Upcoming Webinar

VPS Straight Talk Series

December 17, 2019

Business Valuation Reports and Engagement Letters

An ADVANCED Look at the Beginning and the End of a Valuation

**Includes WORD Versions of a
Detailed Report and Engagement Letter **

Purchase

Jim Hitchner, CPA/ABV/CFF, ASA

  • Managing Director, Financial Valuation Advisors
  • CEO, Valuation Products and Services
  • President, The Financial Consulting Group
  • Coauthor, Hitchner Pratt Fishman, A Consensus View Q&A Guide to Financial Valuations
  • Coauthor, Discount for Lack of Marketability Guide and Toolkit
  • Coauthor, Financial Valuation Applications and Models, 4th edition
  • Coauthor, PPC’s Guide to Business Valuations, 29th edition
  • Former member of the AICPA BV Standards Writing Task Force
  • Inductee in the AICPA BV Hall of Fame

The main highlight of this session will be the review of a WORD version of a detailed sample report that is in conformity with the standards of AICPA, ASA, IBA and NACVA and a review of an engagement letter. You will learn just about everything you ever wanted to know about reports and engagement letters.

Learning Objectives:

Using sample report language and examples, the participant will learn:

  • What needs to go into a detailed BV report that is in compliance with BV standards
  • About the use of summary reports, review reports, calculation reports, oral reports, and no reports
  • About the use of protective and risk-management language in both reports and engagement letters
  • How to properly use addendums, appraisal representations/certifications, assumptions and limited conditions
  • About troublesome words, sentences, and paragraphs that are often inappropriately included in reports and engagement letters
  • Alternative methods of wording engagement letters
  • Types of language that help with collections
  • Language that will help if a dispute arises with an engagement

Webinar Outline:

  • Sample language and examples to include in your detailed reports
    • Front summary language, including: terms, definitions, disclaimers, caveats, scope of work, list of documents relied upon, procedures performed, restrictions or limitations, distribution, and level of reliance
    • Adherence to BV reporting standards (AICPA, ASA, IBA, and NACVA)
    • Presentation and reconciliation of values and methods
    • Conclusion of value
    • Assumptions and limiting conditions and valuation representation/certification
  • Sample language and examples NOT to include in your reports
  • The best way to organize your report
  • Citing references for definitions, concepts, and applications
  • The use and abuse in relying upon canned economic data 
  • Reliance on RMA and other types of benchmark data
  • Quantitative and qualitative weightings of values
  • Length of reports, types of reports, and when they should be used
    • Full/detailed
    • Summary/letter
    • Calculation
    • Oral
    • Valuation review of another analyst’s work product
    • Rule 26
    • No report
  • Sample language and examples to include in your engagement letters
    • Fees, retainers, billing, invoicing, and collections
    • Disputes, resignation, and withdrawal
    • Responsibility for payment
    • Limiting conditions
    • Confidentiality
    • Scope of services
    • Indemnification
    • Arbitration/mediation
    • Acceptance – who signs?
    • Privacy, ownership, and use of materials
    • Conflicts of interest

Handouts: 

Participants will be able to download the following:

  • VPS webinar PowerPoint slides
  • Sample detailed report
  • Sample engagement letter

Following the webinar, attendees will receive an interactive video of the webinar showing the audio synced to the slide presentation in real time 

Purchase

The VPS StraightTalk webinar series brings you outstanding continuing professional education on business valuation and litigation topics. Unless otherwise noted, all webinars are targeted at an intermediate program level, qualify for two hours of CPE credit, and begin at 1:00 p.m. ET. Pay one fee of $239 for everyone in your firm to participate. Unlimited employees from your firm will each receive 2 CPE credits for NO additional fee (applies to all employees at your firm who sign in per the webinar participant instructions.) More information on the VPS StraightTalk webinar series can be found here.

Jim Hitchner’s Valuation Products and Services (VPS) provides tools to assist practitioners in business valuation, litigation services, and forensics and fraud.

Valuation Products and Service, LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org.

The VPS StraightTalk webinar series brings you outstanding continuing professional education on business valuation and litigation topics. Unless otherwise noted, all webinars are targeted at an intermediate program level, qualify for two hours of CPE credit, and begin at 1:00 p.m. ET. Pay one fee of $239 for everyone in your firm to participate. Unlimited employees from your firm will each receive 2 CPE credits for NO additional fee (applies to all employees at your firm who sign in per the webinar participant instructions.) More information on the VPS StraightTalk webinar series can be found here.