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Business Valuation Is Not A Side Job
With valuation services, the old adage — “you get what you pay for…” — is all too true. And just like you wouldn’t recommend your family doctor for bypass surgery, it is highly recommended that you advise your client to engage an ASA-credentialed valuation expert. ASAs have extensive experience valuing companies and equity interests. To be awarded the ASA designation, an appraiser needs: at least 10,000 hours of full-time business valuation experience, 108 hours of rigorous course instruction, to have passed four half-day exams and to have a written appraisal report successfully peer-reviewed by a board of examiners.
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| Although there are other professionals who provide business valuation services, their valuation knowledge and experience may be very limited. They may also be certified by one or more of the recognized professional valuation associations. However, these individuals may perform only a handful of valuation engagements a year, which may not be sufficient to satisfy the experience test. The valuation profession has changed dramatically in recent years. Keeping abreast of current valuation theory, trends, financial reporting standards and relevant case law is a full-time job. In other words, business valuation is not a side-job! |
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