Forensic & Valuation Services Virtual Conference Powered by VSCPA

Join us online for the Forensic & Valuation Services Conference powered by the Virginia Society of CPAs!

This is your opportunity to gain the latest resources, tools and information about forensic accounting and business valuation services. Over the course of a day and a half, you'll have the opportunity to engage with national and local speakers, participate in interactive sessions, and connect with colleagues in this niche topic area.

Agenda:
Thursday, September 19

1. Dealing With Real Estate in Valuation of Operating Entities & Real Estate Holding Companies | September 19, 2024 from 11:45 am - 12:35 pm | Lisa Cribben | Chris Volz

There are special nuances to dealing with real estate in the valuation of either an operating company or a real estate holding company. In an operating company, there are multiple ways to treat real estate including treating it as an operating asset or treating it as a non-operating asset. How you treat the real estate could have an impact on the overall value you derive for the business. In addition, when valuing an entity that owns and rents real estate, the process is different from how you would treat real estate in an operating entity.

This session will identify the different considerations in how real estate is treated in an operating entity and a real estate holding company and some considerations on how deferred tax can be treated when the fair market value is different from the tax basis.

Learning objectives:

Identify the different options for treatment of real estate in operating entities and holding companies.

Compare the treatment of real estate in the different approaches (income, cost and market).

Compare the differences in value if real estate is treated as an operating asset versus nonoperating asset.

Analyze the tax implications when assessing the fair market value of real estate (deferred tax upon sale, etc.).

Credit: A&A — 1

2. Estate Planning & Valuations: Reviewing the Past Year & Looking Ahead | September 19, 2024 from 9:35 am - 10:25 am | Ben Candland | Steven Bonniwell, J.D.

Discuss recent cases involving valuations and estate planning. Also, receive a preview of the landscape of estate tax laws as we head towards the 2024 elections.

Credit: A&A — 1

3. A Comprehensive Guide to Estate, Gift & Charitable Contribution Court Cases | September 19, 2024 from 10:40 am - 11:30 am | James Alerding | Carli Lehr

Discuss a comprehensive list of tax, U.S. district and appellate court cases related to estate, gift and charitable contributions — past and present — and their impact on various topics related to business valuation. The analysis of these court cases will provide insight into the history of the courts’ positions on various business valuation-related issues, developments in those positions over time, and the impact of current case law as they relate to estate, gift and charitable contribution cases.

Learning objectives:

Learn how the courts have handled various issues related to business valuation for the purposes of estate, gift and charitable contributions.

Understand key takeaways from the most influential court decisions relating to gift, estate and charitable contribution valuation issues.

Learn how to apply these court decisions in their business valuations for estate, gift and charitable contribution purposes.

Credit: A&A - 1

4. Preparing Tomorrow’s Workforce Panel | Rumbi Petrozzello, Brenda Wamala, ABV, CFE | Kirstine Fors, CPA, ABV, CVA

Credit: Other-1.5

5. All in the Family — Related-Party Companies in Divorce | September 19, 2024 from 2:35 pm - 3:50 pm | Karolina Calhoun | Kevin Segler

Explore all things related party in divorce valuation, including entity structure issues, multilayering with discounts, and tracing marital versus separate asset ownership with complex multi-entity ownerships. We will also discuss related parties in the business and said impact on ownership, valuation and division — including the consideration of classes of stock in division, such as GP versus LP or voting versus nonvoting.

Learning objectives:

Learn about the complexities of related-party issues in a marital dissolution.

Review examples of multi-layered entity ownership and potential issues.

Discuss the impacts from these situations on property division and other considerations.

Credit: A&A — 1.5

6. Navigating Industry Valuation Issues: Value Drivers, Rules of Thumb & Special Considerations | September 19, 2024 from 4:00 pm - 4:50 pm | Brian Burns | Nathan Duke

Certain industries require nuanced approaches and importance considerations that impact value. From blue sky in an auto dealership, to multiple of book value in a bank, to revenue multiple in a dental practice or calculation of workforce in place for a physician practice, there are special considerations that appraisers should evaluate when preparing a valuation. 

Learning objectives: 

Identify the reasons certain industries utilize different or modified valuation approaches.

Identify the industries that utilize a nuanced valuation approaches and/or rules of thumb.

Analyze the different valuation approaches utilized for specific industries such as financial institutions, auto dealerships, health care and early-stage enterprises. 

Credit: A&A — 1

7. VSCPA Update | Stephanie Peters, CAE 

Credit: Other-1

Friday, September 20

8. Economic Update | September 19, 2024 from 8:30 am - 9:25 am | Jeffrey Lewis   

It feels as if no country, economy or industry around the globe has seemingly been spared in some way from the impacts stemming from: price inflation fluctuations; energy or environmental shocks; a rising and uncertain interest rate environment; pre-and-post-pandemic-era labor market changes; the perils and prospects for AI and the advancements in other technologies; record levels of human migration; or the continuing war in Ukraine. While at the same time, these impacts have impelled governmental, business, financial and personal innovation and resilience ... and fostered opportunities. Let’s explore these developments and discover what may lie ahead!

Credit: Other — 1

9. The Digital Underworld: AI-Generated Fraud Schemes | September 20, 2024 from 8:30 am - 9:35 am | Rajesh Melappalayam

As organizations embrace digital transformation, the threat landscape expands to include sophisticated AI-driven fraud schemes. Among these, synthetic identities, audio and video deepfakes standout — where perpetrators create fictitious identities by blending real and fabricated information, create deepfake audio and video which can be used for fake identities, account take over (ATO) fraud, transaction authorizations, etc. We will look at the fraud landscape pre- and post-GenAI.

Credit: Other — 1

10. Five Practical Use Cases of Generative AI & Machine Learning in Fraud Prevention & Detection | September 20, 2024 from 9:40 am - 10:30 am | Vincent Walden

Everyone talks about AI and how it can change how we work, but few can demonstrate its effectiveness or practical application. Technology is useless if it does not help to solve a problem, reduce risk or increase efficiency. In this session, Vincent Walden, CEO of KonaAI, a leading AI-driven anti-fraud prevention and detection software company, will present five practical use cases of how leading companies utilize generative AI and machine learning across their vendor, customer and employee transactional data to increase business transparency and enhance their fraud risk management program in line with regulatory expectations and their own company policies.

Credit: Other — 1

11. Commercial Damages: Quantifying Economic Loss — Rasmus Jorgensen, PhD, MSc, BSc

Credit: Other — 1

12. Singing for Your Supper: A New Expert’s Roadmap to Effective Testimony | September 20, 2024 from 11:50 am - 12:45 pm | Martin Cunniff

This session is designed exclusively for novice expert witnesses poised to navigate the complexities of the legal arena. Get equipped with the essential skills, knowledge and poise required to deliver compelling, clear and credible testimony at trial. 

Key highlights:

Understanding your role: Dive deep into the pivotal role of expert witnesses, distinguishing between fact and expert witnesses, and exploring the ethical responsibilities that come with your testimony.

Preparation is key: Learn how to thoroughly prepare your testimony, understand the case materials, and collaborate effectively with legal teams. Get tips on anticipating cross-examination questions and reinforcing your expertise.

Communicating your expertise: Master the art of conveying complex information in an understandable, concise and effective manner. Enhance your ability to connect with the jury and judge while maintaining the objectivity and credibility essential for expert testimony.

Navigating cross-examination: Equip yourself with strategies to maintain composure and credibility during cross-examination. Learn techniques to handle challenging questions and tactics employed by opposing counsel without compromising your professional integrity.

Mock trials and role-playing: Engage in interactive mock trials and role-playing exercises designed to simulate real-life courtroom scenarios. Gain confidence through practice and receive constructive feedback to refine your testimony skills.

Legal etiquette and courtroom dynamics: Familiarize yourself with the courtroom environment, understanding the dynamics, procedures, and the importance of non-verbal cues in enhancing your testimony's impact.

Post-testimony analysis: Reflect on the importance of post-testimony review, learning how to analyze your performance and identify areas for improvement in future testimonies. 

By the end of this session, you will have a solid foundation in the best practices for expert testimony, empowering you to testify with confidence, clarity and credibility. Whether stepping into the courtroom for the first time or seeking to refine your existing skills, this session is your essential guide to excelling as an expert witness in the legal landscape. Join us to transform your expertise into compelling, impaction testimony.

Credit: Other — 1