By Keiter CPAs
VFS Partner Talks Coronavirus’ (COVID-19) Impact on Business Valuations
Valuations and Forensic Services Partner, Harold G. Martin, Jr., was quoted in an article by BVWire where he shared his insights on the potential impact the Coronavirus (COVID-19) pandemic will have on business valuations.
“As the coronavirus pandemic continues its relentless march across the globe, we have reached out to members of the Business Valuation Update Editorial Advisory Board to begin to gather their thoughts on the impact of the crisis on valuations. We will assemble the full comments of the board into a free document and make that available soon. In the meantime, here are a few observations and pieces of advice we have received so far from experts the world over.
Harold Martin, partner-in-charge of valuation and forensic services for Keiter (Richmond, Va.): In terms of what was known or knowable, “the issue actually goes back to late February and early March when the virus started to spread, and the stock market began to reflect the expected economic impact. For purposes of assessing the impact on a valuation completed on or after those dates, an appraiser would essentially do what they always should do for any valuation…”
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The information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.