16
Jul
Valuation, Valuation News, Whitepapers

Valuation Raised as an Issue by the OCIE

On June 23, 2020, a Risk Alert was released by the SEC on behalf of the Office of Compliance Inspections and Examinations (“OCIE”) that provides an overview of compliance issues found during examinations of registered investment advisers that manage private equity or hedge funds (“private fund advisers”). The Risk Alert…
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16
Jun
Valuation, Valuation News, Whitepapers

Fair Value in Times of COVID-19

The Financial Accounting Standards Board Accounting Standards Codification (FASB ASC) defines fair value, or Topic ASC 820, as the “amount that would be received in an orderly transaction using market participant assumptions at the measurement date”. The uncertainty associated with COVD-19 and the actions taken to reduce the spread of…
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11
Jun
Valuation

Understanding Personal Goodwill Valuations

The Internal Revenue Service defines goodwill as “the value of a trade or business based on expected continued customer patronage due to its name, reputation, or any other factor”.1 Court decisions have recognized a distinction between the goodwill of a business itself and the goodwill attributable to the owners or…
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24
Apr
Valuation, Valuation News

SEC’s New Framework Proposal for Fund Valuation Practices

The Securities and Exchange Commission (SEC) has proposed a new rule to modernize fund valuation practices. The rule clarifies how fund boards can satisfy their valuation obligations, and, according to SEC Chairman Jay Clayton, “would improve valuation practices, including oversight, thereby protecting investors”. The proposed rule would: establish requirements for…
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