Ray Rath of Globalview Advisors presented on “Technical Best Practices for Completing Business Valuations” at the American Society of Appraisers (ASA) 2016 International Appraisal Conference (IAC) held in Boca Raton, Florida. Competition between appraisers to obtain valuation projects and the lower valued added nature of many financial reporting valuations can lead to significant fee competition to obtain valuation assignments. Price competition and low project fees can increase the risk that appraisers may not perform adequate valuation due diligence in completing projects. Existing valuation standards (USPAP and the IVS) provide high level standards on the procedures required to complete an appraisal. To help appraisers perform and report projects with an adequate degree of effort, a Mandatory Performance Framework document is being developed to provide guidance for certain financial reporting valuations. Ray presented an overview of the Mandatory Performance Framework documents and requirements for performing certain valuations.
In keeping the tradition of providing the highest-level of education for appraisal experts, this year’s IAC featured more than 40 sessions of the most comprehensive educational programming available taught by preeminent thought-leaders from all appraisal disciplines.
The ASA is the oldest multidisciplinary appraisal nonprofit organization founded in 1936 and established in 1952 in the United States. ASA has become an effective professional affiliation of appraisers of all disciplines, working cooperatively to elevate the standards of the appraisal profession. ASA provides its members the most solid grounding in the appraisal principles that underlie all classes of property: real, personal, tangible and intangible. ASA is a global coverage organization active in Northern America (USA, Canada, Mexico), Europe, China, Japan and Australia.