Forensic and Valuation Services Conference (E2409160)

Stay current on developments impacting your services. Gain the know how to produce accurate, thorough and meaningful results for clients.

This conference is presented by the Virginia Society of CPAs (VSCPA) in cooperation with the NJCPA.

Thursday, September 19, 12-4 p.m.

12-1:15 p.m.
Preparing Tomorrow's Workforce
Kristine Fors, CPA/ABV.CVA - Gross Mendelsohn & Associates
Rumbi Petrozello - Seramount
Brenda Wamala, ABV, CFE - Blue & Co.
This session will focus on transforming the pipeline of new entrants into the forensic analysis and valuation services professions. Specifically, the panel will explore the responsibility of forensic and valuation professionals to build and support an inclusive and equitable pipeline of new and existing talent, and share experiences regarding the significant value that a diverse team exerts on engagements and engagement opportunities. In addition, the panel will discuss various resources available to support pipeline development.

1:30-2:45 p.m.
All in the Family—Related Party Companies in Divorce
Karolina Calhoun - Mercer Capital
Kevin Segler - KoonsFuller
This session will cover all things related party in divorce valuation, including entity structure issues, multilayering with discounts, and tracing marital versus separate asset ownership with complex multi-entity ownerships. We will also discuss related parties in the business and said impact on ownership, valuation, and division—including the consideration of classes of stock in division, such as GP versus LP or voting versus nonvoting.

3-3:50 p.m.
Navigating Industry Valuation Issues: Value Drivers, Rules of Thumb & Special Considerations
Brian Burns, CPA and Nathan Duke, CPA, CFE - Forvis
Certain industries require nuanced approaches and importance considerations that impact value. From blue sky in an auto dealership, to multiple of book value in a bank, to revenue multiple in a dental practice or calculation of workforce in place for a physician practice, there are special considerations that appraisers should evaluate when preparing a valuation.

Friday, September 20, 9:05 a.m.-12:55 p.m.

9:05-9:55 a.m.
The Digital Underworld: AI-Generated Fraud Schemes
Rajesh Melappalayam, CFE
As organizations embrace digital transformation, the threat landscape expands to include sophisticated AI-driven fraud schemes. Among these, synthetic identities, audio and video deepfakes standout — where perpetrators create fictitious identities by blending real and fabricated information, create deepfake audio and video which can be used for fake identities, account take over (ATO) fraud, transaction authorizations, etc. We will look at the fraud landscape pre- and post-GenAI.

10:05-10:55 a.m.
Five Practical Use Cases of Generative AI & Machine Learning in Fraud Prevention & Detection
Vincent Walden, CPA, CEO - KonaAI
Everyone talks about AI and how it can change how we work, but few can demonstrate its effectiveness or practical application. Technology is useless if it does not help to solve a problem, reduce risk or increase efficiency. In this session, Vincent Walden, CEO of KonaAI, a leading AI-driven anti-fraud prevention and detection software company, will present five practical use cases of how leading companies utilize generative AI and machine learning across their vendor, customer and employee transactional data to increase business transparency and enhance their fraud risk management program in line with regulatory expectations and their own company policies.

11:05-11:55
Commercial Damages: Quantifying Economic Loss
Rasmus Jorgensen, PhD
This session provides an introduction and overview of lost profits as a measure of economic damages in various types of litigations. Topics covered will incude the situations where lost profits may be appropriate, the framework for analyzing lost profits, supporting a claim with expert testimony and evidence, quantifying and presenting lost profits damages, potential pitfalls, and how to avoid them. Also covered in this session are methods for calculating lost profits, including estimating lost sales volume, price erosion, and costs.

12:05-12:55 p.m.
Singing for Your Supper: A New Expert’s Roadmap to Effective Testimony
Martin Cunniff, JD - Fields Han Cunniff PLLC
This session is designed exclusively for novice expert witnesses poised to navigate the complexities of the legal arena. Get equipped with the essential skills, knowledge and poise required to deliver compelling, clear and credible testimony at trial.