WHAT ARE YOUR REPORTING STANDARDS?
Our valuations are conducted in accordance with the Uniform Standards of Professional Valuation Practice (USPAP) as promulgated by the Valuation Foundation and the International Valuation Standards published by the International Valuation Standards Council.
All valuations also adhere to the requirements of a “valuation engagement,” as that term is defined in the American Institute of Certified Public Accountants Statement on Standards for Valuation Services No. 1 (SSVS No. 1).
How do you bill for your services?
We prefer to propose a flat retainer fee, based on a complimentary consultation, to estimate our valuation’s time and fees. A portion of our flat fee is remitted upon executing our Engagement Agreement.
If the actual time expended to render our services is less than expected, we will reduce our retainer fee accordingly. If we encounter unusual circumstances that would require us to expand the scope of the engagement, we will discuss this with you prior to expending the additional time and resources.
WHAT IS INCLUDED IN your VALUATION’S FLAT FEE?
The valuation fee includes performing multiple-year financial statement and/or tax return analyses, as well as the associated evaluation of applicable Approaches and Methods. Our formal, written report will typically total 30-50 pages, providing comprehensive narration of the analyses, Approaches, Methods and conclusion of value. The report will also contain supporting financial Tables, Charts and Exhibits, as well as Industry and National Economic synopses. The fee also includes any telephone conferences and meetings involved in developing and presenting the preliminary findings in an oral presentation to our Client and their financial, legal or tax advisors.
ARE THERE ADDITIONAL FEES?
Our retainer fee is for the valuation services, as agreed in the Engagement Letter, and the resulting valuation report. The fee does not include services that may be required to defend our valuation report in litigation, including any conferences, depositions, court appearances or income tax audit testimony. Fees for such services will be agreed in advance.
However, we will offer a complimentary consultation with our Client and/or their advisors, for the purpose of assessing the circumstances of any additional services and estimating our fee requirements.
what kind of INFORMATION do you INITIALLY REQUIRE?
Completion of our report is conditioned on the timely receipt of all required financial and non-financial information, including confidential copies of the following:
- Annual financial statements for a minimum of three fiscal years.
- Business income tax returns for a minimum of three fiscal years.
- Recent interim financial statements.
- Equipment and facility leases.
- Articles of Incorporation, or Articles of Organization if LLC.
- Corporate by-laws, or Operating Agreement if LLC.
Information requirements will vary depending on the type of business entity, purpose and scope of the valuation. Please, Contact us with questions.
WHAT IS THE TIMELINE FOR YOUR VALUATIONS?
We generally expect to complete our financial analyses and report our preliminary findings at a 1-2 hour oral presentation meeting within 2-3 weeks of obtaining all required information. The formal, written report is then subsequently produced.
WHAT IS YOUR CONFIDENTIALITY POLICY?
We understand the sensitive nature of the information provided to us in connection with engaging our valuation services. We adhere strictly to internal policies intended to protect the confidentiality of the information provided to us. We also restrict the distribution of the preliminary findings, email sharing and report information to our Client and/or their authorized advisors. Further, we prefer our formal written report is delivered in “hard-copy” form, and discourage its distribution in PDF or other electronic file formats.