A Business Valuation Expert’s Perspective Drawing from a presentation at the 2025 NACVA BVFL Super Conference by Glenn Block and Greg Clark, this article explores key elements of effective engagement letters, common pitfalls, and practical examples to guide valuation experts in crafting robust agreements. In the ever-evolving landscape of business valuation and forensic accounting, engagement letters serve as a cornerstone of professional practice. As highlighted in the 2025 NACVA presentation by Glenn Block and Greg Clark, these documents are not mere formalities. Rather, they are strategic tools that can protect practitioners, clarify expectations, and ensure compliance with professional standards. Drawing…
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Understanding the Claims Process and Anticipating Issues The merger and acquisition (M&A) market has evolved over the last several years and faced turbulence in 2020. One increasingly popular aspect of an M&A transaction is the use of representation and warranty insurance policies. After acquiring a business, a buyer may become aware that representations and warranties in the purchase agreement that it relied upon regarding the acquired company were inaccurate. For example, the buyer may learn the company’s historical income was overstated and, as a result, the buyer had overvalued the company. If the buyer purchased a representation and warranty insurance…
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Are You Properly Insured? Expert witnesses face many of the same risks other businesses face; from first-party losses such as damage to property, to third-party losses from legal liability. While the nature of a business dictates specific insurance needs, most businesses carry a portfolio of insurance that includes property and business interruption, commercial general liability and excess liability, automobile liability and physical damage, and workers compensation insurance. Professionals such as doctors, lawyers, accountants, and yes, expert witnesses, face special risks from their performance of “professional services” for third parties, and thus have the need for professional liability insurance which is…