As stated in the IVSC description of the Project:

A lack of adequate identification and disclosure of material valuation uncertainty was identified by a number of global institutions as a contributory factor to the global financial crisis of 2007 and 2008. The Financial Stability Forum (FSF)1 noted in a paper published in 20082 that valuation methods “result in an inevitable measure of uncertainty attaching to the point estimates of valuation. Finding ways to highlight such uncertainty is important to avoid giving management and market participants a false impression of precision 9”.

In April 2009, the G20 “Declaration on Strengthening the Financial System” called for improved standards for valuation uncertainty in the context of fair value accounting. The Basel Committee for banking supervision issued its paper “Supervisory Guidance for Assessing Banks’ Financial Instrument Fair Value Practice” in April 2009. This emphasised the critical importance of robust risk management and control processes around the measurement of fair values and their reliability. The paper recognised importance of “articulation and communication of valuation uncertainty both within a bank and to external stakeholders”.

The International Accounting Standards Board (IASB) is also considering enhanced disclosure requirements for valuation uncertainty in the International Financial Reporting Standards (IFRS).

Von Helfenstein states, “This project is important for not only the valuation but also the accounting, finance, investing, and government communities. It will be a privilege to work with colleagues around the world in addressing the many issues surrounding valuing and representing uncertainty. I hope to be able to bring my own intensive background in this area to the project and to enhance the expertise offered by Braver Valuation Services through the many things I will learn as project participant.”

About Braver PC
Braver PC provides accounting, tax, assurance, business and tax consulting services to family-owned and privately-held businesses, not-for-profit and governmental organizations and individuals.  Braver PC brings together five service lines, accountants & advisors, wealth management, technology solutions, business strategies, and valuation services to support the evolving needs of businesses and organizations as they grow. 

Headquartered at 117 Kendrick Street, Suite 800 Needham, Massachusetts, Braver P.C., the 9th largest public accounting firm in Massachusetts, has offices in Needham, Boston, Concord, Taunton, and Providence, Rhode Island.   For more information, visit:  www.thebravergroup.com

About IVSC
The International Valuation Standards Council (IVSC) is an independent, not-for-profit, private sector organisation that has a remit to serve the public interest. The IVSC’s objective is to build confidence and public trust in the valuation process by creating a framework for the delivery of credible valuation opinions by suitably trained valuation professionals acting in an ethical manner.

• The IVSC achieves this objective by: (a) creating and maintaining the International Valuation Standards (IVS); (b) issuing technical guidance for professional valuers; and (c) promoting the development of the valuation profession and ethical practices globally.  For more information, visit: www.ivsc.org

With BVS since inception, von Helfenstein has more than fifteen years in the valuation profession in a number of different roles. As champion for business valuation on behalf of the American Institute of CPAs, she provided the educational and political foundation for the public accounting profession to become an integral, critical part of the current valuation field. As partner with the American Society of Appraisers, she created business valuation’s first think tank, The Center for Advanced Valuation Studies, and initiated CAVS’ first line-up of cutting edge courses. She served as the first Director of Marketing for KPMG Forensic and Litigation Services, Midwest. She performed seminal research for the Department of Defense Office of Force Transformation in the areas of valuing human and information system assets and applying real options analysis to critical DoD problems.

More recently, as a practitioner/analyst in the Boston area von Helfenstein has managed and performed business valuations across a wide spectrum of industries and valuation purposes. She has published in Business Valuation Review, The Value Examiner, and Research in Finance and has presented academic research at the XXV Union of Panamerican Valuers Congress of the Appraisal Institute, the NACVA/IBA 2010 Annual Consultants’ Conference, and a number of times at the annual International Real Options Conference. She currently sits on the Appraisal Issues Task Force, the NACVA Education Quality Assurance Board, and the Valuation Uncertainty Project for the International Valuation Standards Council.

Other chapters of von Helfenstein’s professional history include ten years as Vice President and Chief Financial Officer for a high-powered boutique wealth management consulting firm and community foundation and a number of years as principal in and/or consultant for high tech start-ups. She received her MBA from DePaul University’s Kellstadt Graduate School of Business and her B.A. from Randolph-Macon Women’s College.

“I am thrilled to have the opportunity to continue our work here at Braver and to build Braver Valuation Services into new and exciting directions,” said von Helfenstein.

“Sarah has been an instrumental part of the growth of our valuation practice.  Her love of working with clients, coupled with her depth and breadth of valuation expertise, uniquely positions Braver Valuation Services to meet the exploding demand for valuation services today and in the coming years” says Dennis Pellechia, Chairman, President and CEO of Braver PC.

About Braver PC
Braver PC provides accounting, tax, assurance, business and tax consulting services to family-owned and privately-held businesses, not-for-profit and governmental organizations and individuals.  Braver PC brings together five service lines, accountants & advisors, wealth management, technology solutions, business strategies, and valuation services to support the evolving needs of businesses and organizations as they grow.

Headquartered at 117 Kendrick Street, Suite 800 Needham, Massachusetts, Braver P.C., the 9th largest public accounting firm in Massachusetts, has offices in Needham, Boston, Concord, Taunton, and Providence, Rhode Island.

Click here to read more from Ed on the NACVA website

Posted on: October 19, 2010

Posted on: October 19, 2010

Posted on: May 15, 2010