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Using AI in Your Valuation Practice – Part 1

Forensic and Valuation Services (FVS)

Release Date: 08/15/2024

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Forensic and Valuation Services (FVS)

The authors of the Eye on Fraud article on the same topic, Howard Silverstone and Sean Sauder, explore historical and modern examples of music fraud, including "payola," artist fraud, and streaming fraud, and discuss industry measures to combat these issues, including: Streaming fraud: bots, click farms, and playlisting scams Impact of fraud on artists and the industry, such as royalty fraud and illegal downloading The role of forensic accountants and the use of specific software and global task forces to fight streaming fraud Guests:  Howard Silverstone, CPA/CFF, Executive Vice...

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Pod Squad host Nene Gianfala discusses how to support company specific risk and reconciliation with our experts fresh out of their session at the FVS conference.  Their conversation covers complex topics including: Understanding projected financial information (PFI) Quantifying company specific risk premium Reconciling WACC, WARA and IRR Complying with disclosure requirements and Learning the story behind the numbers. Guests:  Charles Gallman, CPS/ABV, Managing Director, Advisory Services, Grant Thornton Ross McSwain, ABV, Sr. Manager, Advisory Services, Grant Thornton Host: ...

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Join us for the AICPA & CIMA Forensic & Valuation Services Conference from October 28-30 in Dallas, featuring special ticketed networking events. You can attend in person or virtually but attending in Dallas provides unmatched networking with FVS professionals. Register by September 13 to get a $150 early bird discount.  Here's what's in store:  Keynote speech by Rebecca Ryan, a futurist and economic expert Litigation Talk Series on courtroom perspectives and Daubert challenges AI sessions on practical applications and best practices for valuation and forensic work Micro...

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Using AI in Your Valuation Practice – Part 1 show art Using AI in Your Valuation Practice – Part 1

Forensic and Valuation Services (FVS)

This podcast episode is part of the extensive resource library available from the AICPA’s Forensic and Valuation Services Section, the premier provider of guidance, tools, and advocacy for professionals who specialize in providing forensics and business valuation services.   and if you’re not already a member, consider joining this active community of your FVS peers. You will get 16 credits of complimentary CPE and access to rich technical content. Rod and Josh discuss the impact of artificial intelligence (AI), on business and life:  the talent crunch in the business valuation...

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Forensic and Valuation Services (FVS)

FVS experts must keep abreast of AI’s influence on fraud and forensic accounting, utilizing it prudently and mindful of its constraints and misuse risks.  Following the publication of the 2nd quarter Eye on Fraud report, we converse with the authors to learn about the four categories of AI and spotlight both the dangers and advantages of each type: Reactive machines Limited memory Theory of mind Self-awareness Guests:  Clay Kniepmann, JD, CPA/CFF/ABV, Anders CPA and Advisors David Zweighaft CPA/CFF, CFE DSZ Forensic Accounting & Consulting Services Host: Frank Previti,...

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For our final bankruptcy episode, we are in conversation with Clint Neider from AlixPartners. Clint shares his passion for the critical role valuation plays in bankruptcy restructuring.  Restructuring requires a combination of science and art, as well as the ability to play the role of a finance professional and a therapist.  Clint shares: What skills make a successful restructuring practitioner How valuations impact the negotiation process Learning to educate, counsel, and provide guidance to the Court Guest: Clint Neider, CPA/ABV, AlixPartners, Restructuring Group Host: Josh...

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Elizabeth Woodward converses with Denise Harding, a speaker at the 2023 AICPA-CIMA Forensic and Valuation Services Conference.  Denise provides insight into the Dark Web, addressing typical misunderstandings, as well as offering advice to help professionals: Capitalize on their forensic accounting expertise in cryptocurrency-related endeavors,  Illustrate the tools frequently used in these types of assignments, and Establish best practices for efficient engagement management.  Guest: Denise Harding, CPA/CFF, CFE, Forensic Accountant, Navel Criminal Investigative Service (NCIS)...

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While it has been thousands of years since the Greek mathematician, Thales, developed the first known option contracts to corner the market for olive presses ahead of the annual harvest, financial instruments continue to proliferate in both type and complexity.   Faisal Lakhani of CBIZ Valuation Group specializes in advising clients in this area and shares his expertise to provide an overview to help us better understand what these instruments are, and how they are valued, including: Categories and classification of complex financial instruments Valuation approaches and methods Influence...

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Dave and Greg's conversation underscores a universal truth in any career path:  mentoring is critical for the nurturing of emerging professionals - new hires, and those in career transition, during their first 5 years as a valuation professional.  It plays a crucial role in career development and organizational culture, as well as allows the mentor to: Share the enthusiasm for the work they do, and the desire to keep learning Make sure students and younger professionals know that BV is a career path if Accounting, Auditing, or Tax is not their jam   Make sure emerging...

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More Episodes

This podcast episode is part of the extensive resource library available from the AICPA’s Forensic and Valuation Services Section, the premier provider of guidance, tools, and advocacy for professionals who specialize in providing forensics and business valuation services.  Visit us online, and if you’re not already a member, consider joining this active community of your FVS peers. You will get 16 credits of complimentary CPE and access to rich technical content.

Rod and Josh discuss the impact of artificial intelligence (AI), on business and life:  the talent crunch in the business valuation profession and the high salaries offered by large firms make it difficult for smaller firms to hire junior analysts.

Imagine growing your business without being able to hire additional staff - could AI be a solution to this constraint?  

Key takeaways:

  • The importance of familiarizing oneself with AI and its potential applications in business valuation
  • How AI can be used to do a lot of tasks that you would hire a junior analyst to do.
  • Make time to learn the tool.  See the show notes for a list of great resources
  • Practical examples of how to use AI to assist with writing and due diligence prep

Guest:  Rod Burkert, CPA/ABV, Burkert Valuation Advisors
Host: Josh Shilts, CPA/ABV/CFF/CGMA, Shilts CPA

Please share your thoughts about the episode - click here to leave us a review  

Want to get involved with future FVS conferences, committees, task forces, or the standing ovation program? Send a message to [email protected]

RESOURCES FOR FURTHER EXPLORATION
If you’re using a podcast app that does not hyperlink to the resources, please visit 
https://fvssection.libsyn.com/fvs to access the show notes with direct links. 

Rod will be a presenter at the 2024 AICPA-CIMA Forensic and Valuation Services Conference, October 28-30 in Dallas, TX.  CLICK HERE to register 

  • Early bird discounts are available through Sept 13.  
  • FVS Section, ABV, CFF, and CVFI save an additional $550. 

Exclusive content included in FVS Section membership:  If you’re not a member, consider joining this active community of your FVS peers. Visit us online, You will get 16 credits of complimentary CPE and access to rich technical content
The state of AI and machine learning in financial instrument valuation | FVS webcast archive

LEARN MORE ABOUT THE FOLLOWING AICPA CREDENTIALS:

Accredited in Business Valuation (ABV®)Visit the home page and check out the ABV infographic

Certified in the Valuation of Financial Instruments (CVFI®)Visit the home page and check out the CVFI infographic

Certified in Financial Forensics (CFF®) - Visit the home page and check out the CFF infographic

This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments are welcomed at [email protected]