Forensic and Valuation Services (FVS)

Welcome to the FVS podcast, a 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, valuation, litigation, and fraud services. Visit us online at www.aicpa.org/fvs, and if you’re not already a member, consider joining this active community of your FVS peers. Follow us wherever you get your podcasts to receive access to valuable insights and updates on professional issues from nationally recognized forensic and valuation experts.

Crypto Assets and Crypto Currencies Part 1 05/25/2023

Crypto Assets and Crypto Currencies Part 1 Host: Nene Gianfala, CPA/ABV, CEIV, ASA-BV/IA, Chaffe & Associates, Inc. Guests Antonella Puca, CPA/ABV, CFA, Partner – BlueVal Jay Baris, JD, SIDLEY AUSTIN LLP David Konop, MBA, ABV, Principal, KPMG, LLP Cryptocurrencies are often volatile, typically trade around the clock, contain different rights and privileges, and therefore present special challenges in valuation. Additionally, the number of entities in the digital currency ecosystem has grown significantly and has been accompanied by the development of new capital tools such as Simple Agreements for Future Tokens (SAFT) and accompanying financial instruments. In Part 1 of this topic, we join experts Jay Baris and Antonella Puca, to discuss the Recent regulatory and enforcement trends If you’re using a podcast app that does not hyperlink to the resources, please visit to access the show notes with direct links. Event: AICPA® & CIMA® Portfolio Valuation Forum on June 28, 4:30–6:15 pm ET Attend either in person at KPMG in New York City or virtually via live broadcast. Industry experts will discuss current issues and trends relating to the complexities of portfolio valuations Participants will be able to ask questions throughout the event and receive up to two CPE credits at NO COST! Webcast: Investigations in the Crypto Currency World on July 18, 1:00 - 2:30 pm ET Investigations involving blockchains and digital assets serve a variety of purposes. Attend this webcast for an overview of the applications, associated risks, and techniques used during an investigation. Participants will see examples of its practical applications and gain an understanding of the basic mechanics of blockchain analytics. Webcast playback - AICPA-CIMA.com web store - to see sources for webcasts. self-study courses, guidance, practice aids, and news releases such as: Blockchain Opportunities Beyond Crypto Assets Investigations in the Crypto Currency World Understanding, Using, and Securing Crypto and Digital Assets This podcast episode is part of the extensive resource library available from the , the premier provider of guidance, tools, and advocacy for professionals who specialize in providing forensics, valuation, litigation, and fraud services. Visit us online at , and if you’re not already a member, consider joining this active community of your FVS peers. You’ll get free CPE and access to rich technical content. Please share your thoughts....leave us a review using this or copy and paste this URL into your browser https://forms.office.com/r/4cjNd6m1TJ so we can continue bringing valuable and relevant content to you. Any other issues can be sent to Information on credentials - Our FVS credential programs allow AICPA members to demonstrate competence and confidence in providing forensic and valuation services to their clients. (Accredited in Business Valuation) (Certified in Fraud and Forensics) /episode/index/show/fvssection/id/26942031

Recruiting Challenges in BV: The Perfect Storm 05/11/2023

Recruiting Challenges in BV: The Perfect Storm Host: Nene Gianfala, CPA/ABV/CEIV, ASA-BV/IA, Chaffe & Associates, Inc. Guest: John Borrowman, CPC, President, Borrowman Baker LLC Join Nene and recruiter, John Borrowman, as they chat about the unique challenges for recruiting in the business valuation industry including the: · Perfect Storm in the industry – what does it mean? · Outmigration – the Silver Tsunami · Curious labor trends post pandemic · Ideas for mitigating the labor shortage For Further exploration on this topic: If you’re using a podcast app that does not hyperlink to the resources, please visit to access the show notes with direct links. Want to help spread the word about BV and Forensics as an alternate path to traditional accounting/auditing/tax? If you are interested in becoming a mentor (or finding a mentor), becoming a volunteer on a task force, and/or joining FVS awareness efforts to students/young professionals, please contact the . Articles and training · · · · · This podcast episode is part of the extensive resource library available from the , the premier provider of guidance, tools, and advocacy for professionals who specialize in providing forensics, valuation, litigation, and fraud services. Visit us online at , and if you’re not already a member, consider joining this active community of your FVS peers. You’ll get free CPE, and access to rich technical content. Don’t miss an episode – Follow us wherever you get your podcasts and leave us a review using this or copy and paste this URL into your browser https://forms.office.com/r/4cjNd6m1TJ so we can continue bringing valuable and relevant content to you. Any other issues can be sent to Information on credentials Our FVS credential programs allow AICPA members to demonstrate competence and confidence in providing forensic and valuation services to their clients. · (Accredited in Business Valuation) · (Certified in Fraud and Forensics) /episode/index/show/fvssection/id/26813235

ESG & the Cost of Capital 04/27/2023

ESG & the Cost of Capital Host: Nene Gianfala, CPA/ABV, CEIV, ASA-BV/IA, Chaffe & Associates, Inc. Guest: Randy Priem, Belgian Financial Services and Markets Authority (FSMA), Finance Professor @ University of Antwerp + UBI Business School Randy Priem is an expert on market infrastructures and financial benchmarks at the Belgian Financial Services and Markets Authority (FSMA). In his white paper (link below) he analyzes the impact of a company’s ESG score on its cost of capital, including if a high ESG score serves as a substitute for a weaker legal environment. During our interview, we do a deep dive into · The inspiration for the article · Key factors analyzed and data inputs · How can appraisers incorporate into business valuation? · ESG: fad or common sense? · Beware of greenwashing For Further exploration on this topic: If you’re using a podcast app that does not hyperlink to the resources, please visit to access the show notes with direct links. If you are interested in learning more about ESG, check out these AICPA resources: (CPE self-study, 9 credits) FVS podcast episode #53, ESG - Additional articles on the AICPA website include: Resources available as part of FVS Section membership Randy’s , “The Impact of a Firm’s ESG Score on Its Cost of Capital: Can a High ESG Score Serve as a Substitute for a Weaker Legal Environment” December 2022 United Nations - https://unglobalcompact.org/take-action/action/private-sustainability-finance European Commission – https://finance.ec.europa.eu/sustainable-finance_en EMSA - https://finance.ec.europa.eu/sustainable-finance_en IOSCO (International Organization of Securities Commissions) (the global organization of securities regulators) https://www.iosco.org/news/pdf/IOSCONEWS635.pdf Financial Stability Board (FSB). https://www.fsb.org/2021/11/environmental-social-and-governance-esg-ratings-and-data-products-providers/ Bank of international settlements https://www.bis.org/publ/qtrpdf/r_qt2112f.htm This podcast episode is part of the extensive resource library available from the , the premier provider of guidance, tools, and advocacy for professionals who specialize in providing forensics, valuation, litigation, and fraud services. Visit us online at , and if you’re not already a member, consider joining this active community of your FVS peers. You’ll get free CPE, and access to rich technical content. Don’t miss an episode – Follow us wherever you get your podcasts and leave us a review using this or copy and paste this URL into your browser https://forms.office.com/r/4cjNd6m1TJ so we can continue bringing valuable and relevant content to you. Any other issues can be sent to Information on credentials Our FVS credential programs allow AICPA members to demonstrate competence and confidence in providing forensic and valuation services to their clients. · (Accredited in Business Valuation) · (Certified in Fraud and Forensics) /episode/index/show/fvssection/id/26676345

Turning Risk into Value - Gathering and Applying Information for Better Data Visuals 04/13/2023

Women in FVS, A Multigenerational Perspective - Part 2 03/29/2023

Women in FVS, A Multigenerational Perspective - Part 2 Host: Nene Gianfala, CPA/ABV, CEIV, ASA-BV/IA, Chaffe & Associates, Inc. Guests: Jenny Allen, CPA/ABV/CFF, Partner at Anthem Forensics Bethany Hearn, CPA/ABV/CFF, Leader of Valuation, Forensic, Litigation, and Investigative Services at CliftonLarsonAllen LLP Carla Nunes, ABV, Managing Director and Global Leader of Valuation Digital Solutions, Kroll Brenda Wamala, ABV, Senior Consultant, Global Forensics and Litigation Services, Baker Tilly US It was so good we needed a part 2! This episode is a continuation of the engaging conversation we had in March for Women’s History Month! Please join us again while we discuss: · Work-life balance is achievable! · Don’t be afraid to ask for what you need · How anyone can be an ally to women in BV For Further exploration on this topic: If you’re using a podcast app that does not hyperlink to the resources, please visit to access the show notes with direct links. Resources available for purchase and discounted with your AICPA-CIMA FVS Section membership · · Relevant articles on the AICPA website include: MENTORSHIPS – if you are interested in finding a mentor or becoming a mentor, please contact The AICPA-CIMA FVS member sector at . This podcast episode is part of the extensive resource library available from the , the premier provider of guidance, tools, and advocacy for professionals who specialize in providing forensics, valuation, litigation, and fraud services. Visit us online at , and if you’re not already a member, consider joining this active community of your FVS peers. You’ll get free CPE, and access to rich technical content. Don’t miss an episode – Follow us wherever you get your podcasts and leave us a review using this or copy and paste this URL into your browser https://forms.office.com/r/4cjNd6m1TJ so we can continue bringing valuable and relevant content to you. Any other issues can be sent to Information on credentials Our FVS credential programs allow AICPA members to demonstrate competence and confidence in providing forensic and valuation services to their clients. · (Accredited in Business Valuation) · (Certified in Fraud and Forensics) /episode/index/show/fvssection/id/26381091

Women in FVS, A Multigenerational Perspective - Part 1 03/16/2023

Women in FVS, A Multigenerational Perspective - Part 1 Host: Nene Gianfala, CPA/ABV, CEIV, ASA-BV/IA, Chaffe & Associates, Inc. Guests: Jenny Allen, CPA/ABV/CFF, Partner at Anthem Forensics Bethany Hearn, CPA/ABV/CFF, Leader of Valuation, Forensic, Litigation, and Investigative Services at CliftonLarsonAllen LLP Carla Nunes, ABV, Managing Director and Global Leader of Valuation Digital Solutions, Kroll Brenda Wamala, ABV, Senior Consultant, Global Forensics and Litigation Services, Baker Tilly US In honor of Women’s History Month, the FVS podcast turns the mic over to our four guests that have experienced the FVS profession for 4 years to 4 decades. Please join us for this thoughtful discussion about: · Women in the business valuation industry · Mentors inside and outside the workplace · Expectations from others and for yourself · Advice for the next generation of appraisers For Further exploration on this topic: If you’re using a podcast app that does not hyperlink to the resources, please visit to access the show notes with direct links. Resources available for purchase and discounted with your AICPA-CIMA FVS Section membership · · Relevant articles on the AICPA website include: MENTORSHIPS – if you are interested in finding a mentor or becoming a mentor, please contact The AICPA-CIMA FVS member sector at . This podcast episode is part of the extensive resource library available from the , the premier provider of guidance, tools, and advocacy for professionals who specialize in providing forensics, valuation, litigation, and fraud services. Visit us online at , and if you’re not already a member, consider joining this active community of your FVS peers. You’ll get free CPE, and access to rich technical content. Don’t miss an episode – Follow us wherever you get your podcasts and leave us a review using this or copy and paste this URL into your browser https://forms.office.com/r/4cjNd6m1TJ so we can continue bringing valuable and relevant content to you. Any other issues can be sent to Information on credentials Our FVS credential programs allow AICPA members to demonstrate competence and confidence in providing forensic and valuation services to their clients. · (Accredited in Business Valuation) · (Certified in Fraud and Forensics) /episode/index/show/fvssection/id/26252991

Valuation Court is now in Session: New and Historical Cases Impacting Valuations Today 03/02/2023

Valuation Court is now in Session: New and Historical Cases Impacting Valuations Today Host: Saumya Tayi, CPA/ABV, Director, Alix Partners, LLP Guest(s): Natalya Abdrasilova, CPA/ABV, MAFF, CVA, Director of Valuation & Litigation Services, BDM, PC David Consigli, CPA/ABV, CDFA, Partner and Lead, FAZ CPAs Business Valuation Practice In litigation, the decisions in court cases create precedence for future court cases. Keeping up to date on current court decisions and the background can help you prepare your valuation for court and support it in testimony. Join Saumya, one of our newer hosts, as she speaks with Natalya Abdrasilova, and David Consigli and they delve into and discuss the valuation implications and technical valuation components of the cases. For Further exploration on this topic: If you’re using a podcast app that does not hyperlink to the resources, please visit to access the show notes with direct links. available for purchase from AICPAconferences.com AICPA-CIMA Forensic and Valuation Services Conference, session This podcast episode is part of the extensive resource library available from the , the premier provider of guidance, tools, and advocacy for professionals who specialize in providing forensics, valuation, litigation, and fraud services. Visit us online at , and if you’re not already a member, consider joining this active community of your FVS peers. You’ll get free CPE, and access to rich technical content. Don’t miss an episode – Follow us wherever you get your podcasts and leave us a review using this or copy and paste this URL into your browser https://forms.office.com/r/4cjNd6m1TJ so we can continue bringing valuable and relevant content to you. Any other issues can be sent to Information on credentials Our FVS credential programs allow AICPA members to demonstrate competence and confidence in providing forensic and valuation services to their clients. · (Accredited in Business Valuation) · (Certified in Fraud and Forensics) /episode/index/show/fvssection/id/26110062

Personal vs. Enterprise Goodwill: Key Things to Know 02/16/2023

Marketability Discounts 02/02/2023

Marketability Discounts Host: David Consigli, CPA/ABV, CDFA, FAZ CPAs Guest(s): Brian McIntyre, CVA, Partner, Withum - Forensic and Valuation Services Natalya Abdrasilova, CPA/ABV, MAFF, CVA, Director of Valuation & Litigation Services, BDM, PC Description: In this episode we interview Brian McIntyre and Natalya Abdrasilova, presenters at the 2022 FVS Conference, and discuss the following: Concepts surrounding marketability discounts are always evolving The criticality of finding data to support your conclusions Need to be flexible to different options for valuing marketability There is no "one size fits all" for determining marketability discounts Common errors Natalya and Brian have observed For Further exploration on this topic: If you’re using a podcast app that does not hyperlink to the resources, please visit to access the show notes with direct links. Resources available as part of FVS Section membership BRG (Business Reference Guide) Online - Provides an overview of different markets to create a baseline to develop discounts. available for purchase from AICPAconferences.com This podcast episode is part of the extensive resource library available from the , the premier provider of guidance, tools, and advocacy for professionals who specialize in providing forensics, valuation, litigation, and fraud services. Visit us online at , and if you’re not already a member, consider joining this active community of your FVS peers. You’ll get free CPE, and access to rich technical content. Don’t miss an episode – Follow us wherever you get your podcasts and leave us a review using this or copy and paste this URL into your browser https://forms.office.com/r/4cjNd6m1TJ so we can continue bringing valuable and relevant content to you. Any other issues can be sent to Information on credentials Our FVS credential programs allow AICPA members to demonstrate competence and confidence in providing forensic and valuation services to their clients. (Accredited in Business Valuation) (Certified in Fraud and Forensics) /episode/index/show/fvssection/id/25813938

ESG – Why the Business Valuation Practitioner Should Pay Attention 01/19/2023

ESG – Why the Business Valuation Practitioner Should Pay Attention Host: Josh Shilts, CPA/ABV/CFF/CGMA, ASA, CFE. Shilts CPA, PLLC Guest: Nene Gianfala, CPA/ABV, CEIV, ASA-BV/IA, Chaffe & Associates, Inc. Josh’s conversation with Nene confirms that ESG is not a fad that is going away. This episode will provide you with takeaways that business valuation practitioners need to know including potential increased risks for subject companies. What is ESG and how does it impact a business’ value How will newly required ESG disclosures trickle down and impact private companies Incorporation of ESG into your business valuation practice Why it is critical to consider ESG during your due diligence For Further exploration on this topic: If you’re using a podcast app that does not hyperlink to the resources, please visit to access the show notes with direct links. (CPE self-study, 9 credits) Additional articles on the AICPA website include: Resources available as part of FVS Section membership Other resources This podcast episode is part of the extensive resource library available from the , the premier provider of guidance, tools, and advocacy for professionals who specialize in providing forensics, valuation, litigation, and fraud services. Visit us online at , and if you’re not already a member, consider joining this active community of your FVS peers. You’ll get free CPE, and access to rich technical content. Don’t miss an episode – Follow us wherever you get your podcasts and leave us a review using this or copy and paste this URL into your browser https://forms.office.com/r/4cjNd6m1TJ so we can continue bringing valuable and relevant content to you. Any other issues can be sent to Information on credentials Our FVS credential programs allow AICPA members to demonstrate competence and confidence in providing forensic and valuation services to their clients. (Accredited in Business Valuation) (Certified in Fraud and Forensics) /episode/index/show/fvssection/id/25659468

409A Valuations – What you Need to Know 01/06/2023

409A Valuations – What you Need to Know Host: Nene Gianfala, CPA/ABV, CEIV, ASA-BV/IA, Chaffe & Associates, Inc. Guests: Zac Liermann, CPA, Senior Consultant, Wipfli LLP Jared Hannon, CFA, CEIV, Director, Grant Thornton LLP In this episode, we talk to Zac and Jared, who recently presented at the 2022 FVS Conference in Las Vegas on 409A Valuations and discuss the: History and explanation of 409A/ASC 718 Valuations Complex nature of 409A Valuations Difference between simple and complex capital structures Allocation methods appropriate under a particular fact pattern Implementing Option Pricing Model methodologies Also, “fun” stories of the most complex capital structure the presenters tackled and tips to conquer them in practice. For Further exploration on this topic – If you’re using a podcast app that does not hyperlink to the resources, please visit to access the show notes with direct links. Statement on Standards for Valuation Services (VS Section 100) FREE resource available for purchase from AICPAconferences.com Resources available as part of FVS Section membership – aka the Cheap stock guide This podcast episode is part of the extensive resource library available from the , the premier provider of guidance, tools, and advocacy for professionals who specialize in providing forensics, valuation, litigation, and fraud services. Visit us online at , and if you’re not already a member, consider joining this active community of your FVS peers. You’ll get free CPE, and access to rich technical content. Don’t miss an episode – Follow us wherever you get your podcasts and leave us a review using this or copy and paste this URL into your browser so we can continue bringing valuable and relevant content to you. Any other issues can be sent to Information on credentials – Our FVS credential programs allow AICPA members to demonstrate competence and confidence in providing forensic and valuation services to their clients. (Accredited in Business Valuation) (Certified in Fraud and Forensics) /episode/index/show/fvssection/id/25525110

Cost of Capital Ramifications of the Russia-Ukraine War and Global Inflationary Pressures 12/20/2022

Cost of Capital Ramifications of the Russia-Ukraine War and Global Inflationary Pressures Host: Mark Smith, Director of Valuation Services, AICPA-CIMA Guest(s): Carla Nunes, ABV, Managing Director, Kroll James Harrington, Director, Kroll In the wake of the COVID-19 pandemic entire segments of the global economy were shut down and reopened resulting in global supply chain disturbances. Additionally, Russia’s invasion of Ukraine has put further pressures on global agriculture, energy, and other commodity prices. As a result, we are in an unprecedented period in economic history. In this episode we interview Carla Nunes and James Harrington from Kroll (formerly Duff & Phelps). They were the keynote presenters at the 2022 FVS Conference just a few weeks ago. Join us as we discuss the cost of capital ramifications and how valuations may be impacted by these macroeconomic factors. Our FVS credential programs allow AICPA members to demonstrate competence and confidence in providing forensic and valuation services to their clients. (Certified in Fraud and Forensics) (Accredited in Business Valuation) Note: If you’re using a podcast app that does not hyperlink to the resources, please visit to access the show notes with direct links. Don’t miss an episode – subscribe to our podcast channel! And leave us a review using this , so we can continue bringing valuable and relevant content to you. Any other issues can be sent to This podcast episode is part of the extensive resource library available from the , the premier provider of guidance, tools, and advocacy for professionals who specialize in providing forensics, valuation, litigation, and fraud services. Visit us online at , and if you’re not already a member, consider joining this active community of your FVS peers. You’ll get free CPE, and access to rich technical content such as our AICPA & CIMA Forensic & Valuation Services Practice Aid, Calculating Lost Profits /episode/index/show/fvssection/id/25387359