Video

  • 9 minutes

Fair Value Quality Initiative and the Future of Fair Value in Financial Reporting

 
In regards to the fair value quality initiative, in 2014, the American Institute of CPAs (AICPA), the American Society of Appraisers (ASA), the Royal Institution of Chartered Surveyors (RICs), the Appraisal Foundation, along with global valuation leaders from international accounting firms, and the International Valuation Standards Council (IVSC) met informally to address concerns brought about by Deputy Chief Accountant of the U. S Securities and Exchange Commission, Paul A. Beswick. Mr. Beswick commented on observations of the SEC on the valuation profession. They agreed that in order to continue to provide outside valuation services for financial reporting purposes they needed to focus on having a mandatory framework for professionals who practice in this area, have a common level of education and have quality assurance.

In this 8-minute video our speaker, Mark L. Zyla CPA/ABV, CFA, ASA, reviews the status of the common credentials that each of the valuation professional organizations (VPOs) is currently working on.

Mark L. Zyla CPA/ABV, CFA, ASA, is a managing director of Acuitas Inc in Atlanta, Georgia. He is an experienced practitioner with fair value measurements. Mr. Zyla served on several professional committees which developed best practices in fair value including the AICPA’s Accounting and Valuation Guide, Testing Goodwill for Impairment and the Appraisal Foundation’s Contributory Asset Charges monograph.
Runtime: 9 minutes

Faculty

Mark L. Zyla, CPA/ABV, CFA, ASA

Mark L. Zyla, CPA/ABV, CFA, ASA

Zyla Valuation Advisors LLC

Agenda

Faculty

Mark L. Zyla, CPA/ABV, CFA, ASA

Mark L. Zyla, CPA/ABV, CFA, ASA

Zyla Valuation Advisors LLC

  • Managing director of Acuitas Inc in Atlanta, Georgia as an experienced practitioner with fair value measurements
  • Wrote Fair Value Measurement: Practical Guidance and Implementation, 2nd ed, published by John Wiley & Sons, he also co-wrote several portfolios on fair value topics published by BNA Bloomberg; he wrote Fair Value Accounting course published by the AICPA
  • Has served on several professional committees which developed best practices in fair value including the "AICPA’s Accounting and Valuation Guide," "Testing Goodwill for Impairment," and the "Appraisal Foundation’s Contributory Asset Charges" monograph
  • Member of the AICPA’s FVS Executive Committee as well as the Business Valuation Committee of the American Society of Appraisers
  • Conducts a two day workshop twice a year for the AICPA on "Fair Value Measurements"
  • Inducted into the AICPA’s Business Valuation Hall of Fame in 2013
  • Chairman of the Standards Review Board of the International Valuation Standards Council ( IVSC)

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