We’re pleased to announce the International Association of Certified Valuation Specialists (IACVS) and the National Association of Authorized Romanian Valuers, Romania (ANEVAR) have reached a cooperation agreement in November 2019. 

Several years ago, William Hanlin (CEO & President, IACVS) met Dana Ababei (President, ANVAR) in a conference. They have continuously discussed the benefits and possible rolls under several formats of potential cooperation between associations in many conferences they both attended. After additional communications and discussions an agreement has been formalized.

The two associations agree to work together for the purpose of their respective organizations and legal entities associations. The goal of this agreement is the efficient development and functioning of a relationship in order to carry out joint scientific, research, practical, consulting, teaching, methodical and other activities for their heads, staff members, specialists, members of both organizations relationships enhancement and development, make their best to organize their cooperation for own and common interests.

IACVS and ANEVAR will work together in all aspects of member benefits and education opportunities etc.

For additional information contact IACVS Headquarters (info1@iacvs.org) or ANEVAR Headquarters (dana.ababei@anevar.ro)

We’re pleased to announce the International Association of Certified Valuation Specialists (IACVS) and the Chamber of Appraisers of Montenegro (KPCG) have reached a cooperation agreement in November 2019. 

William Hanlin (CEO & President, IACVS) met Slavko Rakocevic (Chairman of the Board, KPCG) during the IVSC Singapore World Council Meeting in October 2019. While there they discussed the benefits and possible rolls under several formats of potential cooperation between associations. After additional communications and discussions an agreement has been formalized.

Both IACVS and KPCG have complimentary synergies and common goals of excellence for their respective membership.

IACVS (a Canadian not-for-profit entity, headquartered in Toronto, Ontario, Canada) is a provider of advanced professional training and certification for its global membership in the field of business valuation, bringing the global business valuation community together with common standards and best practices. IACVS operates primarily through its Charter/Chapter Members that now populate the world with practitioners in more than 55 countries. Through these Charters/Chapters, IACVS provides training and certification to professionals and interested persons in business valuation theory, models and techniques (often referred to as “best practices in business valuation”). IACVS confers the ICVS – International Certified Valuation Specialist credential to its individual members who successfully complete a rigorous training and testing program.

KPCG, the recognized leader of valuation throughout Montenegro provides various continuing professional education opportunities to professional real estate valuers and interested persons in the practice of real estate valuation. Currently KPCG has professional association members and is governed by a board of officers. KPCG also has notable experience in delivering training and organizing exams for the issuing of professional vocational degrees in the field of valuation and appraisal.

IACVS and KPCG will work together in all aspects of member benefits and education opportunities (member benefits of each organization will be equally available to members of the other organization).

For additional information contact IACVS Headquarters (info1@iacvs.org) or KPCG Headquarters (slavko.rakocevic@iircg.co.me)

IACVS Malaysia Charter - The Business Valuation Association of Malaysia (BVAM) hosted the conference on valuation of Intangible Assets at the Hilton Petaling Jaya on October 15, 2019. This conference was supported by the Valuation and Property Services of Malaysia (JPPH). Mr. William Hanlin, CEO & President of IACVS, attended the conference and delivered a speech.

Mr. Hanlin pointed out the shifting and accelerating trend of businesses and companies being driven and valued for their intangible capital such as intellectual property and other intangible assets have not slowed down. In fact, numerous market studies have shown that businesses are increasingly more savvy about these invisible assets in the knowledge economy where intangible rules. This conference was timely to address the various opportunities and challenges proffered by this shifting tide, to c-suite executives, entrepreneurs and service providers on the current best practices of valuing business and its intangibles, challenges and new insights with the rise of increased sophistication of companies in monetizing their IP rights. Tangible assets such as cash, stocks, machineries or office buildings are no longer the main criteria for assessing market value, but intangible assets such as intellectual property occupy a central position. A key reason for ensuring the valuation of intangible assets is that in the event of intellectual property infringement and disputes, economic losses can be valued to facilitate claims.

Mr. Elvin Fernandez pointed out: “With more appraisers who can conduct professional and accurate assessments of intangible assets, we hope to stimulate the growth of intangible assets as recognized assets in domestic financial markets.” He added: “The valuation is a general profession, and the basic concept of valuation cannot be changed. The concept of valuation is used as a defined accounting term that applies to any tangible or intangible asset.” He made a comparison between real estate valuation and business valuation. According to him, the board of valuers, appraisers, real estate agents and property managers committee are revising and upgrading the Malaysian Valuation Standards and this will include a separate section referred to as Guidelines on Business Valuation which will include an intangible asset valuation.

Ms. Christine Ng explained that the government recognized IA and IP as critical elements in the growth of SMEs as early as 2010. She said that over the years, there are in place various types of funds by government-based agencies to enable companies to monetize their IP. Apart from obtaining loans, intangibles play a crucial role when a smaller tech-based company or SME has an acquisition or joint venture opportunity on the cards. Therefore, when valuing such a merger, valuation of the intangibles plays a crucial role in ensuring that the SME gets a fair value for its IP. She pointed out that IPs are a large part of a company's value in more developed economies. If a SME is rendered bankrupt, its registered IP, be it a trademark, brand or patent, can be carved out and sold to an interested buyer, usually a competitor. She cited the example of Kodak. In 2012 Eastman Kodak sold its digital imaging patents to a consortium of bidders, which included Google and Apple, for US$525 mil after filing for Chapter 11 protection earlier that year.

Mr. Ang Kok Heng revealed that many SMEs have not approached the banks to apply for loans as many of them have yet to register their IPs. While lauding the government's move to recognize the importance of IPs and its role in improving SME liquidity, Ang believed initiatives still need to be focused on providing education, awareness and financing to register an IP. Ang called on government bodies and relevant agencies to conduct roadshows and talks on the importance of registering IPs. He also hopes there will be more funding opportunities, with grants being made more easily available for SMEs to register their IPS.

At present, the lack of registered IPs means the SMEs operators are not able to obtain funding using their IP as collateral. Similarly, in the event of infringements, when an IP is not registered, the SME is not able to take the culprit to court as the IP is not registered and therefore not subject to legal backing.A registered IP has inherent rights and laws that govern it. Said by FocusM V. Sanjugtha.

Participants said that by participating in this conference, they have gained a deeper understanding of intellectual property and intangible assets valuation. They hope that BVAM and IACVS Headquarters will be able to hold more lectures and conferences to facilitate communication and learning in future.

The growing importance of intangible assets in the 21st century and the proliferation of financial fraud on a global scale are increasingly being valued. IACVS's mission is to disseminate professional theories and standards in the field of business valuation and anti-fraud, providing professionals with the best practical mode of operation. In the field of business valuation, IACVS promotes the normative application of assessment principles, methods and models around the world. In the field of anti-fraud and court litigation support, IACVS develops and disseminates operating systems and technologies for reconnaissance and anti-fraud. For more information please contact info1@iacvs.org.

The Business Valuers Association Malaysia (BVAM) will host the Conference on Valuation of Intangible Assets 2019 at the Hilton Petaling Jaya on October 15. This conference is supported by the Valuation and Property Services of Malaysia (JPPH). Mr. William Hanlin, CEO & President of IACVS, will attend the conference and deliver a speech.

Course Objective

The shifting and accelerating trend of businesses and companies being driven and valued for their intangible capital such as intellectual property and other intangible assets have not slowed down. In fact, numerous market studies have shown that businesses are increasingly more savvy about these invisible assets in the knowledge economy where intangible rules. 

This conference is timely to address the various opportunities and challenges proffered by this shifting tide, to c-suite executives, entrepreneurs and service providers on the current best practices of valuing business and its intangibles, challenges and new insights with the rise of increased sophistication of companies in monetising their IP rights. This conference will see a gathering of industry leaders and practitioners and service providers in sharing their insights and experience with participants through plenary sessions and carefully tailored and moderated panel sessions. 

Speaker:

*  Sr Elvin Fernandez, President of BVAM

*  Director General of  Valuation and Property Services Department of Malaysia (JPPH)

* YB DATO’MOHAMAD ROSLAN MAHAYUDIN Director General of Intellectual Property Corporation of Malaysia (MyIPO)

* WILLIAM A. HANLIN JR., President and CEO of IACVS

* SRIVIDYA GOPALA-KRISHNAN, Managing Director, Duff &Phelps Singapore

* DATO’ DR.RAJEN M, Chief Executive Officer Holista Colltech Ltd

* JAMESY LAYA, Partner, Chartered Valuer and Appraiser, KPMG Singapore

* Moderator: Christine NG, IP Valuation Director, Adastra IP (M) Sdn Bhd

* Tyler Capson, Managing Director, Asia EverEdge Global

* GARY MAN, Managing Director at GCA Asset Services Limited (Hong Hong)

* Peter Willimott, Senior Program Officer, World Intellectual Property Organization (WIPO)

Agenda and Registration Form

Hotel: Hilton Petaling Jaya

10% special rate discount for early bird registration before 30 September 2019 & Group Registration (3 or more))!

To register online, please visit us at bvam.org.my

Please contact the following persons to register:-

Sr Mohd Zamri bin Awang        Tel: 6019 353 5084  E-mail: zamri_awang@jpph.gov.my

Nor Juliana bt Majuki        Tel: 603 89118800           E-mail: norjuliana@inspen.gov.my

Thila Ganesan      Tel: 630 22829699(Ext. 15/129)   E-mail: thila@khongjaafar.com.my

Melanie Murthy   Tel: 6012 292 8195           E-mail: melanie.bvam@gmail.com 

IACVS hosts its 2019 World Council Meeting at the Rendezvous Hotel Singapore on Oct. 9, 2019. The WCM is a meeting of IACVS leaders to review global issues and initiatives for the coming year. Almost 20 participants from United States, Canada, China, Malaysia, Romania, Korea, Singapore etc. joined this meeting.

Opening the meeting, Mr. William Hanlin invites all attendees to introduce themselves, then Mr. Hanlin introduced the new alliances for member benefits and resources for BV practice areas.  He also discussed the IVSC (International Valuation Standards Council) Quality Mark that will become available in the next 12 months.  This Quality Mark will mean that IACVS members can claim to be familiar with International Valuation Standards. 

Meanwhile, Mr. Nick Talbot, CEO of IVSC, dropped in our meeting room and shared the IVSC’s development of this year and trends in the future.

Michael Badham, executive director of iiBV (IACVS Observer Member), introduced the development of course curriculum and costs.  IACVS intends that the iiBV courses is a resource to individual members for continuing education opportunities.  The iiBV online course for IVSC standards will be a significant element for those holding the ICVS to be able to use the IVSC Quality Mark in their professional practices.  Non-IACVS BV candidates who successfully complete iiBV courses may apply for credit towards the requirement of members’ designation (eg: IACVS for ICVS designation). 

Ravi Ramakrishnan, president of C&K Management Company (IACVS Observer Member), gave an update to the ICVS online training course. Work is progressing to map the ICVS exam questions to the ICVS training materials in order to make it much easier for candidates to study for and pass the ICVS examination.

IACVS has promoted the data and educational resources of BVResources (IACVS Observer Member) for a number of years. Mr. David Foster, CEO of BVR Resources, presented at the WCM about these resources. David indicates that data for completed M&A transactions is a priority for collection at BVR so that such transaction data can be available in many parts of the globe.  BVR will announce an initiative with IACVS for the collection of this data using the Charters and Chapters as collection points. The initiate will include a monetary subsidy from BVR for the data collection.  BVR has an agreement with IACVS to allow IACVS translate some of its BV files to local languages for local users.

Elvin Fernandez, the president of BVAM, introduced the development of the IACVS Malaysia charter. They have cut the 5 days training course to 3 days to make it more available for participants to join the class. This requires advanced study prior to the ICVS training, as well as online access to instructors to review questions and resolve valuation theory matters. BVAM will also host the Intangible Assets Conference on October 15 in Kuala Lumpur.

George Badescu, founder of ANEVAR, is the IACVS ambassador in Romania.  For his over 60 years’ contribution to the valuation industry, he was given the Honorary Membership by IACVS.  George shared his life time work in valuation career and he wants to help create uniform valuation standards in Southeast European countries. He told everyone “Knowledge is not private property, we have to share.”  IACVS and ANEVAR will sign a mutual cooperation Memorandum of Understanding (MOU) be the end of 2019.

Jennifer Chen, long-time IACVS member and ambassador to the valuation profession in Taipei, shared the development of IACVS in Taipei for the recent 3 years and the work she has done to promote the ICVS credential to local valuers.  Jennifer has played a key role for IACVS to reconnect IACVS and the Chinese Asset, Business and Intangible Asset Valuation association. The CABIAV was established more than 16 years previous as China and Asia began to realize the importance of business valuation for the development of business.

Wilson Lim and Don Prosard, IACVS Singapore Chapter representatives, shared the valuation in Singapore and the questions they meet when doing valuation projects. Their goal is to push valuation profession to be a higher value to the business community in both Singapore and Cambodia.

Su Zheng Yu and Zhang Chi, manager of Beijing Xinliu Huigu Technology Co., Ltd, (IACVS Observer Member) introduced their company has developed a patent – protected online valuation system Manjusri Valuation Expert System, which can automatically generate valuation reports for SMEs (non-listed companies) when they searching for financing. Currently, 70% of the 34 Equity Exchange Centers (OTCs) in China use the system to provide valuation and value-added services for their listing and display companies. At the same time, Flow Group is committed to a comprehensive upgrade of the English system, seeking international cooperation through IACVS.

Mr. Zhu Jun, representative from Beijing Zhonghe Appraisal Co., Ltd, showed their valuation information service system, Computer Aided Valuation system (CAVS) (M&E) and Financial Professionals Resources (FPR) to all participants. Mr. Zhu Jun is a long-time members of IACVS.

Even though we left limited time to Ms. Chen Qian and Mr. Jiang Dongyong, representative from BeiFang Yashi Appraisal Co., Ltd (IACVS Observer Member), they showed us a great work on valuation projects they have done. According to their experience, it’s very important to cooperate with the local valuers from overseas when doing major cross-border projects. It’s also important to have a good teamwork and clear arrangement when doing big valuation project within required time. All attendees had a warmly discussion and asked many questions on these case project.

We really have no time and feel sorry for not playing the video from IACVS Africa chapter, while we decide to share it to all attendees by e-mail.

The World Council Meeting concluded with Mr. Hanlin indicating that the WCM – 2020 will be announced by the end of 2019!

IACVS hosts its 2019 World Council Meeting at the Rendezvous Hotel Singapore on Oct. 9, 2019. The WCM is a meeting of IACVS leaders to review global issues and initiatives for the coming year. Almost 20 participants from United States, Canada, China, Malaysia, Romania, Korea, Singapore etc. joined this meeting.

Opening the meeting, Mr. William Hanlin invites all attendees to introduce themselves, then Mr. Hanlin introduced the new alliances for member benefits and resources for BV practice areas.  He also discussed the IVSC (International Valuation Standards Council) Quality Mark that will become available in the next 12 months.  This Quality Mark will mean that IACVS members can claim to be familiar with International Valuation Standards. 

Meanwhile, Mr. Nick Talbot, CEO of IVSC, dropped in our meeting room and shared the IVSC’s development of this year and trends in the future.

Michael Badham, executive director of iiBV (IACVS Observer Member), introduced the development of course curriculum and costs.  IACVS intends that the iiBV courses is a resource to individual members for continuing education opportunities.  The iiBV online course for IVSC standards will be a significant element for those holding the ICVS to be able to use the IVSC Quality Mark in their professional practices.  Non-IACVS BV candidates who successfully complete iiBV courses may apply for credit towards the requirement of members’ designation (eg: IACVS for ICVS designation). 

Ravi Ramakrishnan, president of C&K Management Company (IACVS Observer Member), gave an update to the ICVS online training course. Work is progressing to map the ICVS exam questions to the ICVS training materials in order to make it much easier for candidates to study for and pass the ICVS examination.

IACVS has promoted the data and educational resources of BVResources (IACVS Observer Member) for a number of years. Mr. David Foster, CEO of BVR Resources, presented at the WCM about these resources. David indicates that data for completed M&A transactions is a priority for collection at BVR so that such transaction data can be available in many parts of the globe.  BVR will announce an initiative with IACVS for the collection of this data using the Charters and Chapters as collection points. The initiate will include a monetary subsidy from BVR for the data collection.  BVR has an agreement with IACVS to allow IACVS translate some of its BV files to local languages for local users.

Elvin Fernandez, the president of BVAM, introduced the development of the IACVS Malaysia charter. They have cut the 5 days training course to 3 days to make it more available for participants to join the class. This requires advanced study prior to the ICVS training, as well as online access to instructors to review questions and resolve valuation theory matters. BVAM will also host the Intangible Assets Conference on October 15 in Kuala Lumpur.

George Badescu, founder of ANEVAR, is the IACVS ambassador in Romania.  For his over 60 years’ contribution to the valuation industry, he was given the Honorary Membership by IACVS.  George shared his life time work in valuation career and he wants to help create uniform valuation standards in Southeast European countries. He told everyone “Knowledge is not private property, we have to share.”  IACVS and ANEVAR will sign a mutual cooperation Memorandum of Understanding (MOU) be the end of 2019.

Jennifer Chen, long-time IACVS member and ambassador to the valuation profession in Taipei, shared the development of IACVS in Taipei for the recent 3 years and the work she has done to promote the ICVS credential to local valuers.  Jennifer has played a key role for IACVS to reconnect IACVS and the Chinese Asset, Business and Intangible Asset Valuation association. The CABIAV was established more than 16 years previous as China and Asia began to realize the importance of business valuation for the development of business.

Wilson Lim and Don Prosard, IACVS Singapore Chapter representatives, shared the valuation in Singapore and the questions they meet when doing valuation projects. Their goal is to push valuation profession to be a higher value to the business community in both Singapore and Cambodia.

Su Zheng Yu and Zhang Chi, manager of Beijing Xinliu Huigu Technology Co., Ltd, (IACVS Observer Member) introduced their company has developed a patent – protected online valuation system Manjusri Valuation Expert System, which can automatically generate valuation reports for SMEs (non-listed companies) when they searching for financing. Currently, 70% of the 34 Equity Exchange Centers (OTCs) in China use the system to provide valuation and value-added services for their listing and display companies. At the same time, Flow Group is committed to a comprehensive upgrade of the English system, seeking international cooperation through IACVS.

Mr. Zhu Jun, representative from Beijing Zhonghe Appraisal Co., Ltd, showed their valuation information service system, Computer Aided Valuation system (CAVS) (M&E) and Financial Professionals Resources (FPR) to all participants. Mr. Zhu Jun is a long-time members of IACVS and frequently represents the interests of China and IACVS at various forums.

Even though we left limited time to Ms. Chen Qian and Mr. Jiang Dongyong, representative from BeiFang Yashi Appraisal Co., Ltd (IACVS Observer Member), they showed us a great work on valuation projects they have done. According to their experience, it’s very important to cooperate with the local valuers from overseas when doing major cross-border projects. It’s also important to have a good teamwork and clear arrangement when doing big valuation project within required time. All attendees had a warmly discussion and asked many questions on these case project.

We really have no time and feel sorry for not playing the video from IACVS Africa chapter, while we decide to share it to all attendees by e-mail.

The International Valuation Standards Council (IVSC) is the global non-for –profit body responsible for setting the International Valuation Standards (IVS). The goal of IVSC is to build trust in valuation by establishing one set of globally consistent, high-quality valuation standards and by supporting the advancement of the valuation profession. In achieving this, the IVSC aims to support economic activity, strengthen financial markets and protect the public interest.

Mr. William Hanlin (CEO & President, IACVS) and Mr. Bob Brackett (Secretary General, IACVS) attended the 2019 IVSC AGM hosted at the Rendezvous Hotel in Singapore on Oct. 7-9. Almost 300 participants from United States, Canada, France, Russia, Japan, China, Malaysia, Romania, Korea, Singapore etc. joined this meeting. They want create the valuation standards for their own country through IVSC platform. They had a warm discussion on international valuation standards and valuation profession goals for 2020.

During the three-day annual conference, all of IVSC members from the technical committees, IVSC council had a hot discussion on tangible assets, business valuations and financial instruments etc. The IVSC Advisory Forum convened representatives from all member organizations to focus on issues including the widespread use of IVS worldwide, the strengthening of the professionalization of corporate value assessments, and the role of technology in future assessments. Besides, Sir David Tweedie announced he would retire from the president of the board after seven years and two months profession work. During the period, David has been committed to advancing the development of IVSC and enhancing the professionalism of global valuation. His input and dedication to norm-setting has enabled international standards to be translated into ten languages and applied in 139 countries.

Followed the IVSC AGM, IACVS hosted its 2019 World Council Meeting at the same hotel in the afternoon of Oct. 9. More than 20 participants from IACVS charter/chapter representatives and invited guests joined the meeting. 

The International Valuation Standards Council (IVSC) is the global non-for –profit body responsible for setting the International Valuation Standards (IVS). The goal of IVSC is to build trust in valuation by establishing one set of globally consistent, high-quality valuation standards and by supporting the advancement of the valuation profession. In achieving this, the IVSC aims to support economic activity, strengthen financial markets and protect the public interest.

Mr. William Hanlin (CEO & President, IACVS) and Mr. Bob Brackett (Secretary General, IACVS) attended the 2019 IVSC AGM hosted at the Rendezvous Hotel in Singapore on Oct. 7-9. Almost 300 participants from United States, Canada, France, Russia, Japan, China, Malaysia, Romania, Korea, Singapore etc. joined this meeting. They want create the valuation standards for their own country through IVSC platform. They had a warm discussion on international valuation standards and valuation profession goals for 2020.

In the field of business valuation, IVSC and IACVS actively promote the normative application of valuation principles, methods and models. In additional to national laws and regulations, IACVS required every corporate member to comply with professional valuation standards issued by IVSC, IASB and FASB.

Followed the IVSC AGM, IACVS hosted its 2019 World Council Meeting at the same hotel in the afternoon of Oct. 9. More than 20 participants from IACVS charter/chapter representatives and invited guests joined the meeting. 

The International Association of Certified Valuation Specialists, in conjunction with the Center for International Business Valuation, has added an advanced level to the ICVS credential; valuators can now earn the ICVS with Advanced Studies in Financial Instruments (ICVS-A). The curriculum for the ICVS-A, which focuses on fair value concepts, was developed by Dr. Joel M. DiCicco, CPA, ICVS, a full-time member of the Executive Business and Department of Accounting faculty at Florida Atlantic University’s College of Business. This advanced credential in the fair value of financial instruments can be earned along with the initial ICVS or can be added to enhance a current ICVS credential.  Upon completion of the training program, students can participate in a credentialing exam comprised of a case study and valuation problems concerning derivative products. The ICVS-A designation requires an understanding of valuation techniques for various financial instruments, ranging from basic securities to complex derivative constructs. In addition to the valuation of financial instruments, the training and optional exam covers fair value accounting under both US GAAP and IFRS, along with the use of Python programming language (the language of choice for valuing financial derivatives).

Critical learning objectives of this ICVS-A training program include:

* Applying accounting standards for fair value and understanding the history behind the fair value movement

* Ascertaining the purposes behind the issuance and development of many complex derivatives

* Utilizing valuation techniques for financial products

* Programming using the fundamentals of Python

The inaugural live training, presented with the Southeast Chapter of Business Appraisers, will be held in Orlando, Florida, USA, on December 16, 17, and 18. Business Valuators with a credential such as the ICVS, ASA, ABV, CICBV, or CVA are welcome to attend. These materials are advanced in format and require students to have a thorough understanding of business valuation in order to keep up with the instructors.

Note that the ICVS-A exam is separate from the training. Students must register separately for the exam and additional study is recommended prior to taking the test.  A passing score is required to earn the ICVS-A designation.

Registration Link https://www.mdgu.us/course/ICVS-A

The center's website about the training http://www.cfibv.org/icvs-a

Course Flyer 

Contact Heidi (heidi@diciccofamily.net) or  http://www.cfibv.org/ for more specific information about the training, or Joel (joel@diciccofamily.net) for more specific information on the curriculum and credential.

Mr. Bob Brackett, the secretary-general of IACVS, attended and presented a paper (Acceleration in the Development of the Valuation Profession) at the recent ICVPME 11th International Conference hosted at the CORDIS Hotel in Auckland, New Zealand on 9th - 11th September 2019. Participants from China, USA, UK, France, Australia, New Zealand, Russia, Romanian, Japan, Malaysia, Saudi Arabia and Nigeria participated this influential international conference.

The conference topics addressed many of the most important and challenging professional issues facing valuators today. From changes in valuation regulation and standards to EVM’s, valuation education, the aging of practitioners through valuation in a truly international venue. The attendees had a unique opportunity to discuss these issues with instructors using current examples from their own practices. The agenda included presentations with question and answer sessions as well as professional roundtable discussions.

Mr. Bob Brackett was the first speaker at the conference. Many of his points were echoed by the following presenters who used examples from their own recent experience to reinforce the importance and timeliness of the issues. The 2 speakers from the CBV Institute provided an excellent summary of Crypto assets, clarifying the various abbreviations and terminologies for attendees. Much of the conference discussed the use of valuations in a financial reporting arena, a relatively new area for the property, plant and equipment valuation specialists in attendance.

During the conference, Mr. Bob Brackett also spoke with many of the other experts concerning business valuations and introduced the development of IACVS and the ICVS credential to them.