The IACVA Annual World Council Meeting was successfully held on December 12, 2015 in Dubai. Charter and Chapter representatives from 6 countries and regions joined the IACVA Board of Directors and Executive Officers in enthusiastic discussions about reshaping the global valuation landscape in 2015 and beyond!  It's the first time that the new charter - IACVA Malaysia joined such meeting.

The Fifth International Conference on New Development of Valuation was successfully held by the School of MBA at Zhongnan University of Economics and Law, Wuhan, Hubei Province, China with support from IACVA from December 5th to 6th in 2015.  The theme of this conference is “Appraisal, Financial Development and Economic Transformation”.

On December 5, Mr. William A. Hanlin, President & CEO of IACVA, presented for the conference "Public Private Partnership (PPP) - An Opportunity for Valuation".  Based on his own practical experiences, Mr. Hanlin discussed the current development situation and the future trends of the international financial and assets appraisal industry around the world.

Over 100 experts and scholars from CAS (China Appraisal Society), ASA (American Society of Appraisal), IACVA, RICS, Asset Appraisal Research Center of Xia Men University, the Financial School of Capital University of Economics and Business, stakeholders from governments, business, and non-governmental organizations, academics, policymakers, and appraisal institutes attended the conference.

Register at http://www.cvent.com/d/mrqvr8

On December 13, 2015, IACVA is drawing experienced business valuation professionals from America, China, Australia, South East Asia, Africa, India and Europe to Dubai to share insights on valuation theories and practices in today’s global economy.

Please join us for this International Conference at this exciting financial hub of the Middle East countries!  Register early and take advantage of the member discount and early bird special.

We are also accepting paper submissions for this conference.  Please only send original work that has not been previously published.  You can earn free registrations to the IACVA-Middle East International Conference.

Regarding for registration, hotel and course agenda, please visithttp://www.cvent.com/d/mrqvr8 

For further inquiries, please e-mail our conference organizing team dubai2015@iacva.org or Ms. Leila Atwi leila.atwi@gmail.com.

IACVA's CPE Requirement

Each ICVS (International Certified Valuation Specialist) is required to earn 12 hours of professional education each year.  Members must attest at the time of annual membership renewal that they have satisfied such requirements during the past 12 months.  Evidence of compliance should be maintained by the associate member and is subject to a random review by the Charter. IACVA does not define specific courses as a member's selection will depend on local conditions.  In general, courses or conferences with a business valuation, litigation, appraisal, fraud, detection or deterrence, or forensic accounting focus comply. When in doubt, members may consult their Charter or IACVA Headquarters member service specialists to obtain an assessment.  Associate Members must keep detailed records available for review when requested. Members attest annually to (continued) ethical conduct, meeting our continuing professional education requirements, and payment of annual dues.

CPE Information

Prerequisites:  Knowledge of Business ValuationProgram Level:  IntermediatePreparation Required:  NoneDelivery Method:  Group LiveRecommended CPE:  2 Credit Hours

CPE Course & Schedule:  CPE Event CalendarWe're pleased to announce that we have scheduled online training sessions in the next months.  We would encourage more qualified members to participate.  

Course Name	Instructor	Date	Course Duration
Common Errors in Business Valuation	Richard Claywell	UTC 2:00am-4:00am November 18, 2015	120 minutes

For  more information on this course, we will update soon.

Course Name	Instructor	Date	Course Duration
Forcasting Cash Flows	Chirs M. Mellen	UTC 1:00pm -3:00pm Spetember 21, 2015	120 minutes

Valuation is a prophecy of the future.  Buyers invest in companies based on future expectations.  Therefore, fundamental to almost any valuation of a going-concern business is a set of financial forecasts.  This course will demonstrate that a capitalization of cash flow method and a market multiple method are each as much a forecast as a discounted cash flow method.  It will demonstrate the building blocks involved in forecasting and alert the appraiser to several forecasting errors that can be made.

Learning Objectives

• Review the fundamental essentials to forecasting cash flows

.• Assess Management's forecasts.

• Understand how to help Management help the appraiser develop forecasts when the Company has none.

• Walk through a "role play" discussion between Management and the appraiser to develop forecasts for a valuation assignment.

• Discuss the optimal time horizon to forecast in each scenario. • Explore the option of multiple forecast scenarios and a probability analysis.

• Introduce when a three-stage discounted cash flow is better for a valuation assignment.

• Determine the applicable terminal value.

• Identify common errors in forecasting.

• Check the reasonability of your forecast.

• Share relevant language in an engagement agreement regarding forecasts.

Course Name	Instructor	Date	Course Duration
Current Valuation Updates	Robert Brackett	UTC 2:00pm - 4:00pm October 29, 2015	120 minutes
Current Valuation Updates	Robert Brackett	UTC 1:00am - 3:00am December 3, 2015	120 minutes

For more information on this course, will update later.

Course Name	Instructor	Date	Course Duration
Engagement Management	William Hanlin	UTC 5:00pm-7:00pm November 5, 2015	120 minutes
How to Promote Your BV Practice	William Hanlin	UTC 5:00pm-6:00pm November 13, 2015	60 minutes

For more information on this course, will update later.

Registration Fees:   Member (USD $195)    Non-member ( USD $225)

Everyone is welcome.  Sign up 30 days in advance will save you $30!  REGISTER NOW.  Click HERE to view additional courses or email to info1@iacva.org.

Mr. William Hanlin, the CEO & President of IACVA, attended the 7th International Appraiser Conference jointly held by World Association of Valuation Organizations (WAVO) and China Appraisal Society (CAS) on November 11 &12, 2015 in Beijing China.  Mr. Hanlin delivered a speech named “Public Private Partnership (PPP)”.  Based on his own practical experiences, Mr. Hanlin discussed the current development situation and the future trends of the international financial and assets appraisal industry around the world.  Below is the highlights of his speech.  

● Overview of PPP

● Why PPP?

● Supply of PPP

● Challenges of PPP

● A Valuators Opportunity

● Conclusion

There are more than 170 representatives attended the meeting.  They are from the National People's Congress (NPC), the Ministry of Finance, the State-owned Assets Supervision and Administration Commission of the State Council, WAVO, HKIS, SISV, IACVA, ASA, CAS, valuation firms and universities etc.

IACVA successfully conducted its first ICVS Certification Training Class in Malaysia from August 17 - 28, 2015. This training course was jointly held by National Institute of Valuation and Property Services Department Ministry of Finance Malaysia (INSPEN).  Forty candidates from Malaysia and Singapore took part in the two week training.

Our distinguished senior instructor, Mr. Robert Brackett, taught the business valuation theories and methodologies, and answered many questions from keen candidates. 

Mr. William Hanlin, the President and CEO of IACVA, met with candidates and shared his personal experience and real life cases while teaching the Introduction to Intangibles Valuation class.  The class participants responded enthusiastically to his depth of knowledge and approachability.

Mr. Chris Mellen of Valuation Research Corporation shared many examples and case studies from an experienced practitioner’s perspective. He also expanded the business valuation core knowledge with an in-depth discussion on advanced topics such as Cost of Capital, Forecasting Cash Flow and Purchase Price Allocation.

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

Last but not least, we owe a big thank-you to the kind support of Mr. Faizan Bin Abdul Rahman, Mr. Elvin Fernandez, Ms. Sr Faziah Abd Rasid, Ms. Susan Yi, Ms. Lisa Guo and the support staff from INSPEN.  We couldn’t have done it without you!  THANK YOU!

All of us are looking forward to the next training in Malaysia!

Dear Sir/Madam,

We are sending you the Exposure Draft for Quality Control for Valuation and Appraisal Practice. The Quality Control Standards are endorsed and sponsored by WAVO. This is the first ever quality control standards to the profession to enhance and enrich the public trust. Please send your comments to qc@iacva.org by October 31, 2015. Please click QC for Valuation and Appraisal 2.1 to browse the Draft.

Thank you,

IACVS Member Team

In an effort to standardize ICVS certification exams, we are taking the steps to restructure our testing and exam grading procedures.  In 2014, all multiple choice questions were mandatory to be given online.  These questions are randomly generated and graded by the computer.  It has improved great efficiency and accuracy for all involved.  More importantly, it has greatly improved confidence for the candidates.

Recently,we have conducted several case grading sessions to train qualified case study reviewers.  Members from Middle East, Australia, Ecuador, Singapore, Korea and China attended this training. 

We are pleased to announce that we will quarterly schedule an online training session with IACVA's Director of Education, Mr. Richard Claywell in the near future.  We would encourage more qualified member to participate.  Below are the requirements and registration details:

Qualifications of the graders:

1. Must be an active and credentialed member of IACVA
2. Fluent in English and the local language
3. Experience in business valuation for over 3 years
4. Experience in teaching for IACVA certification courses (preferred but not required)
5. Current officer/board member of HQ or local charter (preferred)
6. Willingness to mentor candidate (must follow IACVA guidelines)
7. Must complete Case Study Grading training conducted by IACVA
8. ALL graders must take an open book exam to demonstrate they possess the necessary knowledge as a qualified grader.

Time slots for upcoming training: Greenwich Mean Time(GMT) 1:00-3:00am, October 15, 2015

Training format: Online and group discussion via Skype.  Please make sure you have Skype program installed in your computer.

Cost: USD $245 per participate.  Qualified reviewers will enter into a non-disclosure agreement with IACVA and will be compensated USD $150 for each case graded according to IACVA guideline.

Registration credit card payment link: www.iacvabookstore.org/charters 

Please RSVP by replying e-mailing: info1@iacva.org with participant's CV and business reference contact information.

For additional inquiries, please feel free to contact us at any time. 

IACVA's CPE Requirement

Each ICVS (International Certified Valuation Specialist) is required to earn 12 hours of professional education each year.  Members must attest at the time of annual membership renewal that they have satisfied such requirements during the past 12 months.  Evidence of compliance should be maintained by the associate member and is subject to a random review by the Charter. IACVA does not define specific courses as a member's selection will depend on local conditions.  In general, courses or conferences with a business valuation, litigation, appraisal, fraud, detection or deterrence, or forensic accounting focus comply. When in doubt, members may consult their Charter or IACVA Headquarters member service specialists to obtain an assessment.  Associate Members must keep detailed records available for review when requested. Members attest annually to (continued) ethical conduct, meeting our continuing professional education requirements, and payment of annual dues.

CPE Information

Prerequisites:  Knowledge of Business ValuationProgram Level:  Intermediate Preparation Required:  None Delivery Method:  Group Live Recommended CPE:  2 Credit Hours

CPE Course & ScheduleWe're pleased to announce that we have scheduled 6 online training sessions in the next three months.  We would encourage more qualified members to participate.  Below are the requirements and registration details.REGISTER

Course Name: Estimating Expected Equity Volatility  Instructor: Frank Mainville  

Date: GMT 1:00 am May 28, 2015 / GMT 1:00 pm May 28, 2015

Course Duration: 120 minutes

Learning Objectives• Review the fundamental essentials to forecasting cash flows.• Assess Management's forecasts. • Understand how to help Management help the appraiser develop forecasts when the Company has none. • Walk through a "role play" discussion between Management and the appraiser to develop forecasts for a valuation assignment. • Discuss the optimal time horizon to forecast in each scenario. • Explore the option of multiple forecast scenarios and a probability analysis. • Introduce when a three-stage discounted cash flow is better for a valuation assignment. • Determine the applicable terminal value. • Identify common errors in forecasting. • Check the reasonability of your forecast. • Share relevant language in an engagement agreement regarding forecasts.

Course Name: Brand Valuation   Instructor:Rene Hlousek 

Date:  GMT 12:00 June 16, 2015 / GMT 12:00 June 17, 2015

Course Duration:120 minutes

The purpose of this course is to introduce the Residual Contribution Method for valuing corporate brands.  This valuation-driven approach is designed to minimize the high level of irrelevance, subjectivity, as well as lack of practicality that are inherent in the existing population of "marketing-focused" models, by exploring the relation between a business enterprise, its underlying key intangible assets, goodwill, and ultimately, corporate brand value.  The valuation of a corporate brand, which can be viewed in many cases as one of the most valuable assets held by a corporation, is a function of thoroughly identifying, isolating, and quantifying the economic value of that complex array of forces that make up a business enterprise.  Whether held by a financially healthy or distressed company, the valuation drivers surrounding a corporate brand may be dominated and led by the intangible assets held by the entity employing it.

Registration Fees:   Member (USD $195)    Non-member ( USD $225)

Everyone is welcome.  Sign up 30 days in advance will save you $30!  REGISTER NOW.  Click HERE to view additional courses or email to info1@iacva.org.

The inaugural 2015 International Valuation Forum in Atlanta, Georgia, USA on May 7^th and 8^th of 2015 is jointly sponsored by BVR (Business Valuation Resources), IACVA (International Association of Consultants, Valuators and Analysts), CEIC, Wiley and Duff & Phelps; all major participants in the international valuation arena.

Participants from around the world have begun to sign up, including Australia, Canada, China, Ghana, India, Korea, Lebanon, Russia and the United States! This will be your opportunity to meet practitioners and data/information/research suppliers from around the globe, as well as to increase your professional network and make new friends. Register!

Venue: Westin in Buckhead Hotel (http://www.cvent.com/d/5rqkvg/4D) ,Atlanta, Georgia, USA
Website: www.iacva.org
Features of the Forum
• Learn what new research and data is now available (BVR, CEIR, Duff & Phelps, and others)
• Learn how actual valuation experts are using new data, throughout their analyses
• Learn the current "Best Practices" in business and intangible valuation
• Learn new "fair value" changes
• Receive an introduction to current and anticipated changes to valuation standards such as the IVS
• See the latest approaches in mining, oil & gas, brands, valuations for tax, and Intellectual property
• See valuation developments in emerging economies
Fees
We provide discounts for professors and students. Early bird discounts are still available. More  
Fees (http://www.cvent.com/d/5rqkvg/2A);
This forum focuses on valuation matters impacting the international and global valuation business. View Event  
Summary (http://www.cvent.com/d/5rqkvg);
It is a distinct opportunity for you. We will organize a welcome cocktail and city tour (pending) .View Event
Agenda (http://www.cvent.com/d/5rqkvg/6X);
Register Here, please contact us if you have any troubles on registration.
For further information on the Forum, please contact:
2015 International Valuation Forum Service Center
Tel: +1 630 653-7922
E-mail: atlanta2015@iacva.org