Meet Harold

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Harold G. Martin, Jr., is a Director in Keiter’s Valuation and Forensic Services (VFS) Practice. He was formerly the Partner-in-Charge of the VFS Practice for 23 years and member of Keiter’s Executive Committee and Partner Compensation Committee. He has over 40 years of experience in valuation, forensic accounting, public accounting, and financial services. He has performed over 2,000 valuation and forensic accounting projects in over 220 industries.

He has qualified as an expert witness before U.S. District Court, U.S. Bankruptcy Court, and 22 circuit courts in five states, as well as the American Arbitration Association and National Association of Securities Dealers. He has been named as an expert in disputes subject to the Financial Industry Regulatory Authority. He has been appointed by U.S. District Court as a forensic accountant on cases in which he collaborated with the Securities and Exchange Commission and the Federal Bureau of Investigation. He has been appointed by the U.S. Office of the Federal Public Defender as a consultant on fraud cases. He has also been retained by the U.S. Department of Justice as a consultant in a litigation in U.S. District Court. He has presented testimony at trial, arbitration, and deposition over 95 times.

He is an adjunct faculty member of The College of William and Mary Raymond A. Mason School of Business. He has taught forensic accounting in the Master of Accounting program for 19 years, and he has also served as a guest lecturer for the M.B.A program and the Marshall-Wythe School of Law. He has also served as a guest instructor at the FBI Academy for forensic accountants in Quantico, Virginia.

Prior to joining Keiter, he was affiliated for 13 years with two of the “Big Eight” (now “Big Four”) international accounting firms, serving as a Director responsible for managing the Financial Advisory Services practice for Coopers & Lybrand’s Richmond, Virginia office and as a Senior Manager in Management Consulting Services for Price Waterhouse. He also served as a Direct Loan Officer in retail banking at First & Merchants National Bank.

He is a frequent speaker and writer on valuation and forensic accounting. He is a co-author of Financial Valuation:  Applications and Models, 1st-45th ed., a contributing author to Cost of Capital:  Estimation and Applications, 2nd-4th ed., an Editorial Board member for Business Valuation Update, a former editor of the AICPA ABV e-Alert, a former editorial adviser and contributor for the AICPA CPA Expert, a former member of the VSCPA Editorial Task Force for Disclosures, and a former expert panelist for Financial Valuation and Litigation Expert. He has been interviewed by The Wall Street Journal, as well as numerous other publications.

Among other accolades and awards, Harold has been named a Top 200 CPA for 2024 by Forbes.

American Institute of Certified Public Accountants (AICPA)

  • Certified Public Accountant (CPA)
  • Accredited in Business Valuation (ABV)
  • Certified in Financial Forensics (CFF)
  • AICPA Business Valuation Hall of Fame, inducted in 2012
  • AICPA Business Valuation Volunteer of the Year Award, 2000 and 2004
  • AICPA National Business Valuation School, instructor
  • AICPA Expert Witness Skills Workshop, former instructor
  • ABV Exam Review Course, former instructor
  • AICPA Business Valuation Committee, former member
  • AICPA National Business Valuation Conference Steering Committee, former chair and vice-chair
  • AICPA National Accreditation Commission, former commissioner
  • AICPA ABV e-Alert, former editor
  • AICPA CPA Expert, former editorial advisor and contributing author

Virginia Society of Certified Public Accountants (VSCPA)

  • VSCPA Content Committee, member
  • VSCPA Forensic & Valuations Services Conference, creator and former chair for 20 years
  • VSCPA Disclosures Editorial Task Force, former member
  • VSCPA Board of Directors, former member
  • VSCPA Business Valuation Committee, former chair
  • VSCPA Litigation Services Committee, former chair
  • Selected as a “Super CPA” in business valuation in peer surveys sponsored by Virginia Business each year from 2001 (inception) to 2014 (final year), and was profiled in 2007 edition
  • VSCPA Outstanding Discussion Leader, 2000

American Society of Appraisers (ASA)

  • Accredited Senior Appraiser in Business Valuation (ASA)
  • Richmond Chapter, former president, vice president, and treasurer

Association of Certified Fraud Examiner (ACFE)

  • Certified Fraud Examiner (CFE)

Estate Planning Council

  • Member

American Academy of Matrimonial Lawyers Foundation Forensic and Business Valuation Division

  • Former member

Financial Consulting Group

  • Member (An invitation only organization of independently owned accounting, business valuation, and financial services firms which provides members processes, tools, and educational and networking events)

Expert Resource Connection, LLC

  • Member (An invitation only, limited member group of business valuation and forensic accounting professionals formed for the purpose of sharing resources, technical assistance and collaborating on engagements and best practices)

The College of William and Mary

  • Member of the Board of Directors for the William & Mary Alumni Association
  • Former president and a member of the Board of Directors, Greater Richmond Chapter of the W&M Alumni Society
  • Adjunct Faculty Member for the William & Mary Raymond A. Mason School of Business
  • Guest Lecturer for the William & Mary MBA Program and the Marshall-Wythe School of Law

Boy Scouts of America

  • Former Assistant Scout Master
  • Former “Friends of Scouting” Team Captain

Richmond Jaycees

  • Former Member of the Board of Directors
  • Outstanding First Year Jaycee

Editor, Editorial Board, and Expert Panel

  • Member of the Editorial Board for Business Valuation Resources’ Business Valuation Update, a national newsletter published monthly for the business valuation profession, 2016 – present.
  • Former member of the Editorial Task Force for the Virginia Society of Certified Public Accountant’s Disclosures, a monthly publication published for members in Virginia, 2016-2022.
  • Former Expert Panelist for Financial Valuation and Litigation Expert, a bimonthly journal that presents the views of leading experts in valuation, forensics/fraud, and litigation services edited by James R. Hitchner, 2006 – 2020.
  • Member of the Editorial Board for Business Valuation Resources’ Business Valuation Update, a national newsletter published monthly for the business valuation profession, 2016 – present.
  • Former Member of Advisory Board for Business Valuation Resources’ Cost of Capital Professional, a software application for estimating the cost of equity, 2018.
  • Former editorial adviser and contributing author for the American Institute of Certified Public Accountants CPA Expert, a national newsletter published quarterly for CPAs who specialize in providing valuation, fraud, and litigation consulting services, 2002 to 2010.
  • Former editor of the American Institute of Certified Public Accountants Business Valuation Committee ABV e-Alert, a national electronic newsletter published monthly for CPA/ABVs who specialize in valuation – 1999 (inception) to 2006.

Books

  • Hitchner, James R., ed., Financial Valuation:  Applications and Models, 5th ed. New York:  John Wiley & Sons, Inc. pending publication in 2024.  (Co-author; text serves as the source material for the AICPA’s business valuation education program).
  • Martin, Jr., Harold G., “Iterative Process Using CAPM to Calculate the Cost of Equity Component of the Weighted Average Cost of Capital When Capital Structure is Constant,” qtd. in Cost of Capital: Applications and Examples 4th ed. Workbook and Technical Supplement. Shannon P. Pratt and Roger J. Grabowski. Hoboken:  John Wiley & Sons, Inc., 2010.  34-48.

Periodicals (Selected)

Technical Reviews

  • Fannon, Nancy J., and Jonathan M. Dunitz, eds., The Comprehensive Guide to Economic Damages, 7th ed, Chapter 19: “Lost Profits for Physician Practices and Violation of Noncompete Agreements,” Portland:  Business Valuation Resources, 2023.
  • Hitchner, James R., et al. Discount for Lack of Marketability Guide, Ventnor:  Valuation Products and Services, LLC, 2017.
  • Hitchner, James R., AICPA National Business Valuation School. National Fastener Case Study, Ventnor:  Valuation Products and Services, LLC, 2016.
  • Hitchner, James, Shannon P. Pratt, and Jay E. Fishman.  Hitchner · Pratt · Fishman – A Consensus View – Q&A Guide to Financial Valuation, Valuation Products and Services, LLC, 2016.
  • Zyla, Mark L., Fair Value Measurements – Practical Guidance and Implementation, 2nd ed.  Hoboken:  John Wiley & Sons, Inc., 2013.
  • Trugman, Gary R., Understanding Business Valuation, 4th ed.  New York:  American Institute of Certified Public Accountants, 2012.
  • Pratt, Shannon P., Cost of Capital – Estimation and Applications, 2nd ed.  Hoboken:  John Wiley & Sons, Inc., 2002.
  • Pratt, Shannon P., Business Valuation Discounts and Premiums.  New York:  John Wiley & Sons, Inc., 2001.

Interviews

  • Smith, Tori, “Back to Class,” Virginia Society of Certified Public Accountants Disclosures, Fall 2022: 28-32.
  • Burkert, Rod, “Practice Development INSIDER:  Expert Interview.  Actionable Advice,” Webinar broadcast on July 10, 2020.
  • Dzamba, Andy, “Follow-up comments: How to deal with COVID-19 for Dec. 31, 2019, valuations,” BVWire, April 8, 2020:  #211-2.
  • Dzamba, Andy, “How to deal with COVID-19 for Dec. 31, 2019, valuations,” BVWire, April 1, 2020: #211-1.
  • Dzamba, Andy, “Thoughts and advice on valuations amid the COVID-19 crisis,” BVWire, March 25, 2020: Issue #210-4.
  • Rapoport, Michael, “CPAs Fight to Protect Part of Their Turf,” The Wall Street Journal, August 20, 2018.
  • Knighton, Chip, “Member Spotlight: Harold Martin’s Path to the Valuation Hall of Fame,” Virginia Society of Certified Public Accountants, July 24, 2018.
  • Knighton, Chip, “Conference Calls:  Inside VSCPA Conferences With the Members Who Plan Them,” Virginia Society of Certified Public Accountants, September 2, 2016.
  • Dzamba, Andy, “Newest BVU Editorial Board Member is a Strong Advocate of Education,” Business Valuation Update, January 2016: 23-24.
  • Hazard, Carol, “Trucking Firm Owner Passed Hope, Dream Onto Successor,” Richmond Times Dispatch, October 11, 2015: D-1, D-6.
  • Hazard, Carol, “Accounting Firm Known for Entrepreneurial Spirit” and “Digging into the Numbers to Help Investigate Crime,” Richmond Times Dispatch, November 10, 2014: E12-E13.
  • “Hardball with Hitchner, Martin, Seigneur, and Yeanoplos,” co-presenter of a webinar broadcast nationally by Valuation Products and Services, November 14, 2023.
  • “Surviving Cross Examination,” co-presenter of a CPE seminar presented at the Tennessee Society of Certified Public Accountants Southeastern Forensic and Valuation Services Conference, October 24, 2023.
  • “Ask the Experts,” co-presenter of a CPE seminar presented at the Tennessee Society of Certified Public Accountants Southeastern Forensic and Valuation Services Conference, October 25, 2023.
  • “Surviving Cross Examination,” co-presenter of a CPE seminar presented at the Virginia Society of Certified Public Accountants Forensic and Valuation Services Conference, September 26-27, 2023.
  • “Defending Your Cost of Capital – New Concepts to Strengthen Your Discount Rate,” co-presenter of a webinar broadcast nationally by Valuation Products and Services, August 9, 2023.
  • “Ask the Experts Roundtable” co-presenter of a CPE seminar presented at the Financial Consulting Group University, Atlanta, Georgia, April 25, 2023.
  • “Surviving Cross Examination” co-presenter of a CPE seminar presented at the Financial Consulting Group University, Atlanta, Georgia, April 25, 2023.
  • “‘The Price is Right – Or Not’ – Use and Misuse of the Market Approach Guideline Transaction Method,” – CPE seminar presented at the American Institute of Certified Public Accountants National Forensic and Valuation Services Conference, Las Vegas, Nevada, November 16, 2022.
  • “When Valuation Experts Disagree,” co-presenter of a CPE seminar presented at the American Institute of Certified Public Accountants National Forensic and Valuation Services Conference, Las Vegas, Nevada, November 14, 2022.
  • “‘The Price is Right – Or Not’ – Use and Misuse of the Market Approach Guideline Transaction Method,” – CPE seminar presented at the Tennessee Society of Certified Public Accountants Southeastern Forensic and Valuation Services Conference, October 27, 2022.
  • “Surviving Cross Examination,” co-presenter of a CPE seminar presented at the Tennessee Society of Certified Public Accountants Southeastern Forensic and Valuation Services Conference, October 26, 2022.
  • “‘The Price is Right – Or Not’ – Use and Misuse of the Market Approach Guideline Transaction Method,” – CPE webinar broadcast nationally by the Financial Consulting Group, October 18, 2022.
  • “Hardball With Hitchner,” – panelist for a seminar presented at the Virginia State Society of Certified Public Accountants Annual Forensic and Valuation Conference, September 29, 2022.
  • “Practice Makes Perfect Practice:  Recruiting, Marketing & Succession Planning,” co-presenter of a seminar presented at the Virginia Society of Certified Public Accountants Forensic and Valuation Services Conference, September 29, 2022.
  • “‘The Price is Right – Or Not’ – Use and Misuse of the Market Approach Guideline Transaction Method,” co-presenter of a seminar presented at the Virginia Society of Certified Public Accountants Forensic and Valuation Services Conference, September 30, 2022.
  • “Surviving Cross Examination,” co-presenter of a seminar presented at the Virginia Society of Certified Public Accountants Forensic and Valuation Services Conference, September 30, 2022.
  • “Tricky Valuation Issues,” co-presenter of a CPE seminar presented at the American Institute of Certified Public Accountants National Forensic and Valuation Services Conference, Las Vegas, Nevada, November 9, 2021.
  • “Active versus Passive Appreciation: Overview and Examples,” co-presenter of a CPE seminar presented at the American Institute of Certified Public Accountants National Forensic and Valuation Services Conference, Las Vegas, Nevada, November 8, 2020.
  • “Post-COVID-19 Cost of Capital,” – CPE seminar presented at the Tennessee Society of Certified Public Accountants Southeastern Forensic and Valuation Services Conference, Brentwood, Tennessee, October 19, 2021.
  • “‘You’ve Lost That Lovin’ Feelin’ – Quantifying Personal and Entity Goodwill Using the Residual Method,” co-presenter of a CPE seminar presented at the Virginia Society Certified Public Accountants Forensic and Valuation Services Conference, September 30, 2021.
  • “Hardball with Hitchner,” co-presenter of a CPE seminar presented at the Virginia Society Certified Public Accountants Forensic and Valuation Services Conference, September 30, 2021.
  • “Succession Planning in the Closely Held Business,” co-presenter of a CLE seminar presented at the Virginia Conference on Federal Taxation, Charlottesville, Virginia, June 3, 2021.
  • “Hardball with Hitchner,” co-presenter of a seminar presented at the 2021 Florida Institute of Certified Public Accountants Valuation, Forensic Accounting, and Litigation Virtual Conference, January 8, 2021.
  • “The Impact of Coronavirus on Valuations,” 50th Annual Virginia Accounting and Auditing Virtual Conference, November 19-20, 2020.
  • “Valuation COVID-19 Impact Roundtable,” co-presenter of a seminar presented at the American Institute of Certified Public Accountants National Forensic and Valuation Services Virtual Conference, November 9, 2020.
  • “Valuation for Succession Planning,” co-presenter of a seminar presented at the American Institute of Certified Public Accountants National Forensic and Valuation Services Virtual Conference, November 10, 2020.
  • “‘It’s Like Déjà vu All Over Again’ co-presenter of a seminar presented at the Valuing a Business in the Post-COVID-19 Pandemic Economy,” Tennessee Society of Certified Public Accountants Southeastern Forensic and Valuation Services Virtual Conference, October 20, 2020.
  • “‘It’s Like Déjà vu All Over Again’ – Valuing a Business in the Post-COVID-19 Pandemic Economy,” co-presenter of seminar presented at the Kansas Society of Certified Public Accountants Business Valuation Virtual Conference, October 23, 2020.
  • “‘It’s Like Déjà vu All Over Again’ – Valuing a Business in the Post-COVID-19 Pandemic Economy,” – CPE seminar presented at the 2020 Annual Virginia Society of Certified Public Accountants Business Valuation, Fraud, and Litigation Services Virtual Conference, September 17, 2020.
  • “Practice Development Insider” – CPE webinar broadcast nationally by Burkert Valuation Advisors, LLC, July 10, 2020.
  • “COVID-19 and Business Valuation – What to do NOW! Valuing Small, Medium, and Large-Size Businesses – Part 3” co-presenter of a CPE webinar broadcast nationally by the Financial Consulting Group, July 1, 2020.
  • “Discounted Cash Flow: Speculative or Convincing” co-presenter of a CPE webinar broadcast nationally by Business Valuation Resources, June 4, 2020.
  • “COVID-19 and Business Valuation – What to do NOW! Valuing Small, Medium, and Large-Size Businesses” co-presenter of a CPE webinar broadcast nationally the Financial Consulting Group, May 14, 2020.
  • “Valuation and Covid-19 Update: BVR Townhall and Q&A” co-presenter of a CPE webinar broadcast nationally by Business Valuation Resources, May 6, 2020.
  • “The Use of Financial Experts in Family Law Cases” co-presenter of a CLE webinar sponsored by the Virginia State Bar Family Law Section and Virginia Continuing Legal Education Advanced Family Law Program, Charlottesville, Virginia, April 16, 2020.
  • “Extreme Uncertainty: How Valuation Experts Should Respond to Today’s Volatility and Risk” co-presenter of a CPE webinar broadcast nationally by Business Valuation Resources, April 7, 2020.
  • “FCG Member Roundtable on the Implications of the Coronavirus on Business Valuation” co-presenter of a CPE webinar broadcast nationally by the Financial Consulting Group, April 2, 2020.
  • “Cost of Capital” co-presenter of CPE seminar presented at the American Institute of Certified Public Accountants National Forensic and Valuation Services Conference, Las Vegas, Nevada, November 4-6, 2019.
  • “Cost of Capital” and “How to Identify a Flawed Valuation” – CPE seminar presented at the Tennessee Society of Certified Public Accountants Southeastern Forensic and Valuation Services Conference, Brentwood, Tennessee, October 22-23, 2019.
  • “How to Detect a Rigged Valuation” co-presenter of a CPE seminar presented at the 2019 Annual Virginia Society of Certified Public Accountants Business Valuation, Fraud, and Litigation Services Conference, Richmond, Virginia, September 19, 2019.
  • “Cost of Capital” and “How to Identify a Flawed Valuation” – CPE seminar presented at the Kentucky Society of Certified Public Accountants Forensic Accounting and Business Valuation Conference, Louisville, Kentucky, August 23, 2019.
  • “Expert Insight into Expert Depositions” – CLE panel discussion presented at the Virginia Association of Defense Attorneys Spring Sections Seminar, Staunton, Virginia, May 9, 2019.
  • “How to Identify a Flawed Valuation” – CPE seminar presented at the Virginia Accounting and Auditing Conference, Falls Church, Virginia, September 27-28, 2018, Roanoke, Virginia, October 1-2, 2018, and Norfolk, Virginia, November 15-16, 2018.
  • “Surviving Cross Examination” and “Quantifying Personal and Entity Goodwill Using a Residual Method” co-presenter of CPE seminars presented at the American Institute of Certified Public Accountants National Forensic and Valuation Services Conference, Atlanta, Georgia, November 5-7, 2018.
  • “Expert Panel Discussion” – CLE panel discussion presented at the Richmond Metropolitan Area Local and Specialty Bar Associations 27th Annual Bench-Bar Conference, Richmond, Virginia, October 25, 2018.
  • “What Really Goes on Between the Balance Sheets – Case Studies in Forensic Accounting” – seminar presented for the FBI Academy’s Forensic Accountant Core Training Session (FACTS), Quantico, Virginia, April 3, 2018 and July 17, 2018.
  • “How to Detect and Attack a Rigged Valuation”; “Cost of Capital – Theory and Applications”; and “A Consensus View Q&A on Controversial Valuation Issues with Jay Fishman, Jim Hitchner, and Harold Martin” co-presenter of CPE seminars at the American Institute of Certified Public Accountants National Forensic and Valuation Services Conference, Las Vegas, Nevada, November 13-15, 2017.
  • “The Six Elements to Assembling an Accurate Valuation – Part 3: Cost of Capital and Part 4:  Guideline Public Company Method” – CPE seminar presented at the Tennessee Society of Certified Public Accountants Southeastern Forensic and Valuation Services Conference, Brentwood, Tennessee, October 24, 2017.
  • “AICPA Expert Witness Skills Workshop – Key Basic Concepts of Economic Damages” co-presenter of webinar broadcast nationally by the American Institute of Certified Public Accountants, August 30, 2017.
  • “Valuation in Litigation Services” co-presenter of webinar broadcast nationally by the American Institute of Certified Public Accountants, July 12, 2017.
  • “Deconstructing a Rigged Report” – CPE seminar presented at the Maryland Association of Certified Public Accountants 2017 Forensic Valuation Conference, Baltimore, Maryland, June 2, 2017.
  • “Enterprise vs. Personal Goodwill:  Case Studies with Legal Insights (An Advanced Workshop)” co-presenter of webinar broadcast nationally by Business Valuation Update, March 9, 2017.
  • “How to Detect and Attack a Rigged Valuation”; “Income Approach II:  Cost of Capital”; “Valuation Case Study Q&A”; co-presenter of CPE seminars at the American Institute of Certified Public Accountants National Forensic and Valuation Services Conference, Nashville, Tennessee, November 6-8, 2016.
  • “Economic Damages for Business Litigations” and “Cost of Capital” – CPE seminar presented at the Tennessee Society of Certified Public Accountants Southeastern Forensic and Valuation Services Conference, Brentwood, Tennessee, October 25, 2016.
  • “Case Studies in Forensic Accounting” – CPE seminar presented at the 17th Annual Virginia Society of Certified Public Accountants Business Valuation, Fraud, and Litigation Services Conference, Richmond, September 19-20, 2016.
  • “Forensic Accounting” – moderator of panel discussion presented to The College of William and Mary Raymond A. Mason School of Business, Williamsburg, Virginia, September 16, 2016.
  • “Goodwill:  Let’s Get Personal” co-presenter of webinar broadcast nationally by Business Valuation Update, August 9, 2016.
  • “Surviving Cross Examination”; “Income Approach I and II; “Valuation Case Study Q&A”; co-presenter of CPE seminars at the American Institute of Certified Public Accountants National Forensic and Valuation Services Conference, Las Vegas, Nevada, November 8-10, 2015.
  • “Business Valuations for Estate, Gift and Income Taxes” – seminar presented to the Estate Planning Council of Roanoke, Roanoke, VA, October 6, 2015.
  • “Forensic Accounting Overview and Case Studies” co-presenter of a seminar to the Federal Bureau of Investigation Supervisor Forensic Accountant Summit, Crystal City, Virginia, June 18, 2015.
  • “Economic Damages for Corporate Litigations” – CLE webinar sponsored by Virginia Continuing Legal Education, Charlottesville, VA, May 26, 2015.
  • “Business Valuation and Classification of Property for Equitable Distribution in Divorce” – CLE webinar sponsored by Virginia Continuing Legal Education, Charlottesville, VA, May 12, 2015.
  • “Business Valuations for Estate, Gift and Income Taxes” – CLE webinar sponsored by Virginia Continuing Legal Education, Charlottesville, VA, May 12, 2015.

Insights from Harold

Keiter Director Named as a Top 200 CPA by Forbes

BVR Update: The Latest News from the 2023 VSCPA Forensic and Valuation Conference

VFS Partner Featured in VSCPA’s Disclosures Article

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