Advisory committee considers e-discovery sanctions | Collaborative divorce offers a more amicable separation | E-mail plays role possible criminal charges in MF Global case
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April 17, 2012
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Forensic Corner
University assists FBI with breaking cybercrime ring
University of Alabama professor Gary Warner and his students helped the FBI shut down a cybercrime ring that stole $70 million from U.S. companies. The group relied on data mining and social media research to locate and identify individuals involved. The perpetrators, many in Ukraine, targeted bank-account information from about 400 companies using Trojan software ZeuS. MSNBC/"Rock Center" (3/21)
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Advisory committee considers e-discovery sanctions
The Federal Advisory Committee on Rules of Civil Procedure convened in March to discuss discovery rules for electronically stored information. The committee is considering changes that would address preservation requirements and sanctions under the Federal Rules of Civil Procedure. The committee aims to develop a uniform rule for sanctions for parties that fail to preserve or provide electronic documents. Law.com/Law Technology News (4/6)
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Collaborative divorce offers a more amicable separation
Divorcing couples might choose collaboration to ease the turbulence of separation. Instead of court proceedings, couples agree to a series of negotiations with expert assistance. Financial professionals can help analyze and divide assets and even educate a couple on financial planning and budgeting. Vail Daily (Colo.) (3/20)
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Other News
Valuation Corner
Mitchell case raises valuation issues for estate taxes
A recent Tax Court case demonstrates the difficulty of valuing artwork and other property for estate-tax purposes. Questionable valuations could lead to examinations and litigation by the Internal Revenue Service. Clients can lessen the risks by ensuring property has received sound and consistent appraisals. The Tax Adviser (4/2012)
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How secondary securities markets affect fair market value
Growth of secondary markets raises questions about the proper valuation of privately held securities. Whether secondary trading reflects the fair value of securities depends on factors such as information provided to participants and market orderliness. The Financial Accounting Standards Board provides guidance on measuring fair value in Accounting Standards Codification Topic 820. JDSupra.com/Startup Law Blog (4/6)
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Optimistic stock valuation might be hiding market risk
A different approach to valuing stocks might give investors reason to doubt the sustainability of the market's rally. Cyclical-adjusted analysis of reported earnings under generally accepted accounting principles shows stocks are overvalued as much as 18%. Business Insider/Comstock Partners (4/6)
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Business valuation and estate planning go hand in hand
Less than half of small-business owners have had their company valued for estate-planning purposes, according to a survey. Failure to properly value a business could create big problems for an owner's estate. For example, improper valuation could lead to tax consequences for heirs after review by the Internal Revenue Service. JDSupra.com (4/4)
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AICPA FVS News
Time is running out! Register for CFF or ABV spring exam by May 25
Demonstrate your expertise in financial forensic accounting or business valuation with the CPA-exclusive Certified in Financial Forensics and Accredited in Business Valuation credentials by sitting for the spring 2012 CFF or ABV exam. Each exam assesses knowledge on all aspects of the CFF or ABV Content Specification Outline. The Financial Forensic Accounting Education Series and the ABV Examination Review Course are available to help you prepare. Registration for the spring exam is open until May 25. Register!
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FVS member resource: MorningstarŪ Cost of Capital Resources Center
In your next valuation, use the most widely sourced valuation research in the industry, Morningstar's Cost of Capital Resources Center. Morningstar and AICPA's Forensic and Valuation Services Section joined forces to offer a promotion exclusively to FVS members to gain unlimited access to three of five CCRC modules: Industry Analysis, Peer Group Builder and Beta Reports. This promotion ends April 30. FVS members interested in subscribing to CCRC receive a 20% discount from the annual retail price. See CCRC promotion details. Not an FVS Section member? Join and save $50 when you use promo code FVE11.
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Non-CPAs can join AICPA's FVS Section
Are you a non-CPA who works in forensic accounting or business valuation? If so, changes to the AICPA's membership bylaws might allow you to join the FVS Section and receive access to valuable tools, resources and information available exclusively to members. Join the FVS Section to take advantage of practice-management tools, practice aids and other non-authoritative guidance, exclusive membership discounts, opportunities of continuing professional eduction and more. Join today!
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AICPA FVS Events
Back by popular demand! AICPA Business Valuation Web Seminar Series: "Core Competencies From the Nation's Leading Experts"
Are you or your staff interested in learning more about one of the fastest-growing niche practice areas? Join us as we rebroadcast the AICPA Business Valuation Web Seminar Series, which provides best practices, proven strategies and timely information that will help you expand into this lucrative practice area. Register for all 16 events in the "Core Competencies" bundle (FVS members save $200) or all 10 events in the "Fundamentals" bundle (FVS members save $100). Not an FVS Section member? Join for bundle savings! Save $50 when you use promo code FVE11.
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FVS CPE calendar
Continuing professional eduction is required for CPAs to maintain their professional competence and provide quality services. In addition, CFF and ABV credential holders are subject to recertification that includes meeting discipline-specific CPE requirements. Take a step toward meeting such requirements by registering for FVS-sponsored CPE events. A FVS/CFF/ABV discount is available.

Webinars (All begin at 3 p.m. ET. CPE: 2 credits.)
Live courses
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SmartQuote
Believe and act as if it were impossible to fail."
-- Charles F. Kettering,
American inventor
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Learn more about FVS ->Join FVS Section | Become a CFF | Become an ABV
About the Forensic and Valuation Services Section
The Forensic and Valuation Services Section 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 Accredited in Business Valuation 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 Certified in Financial Forensics 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.
AICPA FVS Section Resources
 
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