Braver Valuation Services Director Joins International Valuation Standards Council 'Valuation Uncertainty Project'

Share Article

Sarah von Helfenstein, Director of Braver Valuation Services LLC, invited to join the International Valuation Standards Council’s (IVSC) “Valuation Uncertainty Project.”

This project is important for not only the valuation but also the accounting, finance, investing, and government communities.

Braver PC announced today that Sarah von Helfenstein, Director of Braver Valuation Services LLC has been invited to join the International Valuation Standards Council’s (IVSC) “Valuation Uncertainty Project.”

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: http://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: http://www.ivsc.org

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Holly Intravia

617-559-4458
Email >
Visit website