundation for intellectual property (IP) valuations. The case study focuses on the loss of phantom equity in a trademark case.
Accounting neutrals (sometimes described as “accounting arbitrators”) play a pivotal role in resolving post-closing M&A disputes via a form of extrajudicial alternative dispute resolution. Participants in this session will explore the different services and various issues that may be addressed by an accounting neutral — and be introduced to key “how to” considerations for a CPA who is appointed to this role.
In this session, we will cover the following topics:
One of the most common types of valuation is for IRC 409A or ASC 718 purposes, typically of common stock for option granting purposes. While there have been many presentations about the technical merits of preparing these valuations, the goal of this session is to present the reviewer's perspective at top public accounting firms. This can help you prepare and appreciate audit reviews and ensure your documentation facilitates the review process.
Shareholder dispute engagements entail both forensic and valuation components. This session will provide a foundation for basic knowledge, from both legal context and real case applications, so that FVS professionals can properly plan and perform the forensic and valuation analyses in which the cases entail.
As fraud schemes evolve and regulatory pressure intensifies, forensic professionals must stay ahead of the curve. Join forensic specialists Jonathan T. Marks, Howard Silverstone, and Fred Kohm as they dissect the most pressing fraud hot topics that have defined 2024. This session is designed to give attendees practical tools and insights to tackle these challenges head-on, safeguard their organizations, and navigate the shifting regulatory landscape.
Key Topics Covered:
This session will be a discussion with a seasoned trial attorney and financial experts who will share their insights, guidance and expertise about best practices and tactics on the working relationship between lawyers and experts. Learn how attorneys and experts can work together to prepare for any situation, from client engagement, report preparation/delivery, deposition and trial. Discuss what lawyers look for in working with financial experts, and understand what the court's view of the expert role is and how that may differ from the lawyers and client's viewpoint.
Karolina Calhoun and Kevin Segler will cover all things related party in divorce valuation, including entity structure issues, multilayering with discounts, and tracing marital versus separate asset ownership with complex multi-entity ownerships. We will also discuss related parties in the business and said impact on ownership, valuation, and division—including the consideration of classes of stock in division, such as GP versus LP or voting versus nonvoting.
Valuation advisors play a vital role throughout the lifecycle of an employee stock ownership plan (ESOP). During the formation process, valuation advisors work with a trustee team, including legal counsel, to develop an appraisal of the subject company, negotiate the terms of the transaction, and issue a fairness opinion. Once established, valuation advisors complete an annual appraisal to set the share price for plan administration and redemptions in the normal course of business. At each step of the lifecycle, valuation advisors are required to consider ESOP specific regulations promulgated by the U.S. Department of Labor, the fiduciary duty of the trustee, and the impact of a leveraged buyout on the future cash flows of the subject company.
This session will discuss what valuation experts should expect and consider when evaluating ESOP Transactions such as:
Forensic accountants are problem solvers by nature, so when presented with a case where the facts don’t add up, what should be done? We must think “outside the box”! There are several ways fraudulent activity occurs depending on the scenario. When it is not a straightforward financial statement fraud, it is imperative that we figure out alternative approaches to identify the fraud and quantify the related damages. Currently, a plethora of tools are available for us online to use in fraud investigations that typically one would not think of using for non-financial data analysis, such as mapping software or industry trends. Evaluating and analyzing non-financial data to get greater insights into the data is key. Applying data analytics to correlate this information with the accounting records enables us to determine the legitimacy of the related revenues and/or expenses. This may be a game changer and provide the edge that is needed to figure out the fraudulent activity.
Daubert challenges represent a pivotal aspect of the legal and expert witness landscape, shaping the admissibility of expert testimony in courts. In this presentation, we delve into the nuanced realm of Daubert challenges, drawing insights and lessons from recent cases involving expert exclusions. By examining recent case examples and distilling lessons learned, this presentation aims to demystify Daubert challenges and empower experts with the knowledge and strategies needed to navigate this complex terrain effectively.
This presentation will cover advanced techniques related to the valuation of private assets, specifically equity in private companies that are venture capital- or private equity-backed. It will describe several strategies to price illiquid assets when no recent observable transaction prices are available.
Topics covered include the following:
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