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   The International Association of Certified Valuation Specialists

  • 25-10-2018 20:05 | Lisa Guo (Administrator)

    World Council of Charter and Chapters

    Dubai UAE

    October 21, 2018

    IACVS held our eleventh World Council Meeting on October 21, 2018, in Dubai, United Arab Emirates.
    Delegates attended from many countries, including China, Canada, Middles East, Southeast Africa, Russia, Kazakhstan, South Korea, India and USA.  HQ was represented by Bill Hanlin, Bob Brackett, and Lisa Gao.

    The day was filled with much discussion and sharing.  We welcomed the newest Charter Member from Southeast Africa.  This new member is also offering the first accredited Master’s Degree in Business Valuation.  The course is entirely on-line.  In addition to receiving a Master’s Degree, graduates are also conferred the ICVS – International Certified Valuation Specialist credential.

    The primary discussion surrounded the topic of education, core training and continuing education.  Michael Badham presented to the delegates the course offerings provided by iiBV (a new member of IACVS since the last WCM).  iiBv’s advanced courses are in the process of being completed for on-line use in either classrooms or individual settings.  Michael expects most of the offerings to be ready by the end of 2018, early 2019.  These courses will provide BV professionals with opportunities to learn advanced technics and practices, but will also provide an easy method to fulfill the IACVS continuing education requirements.

    Of great importance to all IACVS members is moving our core training program to an on-line platform.  The charter leaders, included members of academia, impressed upon the Council delegates that new (young) professionals are demanding an opportunity for professional education accessable through a laptop computer at convenient times.  There are numerous professional organizations that have already accomplished this change of platform.  (IACVS created an on-line venue for core training several years ago, but has apparently not properly promoted it). 

    Based upon the various opinions of the delegates and especially those involved in higher education, IACVS will make it a priority to update the on-line version of the present core training materials by early 2019.  The written materials were updated and released in early 2018. This effort will also include a practice examination for the ICVS credential to assist candidates with their study efforts. 

    The WCM was graced by a visit from Nick Talbot, Executive Director of IVSC.  The IVSC annual general meeting was held over the next three days in Dubai, and included delegates from more than 35 countries and addressed issues concerning the global valuation and appraisal professions.

    We are seeking interest from our Charters/Chapters to host the 12th World Council Meeting (in 2019).  It would be ideal to hold the WCM when the Charter/Chapters holds their own Valuation Conference.  Past WCMs have been held in Frankfurt, Seoul, Taipei, Xi’an, Beijing, Chicago, Malaysia and Dubai.

    Thank you for attending!

    Respectfully submitted


  • 16-10-2018 20:04 | Lisa Guo (Administrator)

    December 7-8, 2018  Wuhan, China

    The International Association of Certified Valuation Specialists(IACVS) will be the sponsor of the 8th International Conference on New Development of Appraisal to be held by the School of Business Administration (MBA Education Center) at Zhongnan University of Economics and Law, Wuhan, Hubei Province, China, during 7-8 December, 2018. The conference Theme is “Appraisal in the Age of AI: Inheritance and Innovation”.

    Delegates will include influential stakeholders from governments, business, and non-governmental organizations, academics, policymakers, and appraisal institutes. Mr. William Hanlin,  President & CEO of IACVS, will attend and present a speech at the conference.


    Registration Fees: RMB1000 per person, including conference materials and meals.

    Important Timeline 

    Registration Deadline: November 15, 2018

    People in Contact
    Dr. Wen Hao (mobile phone: +86-13986003448)
    Dr.Wang Juanjuan(mobile phone: +86-15327151891)
    Tel: +86-27-8838-3883
    Contact email:

  • 21-09-2018 20:02 | Lisa Guo (Administrator)

    ANEVAR, the national valuation and appraisal society in Romania, held its annual valuation conference in Bucharest, which is Romania's capital and largest city, as well as the most important industrial and commercial center of the country. With 2 million inhabitants in the city proper and more than 2.4 million in the urban area, Bucharest is one of the largest cities in Southeastern Europe. Bucharest is the 6th largest city in the European Union by population within city limits, after London, Berlin, Madrid, Rome, and Paris. 

    This conference saw more than 250 attendees, representing more than 20 countries.  

    ANEVAR is Europe’s oldest valuation society, founded in 1992.  They have held this conference annually for many years. The conference opened with greetings from President Dana Ababei, followed by Nick Talbot from IVSC.

    Technical presentations on many technical valuation issues were made throughout the day.  Bill Hanlin, IACVS president, gave a brief history of the evolution of the business valuation profession, leading to conclusion that all valuation professional organization should agree to follow a single set of professional standards to unite the profession and ease the task of stake-holders, banks and regulators to better understand how business valuation is intended to create better business communications.

    IACVS was given time to present the Honorary Member award to Gheorghe Badescu, founder of ANEVAR.  Only the fourth recipient of this award, Gheorge had been a life-long contributor to both the institution of business valuation and the on-going conversation to develop and adopt common valuation theories and models to be used by all valuators around the world.

    Technical topics that were presented included:

    * Valuers of All Asset Categories by Anton Lezhja.  Anton discussed the need to evaluate the resources require to do a complete job of valuation, including property, machinery and equipment and intangibles.  Doing this analysis early in the engagement will lead to better management of completion dates and estimation of engagement fees.

    * Early Stage Company Valuation by Diana Nikolaeva.  Diana described the challenges valuators face when engaged for early stage/start up valuations.  The difficulties arise from the different needs of stakeholders for M&A, financial reporting, the search for public information including comparables, and regulatory scrutiny.

    * The Use of Multiples by Mauro Bini.  The market approach has always presented challenges for valuation.  How do you search for relevant data?  How should market multiples be adjusted or modified for specific engagements?  The task of the professional valuer is to remain topical and relevant.

    * Using Black Scholes for Valuing Shares by Andrew Strickland.  Valuing company shares can be complicated by the needs and motivation of the enterprise and its shareholders.  Higher values can mean the promise of future rewards.  Lower values could be a disincentive to current and future employees.  Andrew discussed the options facing the valuator when using Black Scholes.

    * Market Multiples and Incremental Risks by Jeff Tarbell.  This presentation described the similarities between the market and income approach.  In using market multiples, Mr. Tarbell describes how we can reduce the subjectivity in selecting market multiples.

    * Evaluating Risk in Retail Property by Don Gilbert.  Mr. Gilbert presented his model for analyzing commercial retail rents in a relevant way as to be able to predict trends in future rental rates that would be sustainable for the near and long-term tenant.  Mr. Gilbert has created a clever computer template that adjusts suggested rental rates depending on historical rates, expected future economic trends, space availability and more.

    * Transactional Asset Pricing Approach (TAPA) by Andrey Artemenkov.  Dr. Artemenkov presented a newer approach for valuing an enterprise using a combination of historical ratios and future economic measurements and predictions.  Current models usually assume that markets are efficient and will continue to be efficient into the future.  Dr. Artemenkov says a newer model is needed to allow for market imperfects that can reduce the tendency to overstate values.

    The conference was followed by a gala banquet filled with awards, tributes performances and wonderful cuisine.  I am looking forward to attending future conferences in Bucharest!

  • 23-08-2018 20:00 | Lisa Guo (Administrator)

    The Business Valuers Association of Malaysia (BVAM) and the IACVS Malaysia Charter have successfully conducted the fourth ICVS Certification Training Class in Malaysia from August 4 to 6, 2018. 27 candidates from Malaysia, Singapore took part in the training course.

    Sr Elvin Fernandez,the President of BVAM, taught the business valuation theories and methodologies, and answered many questions from candidates. Ms Jowis Ng has 10 years of corporate finance experience, shared many examples and case studies from an experienced practitioner’s perspective. Dato’ Sr Lau Wai Seang met with candidates and imparted her personal experience and real life cases while teaching the topic on Best Practice for Intangibles valuation class. 

    All participants were encouraged to utilize the IACVS world-wide network to develop their practices through participating in local and global events.

    On August 18, 27 attendees sit for the ICVS multiple choice exam. The exam is proctored by Ms. Lisa Guo from IACVS headquarters and Mr. Sr Mohd Zamri bin Awang from INSPEN. 

    We are looking forward to the next training which will most likely be conducted in February 2019.

  • 16-08-2018 19:57 | Lisa Guo (Administrator)

    TOPIC: “Valuer’s Roles and Challenges Beyond Valuation Services in Regional Economic Development”

    TIME September 24 - 26, 2018 

    LOCATION: Yogyakarta, Indonesia 

    The ASEAN Valuers Association was constituted in June 1981 with Malaysia, Indonesia, Philippines, Singapore, Thailand, Brunei, Vietnam, and Cambodia as members. A cong ress and general assembly are held every year and are rotated amongst the country members.

    The objectives of AVA are to promote closer relations, co-operation and mutual understanding amongst valuer and allied professionals in ASEAN; provide organizational framework for regional co-operation in the study and research in the harmonization of relevant fields of valuation amongst ASEAN countries; and to co-operate with international, regional, national, and other organizations in the furtherance of the objectives. 

    For Conference Programme and Registration Form, please click the Conference Flyer.

  • 15-08-2018 19:54 | Lisa Guo (Administrator)

    An important meeting of the valuers around the world will be held in September, 7, 2018 at Intercontinental Hotel, Bucharest hosted by The International Valuation Standards Council (IVSC), and the National Association of Authorised Romanian Valuers (ANEVAR).

    This IVSC - ANEVAR International Valuation Conference “Business Valuation in a Globalised World” is part of the cooperation between the two organisations to develop the valuation profession, enhance professionalism and promote international business valuation standards.

    We expect guests not only from Europe, but also from all over the world.

    Speakers will be invited from The International Valuation Standards Council (IVSC), American Society of Appraisers (ASA), International Association of Certified Valuation Specialist (IACVS), International Institute of Business Valuers (iiBV) and Business Valuation resources (BVR) to share the latest in the valuation field.

    IACVS president William Hanlin will be the speakerand give a lecture of "The BV Profession:  The Urge to Change"  in the IVSC - ANEVAR Conference.

    For more information, please click the Conference Website and the Promotion Video.

  • 27-07-2018 19:51 | Lisa Guo (Administrator)

    Certified Merger & Acquisition Advisor ---Certification Program

    September 3rd - 7th, 2018

    School of Economics, Singapore Management University

    The Alliance of Merger Acquisition Advisors (The Alliance) is the premiere International Organization serving the educational and resource needs of the middle market M&A profession. Formed in 1998 to bring together CPAs, attorneys and other experienced corporate financial advisors, The Alliance's 1100+ professional services firms including some of the most highly recognized leaders in the industry--draw upon the combined transactional expertise to better serve the needs of their middle market clients worldwide.

    The Alliance members represent sellers and buyers of businesses ranging from S5 to S500 million in transaction value. Their services are seller representation, buyer representation, due diligence, accounting, financing business valuation, tax planning, legal, strategic advisory, and many other transaction services.


    The Alliance members convene regularly for training and continuing education the semi-annual conferences cover a wide range of topics of interest to bur mem bers, but most importantly, AMRAA members gain the most benefit from. the networking opportunities available to them and their middle market Advisory colleagues.

    For the Agenda and Speakers, please click CM&AA Brochure Singapore Sept 2018 to download Brochure.


    Questcorp Global Inc & The Alliance of M&A Advisor (AM&AA)

    International Association of Certified Valuation Specialists (IACVS)


    Yeann Tan

    +603 8933 6220

    (Monday - Thursday 9.00am - 6.30pm, Friday 9.00 - 5.00pm)

  • 07-12-2017 19:46 | Lisa Guo (Administrator)

    Join the SECBA, with BVR and IACVS for the 2018 Annual Conference, Valuations in the Future. The world continues to flatten as international issues touch all appraisers and valuators. The impact of international operations, the global economy, global competition and the convergence of valuation standards pose challenges to every business appraiser and valuator. Join us in Atlanta for another information rich conference. Network with esteemed professionals and share ideas with national thought leaders.

    Topics ── Valuations in the Future

    ◆ Economic update ◆ Standards Updates - CEIV, IVS, USPAP, NACVA's Appraisal Review, peer review, Mandatory Professional ◆ Risk, thinking about it from a different perspective. Another view-point when estimating risk ◆ Update on valuations in China ◆ Personal Good-Will in M&A transactions ◆ Block Chain and other electronic payment ◆ Resources - Opportunities & Challenges ◆ M&A valuations v fair value valuations v fair market valuations ◆ An Ounce of Prevention is Worth a Pound of Cure - HIPAA Tips for Appraisers ◆ Fairness Opinions, challenges & pitfalls

    Conference Agenda 

    Friday, 9 February, 2018  
    12:00 PM - 1:00 PM BOX LUNCH
    1:00 PM - 5:30 PM

    Standards Updates - CEIV, IVS, USPAP, NACVA's Appraisal Review, Peer review, 

    Mandatory Professional; Risk, thinking about it from a different perspectivel;

    Another view-point when estimating risk.

    6:00 PM - 7:00 PM FELLOWSHIP HOUR (cash bar)
    7:00 PM - 9:00 PM GROUP DINNER (at hotel)
    Saturday, 10 February, 2018        
    7:00 AM - 8:00 AM Continental Breakfast, Buffet
    8:00 AM - 12:30 PM

    China Issues; Personal Good-Will in M&A transactions; 

    Block Chain and other electronic payment;

    Resources - Opportunities & Challenges.

    12:30 PM - 1:30 PM LUNCH
    1:30 PM - 5:30 PM

    M&A valuations v fair value valuations v fair market valuations; 

    An Ounce of Prevention is Worth a Pound of Cure;

    Fairness Opinions, challenges & pitfalls; 

    Fairness Opinions, challenges & pitfalls.

    CPE Information

    Prerequisites:  Mid-to advanced business valuation background, topics are advanced

    Program level: Intermediate to advanced 

    Preparation time:  NONE

    Delivery method: Group, live discussions with practicing experts

    Recommended CPE: 5 hours Friday Feb. 9  and 9 hours for Saturday Feb. 10 (specialized knowledge and application in the field of study known as business valuation/appraisal)

    Sponsoring CPE Provider: Business Valuation Resources, LLC

    Registration Information:

    Conference Fee $505 per person includes registration: electronic conference materials (we are going paperless in an effort to be green and keep conference costs down), lunch and dinner on Friday, and continental breakfast and lunch on Saturday.  Special pricing for students, professors, and/or spouses is available.  An Early Bird Discount of $50(Discount Code:SECBA2017Special)for all full price registrations received before November 24.

    All payments should be made at registration ($505, $455 with an early registration. Students, professors, and accompanying family members pay for food only [$250]). 

    Please Click to REGISTER NOW

    For additional information you may contact:

    Robert Brackett, ICVS, CVA, CPA, MM, CGMA

    +1 630 344 2355 ; 

  • 02-11-2017 19:44 | Lisa Guo (Administrator)

    The International Forum on New Development of Valuation has been successfully held from 2011 to 2016. Valuation experts have presented from America, England, Australia, Russia, Canada, Singapore, Japan, Taiwan, Hong Kong and other countries and regions.  These Forums have also attracted the leaders of relevant government agencies, scholars, local valuation experts, and business executives in China.  The attendees have taken part in the forums to engage in lively discussions with each other.

    The 7th International Forum on New Development of Valuation will be held in Beijing from December 2nd to 3rd in 2017. Capital University of Economics and Business (CUEB) will be the sponsor and venue of this year’s forum in cooperation with the American Society of Appraisers (ASA), Business Value Research Center of Zhongnan University of Economics and Law (ZUEL), Economic School of Xiamen University and International Association of Consultants, Valuators and analysts (IACVA). The forum is supported by China Appraisal Society and other institutions as well.

    The forum provides a platform for experts and scholars from around the country and from other parts of the world to present ideas on the latest development of valuation. Meanwhile, CUEB will collect papers from both academic and the professional experts, selecting the best and most excellent papers for presentation at the Forum. 

    The Forum’s main theme for 2017 is “New Developments in Valuation.” We cordially and formally invite you to attend our forum as guests. Details of the forum are as follows:

    I. Topics for the Forum

    1.The valuation for M&A 

    2.The valuation of cultural and creative industry

    3.The valuation of internet companies

    4.The valuation of cyclical companies

    5.The valuation of financial assets

    6.The valuation of mineral rights

    7.Valuation for financial reporting

    8.The new progress and economic effect of valuation standards.

    9.Other cutting-edge issues of valuation

    II. Paper Submission

    In association with the up-coming forum, we are inviting valuation professionals to submit papers in relation to the topics outlined in section I above. Papers intended for submission must be original and have never been published before elsewhere.

    Please send an electronic copy of your papers to our forum mailbox ( before November 15, 2017 with the following information:

    ◆ Topics of the papers 

    ◆ Information of the author including author’s name, position in the organization, name of the organization, postal code, email address, contact number.

    ◆ Papers should include the following: Chinese & English Title; Chinese & English Summary (clarify the essence and academic innovation of the paper, at most 300 words); Chinese & English Keywords (at most 5); Contents, references and citation.

    Please submit papers, in Word format, through an email with heading “paper for the 7th International Forum on New Development on Valuation - the first author’s name”. the attached electronic version paper should be named “main title of the paper- and author’s name”.   

    III. Expenses

    ● Forum fee:

    RMB 800 per person, RMB 400 per student.

    ●Transportation and Accommodation are not covered.

    IV. Contacts

    Contact unit: School of Public Finance and Taxation of Capital University of Economics and Business

    Contact address: No. 121 Zhangjia Road Junction, Fengtai District, Beijing

    Postal code: 100070

    Contacts:Mr. Fan (Mobile: +86 13321111126) 

               Mr. Liu (Mobile: +86 18610093670)


    V. Forum Registration

    Please fill the “Forum Registration” and then return it before November 20, 2017 by email to the Forum Organizing Committee. 

  • 11-09-2017 19:43 | Lisa Guo (Administrator)

    BVAM (Business Valuers Association of Malaysia), the IACVA Malaysia Charter, will organize the second ICVS training course on November 18-20, 2017 after it has successfully conducted its first ICVS training class in 2015.  

    This Course will provide the fundamentals of each approach to valuation, together with limitations and caveats on the use of each, as well as extended examples of the application of each. At the end, participants should be able to

    ◆ Understand the Valuation Process

     Value “problem” firms, such as financially troubled firms and startup firms

     Understand the DCF, Asset and Multiple Approaches to Value

     Provide Critiques of these Approaches

    If you want to bolster your skills to create and maintain a thriving practice, and acquire an international qualification in Business Valuation as well as be involved in business valuations in Malaysia, please click the course flyer to find more information and email the registration form to BVAM.

    Participate will obtain a Certificate of Attendance and become eligible for membership with BVAM and IACVA. After passing the course exam and submit a case report for approval, participants can become an International Certified Valuation Specialist (ICVS) and get the ICVS certificate from IACVA.

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