From the Chair

Happy and healthy New Year to one and all! I hope it will be a successful and prosperous one!

2012 Advanced Business Valuation Conference Materials Available for Purchase

Did you miss the conference in October, or if you were there, did you miss one of the concurrent sessions due to a conflict? If so, now is your chance to purchase the materials:

Member Rate: $440
Non Member Rate: $550

These materials are available for a limited time only – don’t delay, get your copy today!

2012 Advanced BV Conference Materials

Price includes PDF versions of speaker presentations*, related session material and audio recordings of all conference session. *Note sessions 1 and 15 are audio only.

And speaking of conferences, don’t forget that if want to have some influence, you need to send speaker and/or topic suggestions to Bryce Erickson, the conference chair. The conference committee will be meeting later this month, so don’t delay!

Reminder - Research Project

I have been contacted by the professors at Seattle University who sent the following message:

This is a reminder of our request for your participation in a research project, conducted by the Albers School of Business and Economics at Seattle University, on the important issue of fair value judgments. We understand that the year-end continues to be an especially busy time but your participation is critical to get a broad representation from the business valuation community. We are still in need of a significant number of survey participants and so we would really appreciate it if you could contribute some of your valuable time.

The survey requires only about 20 minutes and entails reading a brief case and responding to a few questions. Please complete the survey at your earliest convenience by clicking on or copying the following link to your internet browser: http://seattleu.qualtrics.com/SE/SID=SV_0dfn6NAJfcS7TpP.

Before busy season kicks in, please help by linking to the survey and answering their questions. We would really appreciate it.

Last Call for Nominations for the BV Committee

The Nominating Committee of the BV Committee is beginning the selection process for this year’s BV Committee member elections. There are several slots that will be opening up this year (as of July 1, 2013), so we need as many qualified candidates as possible to consider for nomination. A nominee must hold the ASA (or FASA) designation and be in good standing with the ASA. Although not a requirement, nominees with some history of service to the BV profession within ASA or other societies are preferred. Examples of service include course instructor, course developer, chapter officers, conference committee or standards committee members, authors or speakers on BV topics, etc.

As you know, the BV Committee is the volunteer body that oversees the education, standards and accreditation of BV professionals within ASA. The BVC meets face to face twice a year and holds periodic teleconferences. Subcommittees and task forces within the BVC meet in person or by phone as needed. If you would like to be considered or know someone else who would make a good candidate, please send me a brief CV including valuation organization participation and your reason for wanting to serve on the BVC in the next few days.

3rd Exposure Draft to 2014-2015 USPAP

Just as a reminder, the Appraisal Standards Board (ASB) of The Appraisal Foundation has released the 3rd exposure draft to the 2014-2015 version of USPAP. Comments are due on January 25, 2013. The BVC’s response letter is in process and will be distributed once it is completed, but it never hurts for there to be more than one voice from the BV community. FYI, for those who have not read it, the ASB has withdrawn its change to the definition of report. They stated the following:

As a result of the concerns expressed with both the current and the proposed defintions of report, and the fact that these concerns are largely a function of the appraiser’s type of practice, the ASB has decided to investigate the possibility of having different report and workfile requirements based on the intended use and intended users of the assignment. The Board recognizes that this would be a radical change to USPAP and would affect many stakeholders. For that reason, such a change must be thoroughly investigated and vetted. Rather than rush to adopt changes for the 2014-15 edition, the ASB plans to follow-up on this issue after the 2014-15 USPAP has been adopted. This will allow the Board to proceed judiciously and allow for the necessary level of consideration and deliberation on this important topic.

Maybe they’ll consider a litigation exception when they do this? We can hope!

That’s it for this month.

Linda Trugman, ASA
Chair – BV Committee