Toronto, CANADA – The International Institute of Business Valuers (iiBV) and International Association of Consultants Valuators and Analysts (IACVA) announce that IACVA has become a member of iiBV as a first step towards the two organizations developing a comprehensive strategic alliance to develop business valuation courses worldwide and build upon the IAVCA designation, the International Certified Valuation Specialist (ICVS). 

The iiBV and IACVA will work together to develop a uniformly high standard of professional education courses and testing products that meet the needs of international business valuators and their related VPO's, government agencies, and regulators.  The training products will be "IVS-aware" and designed for both translation into other languages and for the addition of nation-specific modules. These training products will be delivered around the world both in-class and online. Business valuation professionals who complete the core training program of the iiBV and achieve a passing grade on the final exam will be designated as an International Certified Valuation Specialist, proudly, the ICVS.

“The collective efforts of iiBV and IACVA will have a profound effect on the international development of uniform best practices for the growing professional valuation community.  This is an important step in the continuing efforts to the on-going need to earn the trust of all stakeholders: clients, auditors, regulators and the investment community,” says Bill Hanlin, President/CEO of IACVA.

Edwina Tam, Valuation Partner at Deloitte’s Hong Kong office and Chair of iiBV’s Board of Directors added that “The iiBV is supported by senior business valuers from around the world who are committed to helping the iiBV develop the highest quality professional education. Our belief is that a high quality of education will improve the reputation of business valuers with users of valuation reports and government regulators, ultimately leading to the growth of the profession.”

“For the past 5 years, senior business valuers around the world have been asking for a top-of-the-market education and training program, aimed at achieving a globally recognized designation as well as covering advanced topics that are constantly emerging and changing,” says David Foster, CEO of BVR.

As part of the strategic alliance, Bill Hanlin will join the iiBV Board of Directors and various senior IACVA representatives will join the Education Committee of the iiBV.  Michael Badham and Peter Ott will join the Board of IACVA.

Andrew Strickland, Consultant at Scutton Bland Chartered Accountants, London, United Kingdom, and Chair of iiBV’s Education Committee commented that: “During 2017, the iiBV’s goal is to be offering its suite of courses(iiBV 100, 101, 102, 103 and 105) on-line in a modular self-study format, together with exams to support the accreditation process and the IVSC’s plan to develop an international designation.”

The iiBV, together with its member valuation professional organizations, leads the business valuation profession globally by providing business valuation education courses and course materials at the highest professional standard, promoting consistent professional ethics and standards, facilitating the exchange of information and ideas, and encouraging international co-operation and communication among business valuation professionals and organizations.

Founded in 2000, IACVA embraces a broad membership of professionals, students, regulators, academicians and others interested in the field of business valuation and fraud deterrence. This broad-basis brings new ideas and discussions on the best practices essential to a growing professional discipline.

IACVA’s core objective is to transfer best practices in both valuation and fraud deterrence. IACVA promotes the uniform application of valuation theories, approaches, methods and models throughout the world. In the field of fraud deterrence and forensic accounting, IACVA encourages the development and dissemination of consistent and demonstrable systems and techniques for both detection and prevention of fraud.

IACVA pursues its mission through the establishment and support of national professional associations known as Charter Members. These Charter Members represent distinct regions or countries, each with practitioners/members who provide services to their valuation and fraud prevention communities. 

For additional information, please go to the iiBV website at www.iibv.org  or contact Michael Badham, Executive Director of iiBV at michchaelbadham@iibv.org or the IACVA website at www.iacva.org  or contact Bill Hanlin, CEO of IACVA at billh1@iacva.org 

Mr. Hanlin met with CAS Secretary-General of Dr. Zhang, Deputy Secretary-General of Madame Han and Ms. Han Ning on April 26, giving a pleasant exchange and discussion of events and affairs.

Mr. Hanlin introduced the IACVA new course ­— Valuation for Mergers & Acquisitions and give a brief description. Madame Han presented the appreciation on the advantage and practicability of this course and will bring it in as marathon CPE training course which is run by CAS twice a year for its members. Hanlin agreed to present this course on CAS’s CPE event in Xiamen this year. Hanlin mentioned the general preparation of the International Business Valuation Conference, Dr. Zhang said CAS is willing to be a sponsor of the Conference on November 2-3, 2017 Shenzhen, China. Then, Hanlin and Dr. Zhang had a warmly conversation on other future international events. Mr. Hanlin stated IACVA would continue to have a good relationship with CAS.

On April 27th, Mr. William Hanlin, Chairman of IACVA, was invited to visit the Beijing Appraisal of Society, and met with the Deputy Secretary-General of Pang Jun and the Director of Tang Ke, giving a pleasant exchange and communication on their respective associations’ situation.

Ms. Pang expressed her hot greeting to Mr. Bill's visit. Mr. Bill gave a brief presentation on IACVA’s mission, charter distribution and members, especially introduced the coverage area and daily work of IACVA China charter.

Mr. Hanlin presented IACVA's approaches and requirements on management, membership and member dues matters, the IACVA's recommendation to use the IVS and the internationally accepted financial reporting guidelines. In the meanwhile, he had a brief introduction towards the IACVA online training courses and professional resources which is available to members. He also shared the International Business Valuation Conference information in recent two year: 2015 Dubai conference and 2016 Malaysia conference. 

Mr. Hanlin updated the current condition of business valuation in the United States, specifically conducted detailed analysis on the business valuation practices: valuation for tax, valuation in M & A and valuation on court litigation, he emphasized the business valuation is occupying a more important position in modern social life and economy.

After the interview, Ms. Pang took a photo with Mr. Hanlin and expressed her expectation for the next visit to BAS.

The new IACVA course---Valuation for Mergers & Acquisitions was given by Mr. Bill Hanlin in Seoul, at April 24, 2017. The all-day class was held at the KVA Training Center, 35 attendees sit for this course. The course aimed to give the valuator some ideas for providing valuation services to the M&A market. 

The M&A activity for privately held businesses is a growing service market for valuation professionals.  Differences in valuation for sellers and buyers were explored in depth.  The course presents subjects for the different valuation needs of sellers and buyers.

Professional valuators can provide services other than just valuation reports for buyers who are not sure how to judge the accuracy of the seller’s cash flow projections and other assumptions used to support a selling price.  These other services included a Quality of Earnings engagement which applies valuation techniques to the seller’s projections to uncover the seller’s projection adjustments as well as additional adjustments that might favor either the buyer or the seller.

Resources that are available for comprehensive valuation services, including research options and data, were reviewed with attendees.

The course was concluded with a case study of a real-live M&A engagement.

IACVA and KVA are already discussion the possibility of holding this course again before the beginning of 2018.

In addition, we will host some seminars in the following areas:

1 day seminar in Hong Kong	Valuation for Mergers & Acquisitions	April 29
1 day seminar in Indonesia	Valuation for Mergers & Acquisitions	May 3
1 day seminar in Malaysia	Approaches to Valuation and Case Study	May 8
1 day seminar in Singapore	Valuation for Mergers & Acquisitions	May 13

If you are interested to join the course, please email to cpe@iacva.org for more information.

IACVA president William Hanlin participated in the Winter Conference of AM&AA (Alliance of Merger & Acquisition Analysts) held in Las Vegas on February 1st to 3rd. He met with AM&AA board members and discussed collaboration in Singapore and the upcoming summer conference during 2017 to held in Chicago.

Both organizations acknowledged their members are perfectly aligned to work with each other on cross-boarder M&A deals with special skill sets in valuation and deal-making. The members compliment each other in facilitating collaboration for their clients in many aspects of an engagement.

Stay tuned on more details for upcoming events!

The IVSC held its annual AGM in Bali, Indonesia last November.  This meeting was the single-biggest event for IVSC and its members in many year, concluding a two-year process of revising the International Valuation Standards (IVS).  2016 was very busy with the new exposure drafts and the many comments and responses from members like IACVA. The newly revised standards are very comprehensive and deal with valuation and appraisal issues for valuing businesses and appraisal of tangible property. This effort consumed many thousands of hours by dozens of dedicated professionals who have volunteered their time to make the revised standards useful to all professionals and stakeholders.

Our IACVA Standards Committee, under the guidance of James Catty, ICVS (Chairman Emeritus) and Jim Horvath, ICVS, Chairman, produced dozens of comments and suggestions to clarify and improve the drafts of the new version of IVS.

The IVSC, under the very capable Sir David Tweedie – IVSC Chair, will now promote global adoption of the new IVS, country by country, as the universal valuation standards.  This effort will be much like the experience of the accounting standards under IFRS that have been adopted by more than 120 countries for their professionals.

IACVA will be adopting the 2017 IVS as the IACVA framework for valuation work, report writing, and governance of member competencies and ethics.  We believe this is a major turning point for the establishment of a truly global valuation profession where all valuation professionals have the same set of standards.

We encourage all IACVA members and stakeholders to view the 2017 IVS (www.ivsc.org) and to forward comments to IACVA with any suggestions on this matter (info1@iacva.org). Your IACVA Board believes that the adoption of the IVS is a big step forward for all IACVA members.

Please click IVS to view the new standards.

Respectfully submitted,

Bill Hanlin, Jr. CPA, ICVS

Mr. William Hanlin, CEO & President of IACVA, attended the Southeast Chapter of Business Appraisers’ 2016 Annual Southeast Regional Conference jointly held by SECBA, IACVA and BVR on September 30th and October 1st, 2016 at the Westin Atlanta Airport Hotel in Atlanta, Georgia, U.S.A.  The topic of the conference is “Valuation in an Upside Down World.”  The presentations at this year’s conference were focus on some major challenges we face as the businesses we value move closer to international borders and cross them.  

During the conference, Mr. Hanlin delivered a speech named “International Update on Peer Review and impact on the valuation world.”  Mr. Robert Brackett and Ms. Susan Yi from IACVA, along with other 30 business appraiser and valuator also participated in this conference.

The next SECBA conference will be held at the same time in Atlanta, USA in 2017.

IACVA and the IACVA - Malaysia Charter (BVAM), together with, BVR, held a busy and well attended conference at the Royale Chulan Kuala Lumpur hotel on September 19, 2016. The conference was opened with remarks by Malaysia’s Deputy Minister of Finance, Data’ Othman Bin Aziz, who discussed the importance of business valuation to the Malaysian economy. Presenters included experienced business valuation professionals from six continents - Africa, Asia, Australia/Oceania, Europe, North America and South America who shared insights on business valuation theories and practices in today’s global economy. Over 160 participants attended the conference.  

Datuk Sr Haji Faizan Abdul Rahman, president of IACVA Malaysia Charter (BVAM), expressed his warm welcome to all participants and discussed the development of business valuation in Malaysia. Jim Horvath, Chair of IACVA, expressed IACVA’s welcome and thanks to all attendees, and wish for the conference to successfully complete. Dato’ Othman Bin Aziz, the Deputy Minister of Finance, Malaysia, elaborated on the development and future of the business valuation industry in Malaysia. He spoke highly of IACVA leadership and all the efforts of the IACVA Malaysia Charter already accomplished. Mr. Othman also expressed the desire of the Malaysian Ministry of Finance for the current 39 ICVS professionals to increase to 1,500 within 10 years’ time. He discussed how business valuation skills have become indispensable in the economic crossroads of Malaysia.  His bright outlook for the future of business valuation in Malaysia drew an enthusiastic response from the attendees.

After the opening ceremony, three presenters - Dr. Bian Ronghua, Dr. Sung Soo Seol, Mr. Eugene Liu shared business valuation practice and development in China, Korea and Hong Kong. They answered questions from attendees.

Mr. Elvin Fernandez (Malaysia), Mr. Budi Martokoesoemo (Indonesia), Mr. Cheng Soon Keong (Singapore), and Mr. William Yuen (Hong Kong) discussed their insights on valuation theories and practices in their respective countries and for international practices.

Lunch at the Royale Chulan Kuala Lumpur hotel was busy with questions between attendees and presenters.

Following the spirited lunch discussions, Mr. Chan Chi Wah (China) delivered his paper “Due Diligence in Business Valuation”. Mr. Li Xiang (China) followed with a summary of his experience on global valuation projects. Ms. Chen Qian (China) then discussed an “Introduction of China’s Asset Appraisal Law”. Mr. Sunday Ojedid (Nigeria) then presented his paper entitled “In Search of Global Uniformity of Valuation for Compensation Purpose” (concerning eminent domain issues). Attendees asked difficult, real world questions.

The location for the 2017 International IACVA Conference was announced, Shenzhen China, with a date of September or October 2017.The conference concluded with a session focused on practice management tips. Discussions included the need for transparency, issues with terms and distinctions (e.g. fair value, fair market value, market value, valuation date, report date) and the ongoing need to educate our stakeholders (bankers, regulators, and others) on the need and usefulness of valuation experts.

IACVA’s Annual World Council Meeting (2016) was held on September 18, 2016 in Kuala Lumpur, Malaysia as Charter and Chapter representatives from around the globe joined the IACVA Board of Directors and Executive Officers in discussions about the current and future global valuation landscape.  

Mr. William Hanlin (President) opened the meeting, welcoming the many Charter and Chapter leaders and chaired the meeting, encouraging input and discussion from everyone at the table. The agenda included reports by charter leaders of their 2016 events and plans for 2017; before turning to discussion of quality control standards and the accompanying peer review project, copyright issues, and resources available through BVResources. 

Mr. Hanlin also announced the next world council meeting will be held in Shenzhen, China.  The date will be sometime in September- October of 2017.

This course is designed to provide the latest update on valuation theory, standards, best practices and happenings around the globe.  It is hosted by Mr. Robert Brackett and will invite guest speakers from global standard setters as well as distinguished scholars from various countries as needed.  

* Be kept up to date with global valuation topics and issues

* Hear expert insight on professional development

* Industry best practices on current valuation field

Training Date

September 2, 2016 (7:30am-9:30am Chicago Time)

Instructor: Robert C. Brackett, CPA, ICVS, CVA, MM

Robert C. Brackett has served as president of Crandall & Brackett, Ltd., since 1991. He is active in professional organizations that provide training and standard setting for business valuators. He is a founding member and secretary general of the International Association of Consultants, Valuators, and Analysts (IACVA), the world’s largest association of business valuators and fraud deterrence professionals with members in over 50 countries.

Mr. Brackett has authored and taught courses in business valuation theory and practice through the Illinois CPA Foundation, the American Institute of CPAs, IACVA, and NACVA.  Mr. Brackett conducts seminars on valuations and ownership issues for many professional associations and business groups, and writes articles for monthly trade publications.  He has presented at numerous international conferences in U.S., China, India, Singapore, Thailand, Vietnam, and Indonesia.

His professional credentials include the following:  Certificate of Educational Achievement in Business Valuations from the Illinois CPA Society, and the American Institute of Certified Public Accountants; as well as the Certified Valuation Analyst designation awarded by NACVA. He also maintains his CPA license, and has been awarded the Chartered Global Management Accountant (CGMA) designation by the AICPA.

Mr. Brackett’s background includes 15 years of general business consulting, five years as an operating nuclear engineer, and an undergraduate degree in industrial engineering. He is also a retired captain in the U.S. Navy Reserves, and is active in the direction of local community emergency planning and response.

CPE Information

Prerequisites:  Knowledge of Business Valuation

Program Level:  Intermediate

Preparation Required:  None

Delivery Method:  Group Live

Recommended CPE:  2 Credit Hours

Registration Fees: $95 (IACVA members)

For further information, please contact cpe@iacva.org.