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October 18, 2011
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  Forensic Corner 
  • Computer forensics offer insight beyond documents
    Information gleaned from computer forensics is more than document collection. Metadata provide insight into a person's actions, including attempted cover-up, and the timing of those actions, said Veeral Gosalia, senior managing director of FTI Consulting. Computer-forensic practitioners have started searching social media and clouds as well. To prepare for a potential forensic search, companies should know how their data are stored and develop a data-collection plan beforehand, Gosalia said. The Metropolitan Corporate Counsel (10/2011) LinkedInFacebookTwitterEmail this Story
  • How a damages expert can help a legal case
    An economic-damages expert can serve a crucial role in litigation, one attorney writes. A damages expert can help clients refine their case at every stage, from developing theories to conducting discovery and settling. Retaining a damages expert early in the process can help a party analyze its approach and strengthen its chances of winning in court. (10/11) LinkedInFacebookTwitterEmail this Story
  • Struggling firms eye asset sales to maintain value
    More companies are looking to asset sales to avoid Chapter 11 bankruptcy, experts said. For some, the approach offers a convenient way to maintain operation while satisfying creditors and preserving value. "The costs of bankruptcy take away from the value of the company," one buyer said. CFO Magazine (10/2011) LinkedInFacebookTwitterEmail this Story
  • Forensic experts uncover digital fingerprints in unlikely places
    Even melted-down and torn-apart computers can hold evidence of user activity. Forensic experts such as Jim Zogorski, founder of Digital Forensics Consultants, can extricate data that clients need for litigation, including alleged employee wrongdoing and spousal disputes, from almost any source, even when users try to cover their tracks. For example, Zogorski has found cellphone calendars and records of an external hard drives on computers that users thought were evidence-free. (10/4) LinkedInFacebookTwitterEmail this Story
  • Other News
  Valuation Corner 
  • Demand rises for valuation services
    Among Accounting Today's 2011 Top 100 Firms, business valuation is the top niche service for growth, highlighting increasing demand for calculations for proper value analysis and CPAs trained to conduct them. Standards for business valuation are increasing with demand. "Years ago, valuations was simply dropping numbers in a spreadsheet, and it was really a matter of professional judgment," said Randall Paulikens, a partner at WithumSmith+Brown. "But now it's become more sophisticated and formalized." Accounting Today (10/1) LinkedInFacebookTwitterEmail this Story
  • Apple and Amazon offer up valuation mystery
    A comparison of Apple's and Amazon's stock prices shows that price-to-earnings ratios aren't always the most useful approach to valuation. While Apple outperforms in terms of earnings and growth, Amazon has a higher price-to-earnings ratio. The reason could be that the companies belong to different industry groups, with varying price-to-earnings averages. Another possibility, is that the " 'Inefficient Market' is not a theory, but a reality," according to this analysis. Seeking Alpha (9/29) LinkedInFacebookTwitterEmail this Story
  • Court: Goodwill and loan-loss statements are opinion, not fact
    Plaintiffs might have more difficulty suing preparers for false or misleading statements after a court decision from the U.S. Court of Appeals for the 2nd Circuit. The case, Fait v. Regions Financial Corp., involved a preparer's statements about a client's goodwill and loan-loss reserves as part of a stock offering. The statements were the defendant's opinion and shouldn't be treated as fact for the purpose of liability, the court ruled. Compliance Week/Accounting & Auditing blog (9/27) LinkedInFacebookTwitterEmail this Story
  • Other News
  • Directories to find a CFF or an ABV are available
    The Forensic and Valuation Services team compiled directories for Certified in Financial Forensics and Accredited in Business Valuation credential holders. The CFF and ABV directories are organized by last name and location. To have your information added or updated, contact for the CFF directory and for the ABV directory. LinkedInFacebookTwitterEmail this Story
  • Answers to members' questions on SSVS and SSARs are available
    The AICPA Forensic and Valuation Services Executive Committee published this series of questions and answers on practice issues dealing with the applicability of SSARs in business-valuation reports. Issues addressed include the use of general ledgers, tax returns, normalization and control adjustments, and internally prepared company financial statements for business-valuation reporting. This information is included in the AICPA Valuation Standard and Implementation Toolkit. LinkedInFacebookTwitterEmail this Story
  • Last chance to sit for CFF and ABV fall exams in 2011; register by Nov. 1
    The fall 2011 Certified in Financial Forensics and Accredited in Business Valuation exams will be offered from Nov. 7 to Dec. 10. Special pricing is available for Forensic and Valuation Services Section members and when registering two or more candidates from the same firm. Register by visiting or If you have questions, contact or LinkedInFacebookTwitterEmail this Story
  AICPA FVS Events 
  • Practical Applications track at AICPA National Business Valuation Conference!
    You asked, and we listened! The Practical Applications track at the 2011 AICPA National Business Valuation Conference, scheduled Nov. 6 to 8 in Las Vegas, is designed to give you practical take-aways that address specific strategies and best practices for tackling an issue. With three other concurrent session tracks -- Litigation, Financial Reporting and Advanced -- you will further your knowledge-based skills and stay on top of the complex issues shaping the business-valuation landscape. Forensic and Valuation Services Section members save $100. Register! LinkedInFacebookTwitterEmail this Story
  • New for 2011: "Valuation Specialization" sessions at AICPA National Healthcare Industry Conference
    Valuation and transaction matters have become more important in the health care industry, and the AICPA National Healthcare Industry Conference, scheduled Nov. 17 and 18 in Baltimore, will offer sessions that help you acquire specific knowledge in this area. Select sessions will be broadcast live. If you or additional staff cannot attend the conference, choose to attend a virtual session. Forensic and Valuation Services Section members save $100. Register! LinkedInFacebookTwitterEmail this Story
Learn more about FVSJoin FVS Section  |  Become a CFF  |  Become an ABV
Too many people overvalue what they are not and undervalue what they are."
--Malcolm Forbes,
American magazine publisher

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Contact AICPA
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Durham, NC 27707-8110
Phone: 888.777.7077
Fax: 800.362.5066
About the FVS Section
The Forensic and Valuation Services specialty area is designed to provide CPAs with a vast array of resources, tools and information about forensic and valuation services. The FVS section serves CPAs who hold the Accredited in Business Valuation and Certified in Financial Forensics specialty credentials, members of the FVS Section, AICPA members and others.
About the ABV Credential
The Accredited in Business Valuation program provides specialized access to information, education, tools and support that enhance credential holders' ability to make a genuine difference for their clients and employers. ABV credential holders may brand or position themselves as premier business valuation service providers who differentiate themselves by going beyond the core service of reaching a conclusion of value and creating value for clients through the strategic application of this analysis.
About the CFF Credential
The Certified in Financial Forensics credential combines specialized forensic accounting expertise with the core knowledge and skills that make CPAs among the most trusted experts. The CFF credential encompasses fundamental and specialized forensic accounting skills that CPA practitioners apply in a variety of service areas, including: bankruptcy and insolvency; computer forensics; economic damages; family law; fraud investigations; litigation support; stakeholder disputes and valuations. To qualify, a CPA must be an AICPA member in good standing, have at least five years of experience in practicing accounting, and meet minimum requirements in relevant business experience and continuing professional education.

 Recent Forensic & Valuation Reporter Issues:   Lead Editor:  Ashley Fletcher Frampton
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