‘Follow-up comments: How to deal with COVID-19 for Dec. 31, 2019, valuations’

‘Follow-up comments: How to deal with COVID-19 for Dec. 31, 2019, valuations’

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VFS Partner Shares Insights on Dec. 31, 2019 Valuations and COVID-19 Impact

Valuations and Forensic Services Partner, Harold G. Martin, Jr., shared his insights with BVWire regarding the appraisal discussed in a recent article dealing with a valuation date of Dec. 31, 2019, and the impact of Coronavirus (COVID-19).

Excerpt:

“As I noted in the article, for valuations with an effective valuation date as of 12/31/19, I would agree with the position taken by the appraiser that the economic impact of the coronavirus should be considered a subsequent event and therefore, the event would have no impact on the valuation. The appraiser’s report should also include a discussion noting the subsequent event. However, there is an additional issue in this instance given the purpose of the valuation that requires that I clarify my initial comments.”

Access the full article.

Source: BVWire

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About the Author

Keiter CPAs is a certified public accounting firm serving the audittax, accounting and consulting needs of businesses and their owners located in Richmond and across Virginia. We focus on serving emerging growth businesses and companies in the financial servicesconstructionreal estatemanufacturingretail & distribution industries and nonprofits. We also provide business valuations and forensic accounting servicesfamily office services, and inbound international services.

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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.

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