By Keiter CPAs
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).
“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.”
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