April 5, 2023

BUDGET 2023 – WHAT CBVs SHOULD KNOW

In its 2023 budget announcement last week, the Canadian government made two announcements that present potential opportunities for CBVs with succession/ estate planning practices, as well as their clients.

First, the budget proposed new tax rules to facilitate the use of Employee Ownership Trusts (EOTs) in business succession planning, effective January 1, 2024. EOTs provide business owners with an additional option to consider when succession planning for their businesses and facilitate employees becoming owners of the business in a tax-efficient manner.

Second, the government proposed amendments to Bill C-208, which came into effect in 2021. These amendments ensure that only genuine intergenerational transfers of family businesses, farms, and fishing businesses receive improved tax treatment.

These matters may present significant opportunities to CBVs and their clients.

CBV ROADSHOWS SCHEDULED FOR MAY

Do you know a financial professional such as a CPA or a CFA who is looking to elevate their expertise and take their career to the next level? If so, you’ll want to share this with them!

CBV Institute is hosting a series of roadshows across the country to introduce financial professionals to the challenging, unique, and fulfilling work that is a career in the CBV profession. The objective of the event is to familiarize attendees with the value of the CBV designation, and ultimately encourage these professionals to enrol in the CBV Program of Studies.

These events are taking place from May 9 – May 16, 2023, in the following cities: Vancouver, Calgary, Toronto, Ottawa, Montreal, and Halifax.

While these roadshows are geared toward CPAs and CFAs, all professionals with a background in accounting, finance, or business are welcome to attend. Please share the event poster below with anyone you think might be interested!

View the Poster…

CBV CONNECT 2023: SESSION SPOTLIGHT

Registration for CBV Institute's annual conference and flagship event, CBV CONNECT is open! Join us on June 8 - 9, 2023, in Toronto at the prestigious Sheraton Centre Toronto Hotel for an engaging and insightful experience.

CBV CONNECT is the signature event for CBV Institute, focusing on leadership in business valuation. This year's conference offers a fantastic lineup of sessions, including "Triangulation: The Art of Getting to the Right Answer."

Adam Johnson, Founder and Principal of Synthesis Valuations Inc., will guide attendees through the intricacies of notional valuations. Explore how to effectively use and triangulate between different valuation methods and data points to achieve the most well-reasoned and defendable conclusions. This session is perfect for practitioners of all experience levels, as you'll delve into real-life examples from various market participants' perspectives.

Don't miss this opportunity to enhance your expertise and expand your professional network at CBV CONNECT 2023. Secure your spot today and save $200 on early bird pricing!

Can't make it in person? You can register to livestream all Core BV sessions.

MEMBERSHIP APPLICATION DEADLINE APPROACHING

This a reminder to all individuals who have satisfied all requirements of membership and are looking to submit their applications for the second membership intake in 2023 - the deadline is approaching quickly.

Application Deadline: May 1, 2023

More Information…

SUMMER 2023 TERM – REGISTRATION OPEN SOON

Registration for the Summer 2023 term opens on Tuesday, April 18, 2023. The deadline to register for the Summer term is Thursday, May 4, 2023. Please register early, late registrations will not be accepted.

If you have any questions regarding registration, please email CBV Institute’s Education Department at education@cbvinstitute.com.

KROLL COST OF CAPITAL UPDATE

Canadian economic indicators are now available! We are pleased to share the January 2023 update to Kroll’s Cost of Capital in the Current Environment – Global Economic and Financial Market Trends Report. This report provides insights used to support Kroll’s Recommended Equity Risk Premia and Normalized Risk-free Rate guidance for a variety of countries, including Canada as well as other data such as stock market performance, long-term interest rates, credit spreads, etc.

Read the full report…

BVR RESOURCES AVAILABLE – WEBINAR TRANSCRIPTS

Did you know that CBV Institute has a dedicated BVR portal through which we provide CBVs and Students free access to many business valuation books, articles, and resources?

For example, the transcript from the archived webinar A Hybrid Approach to Determining Company-Specific Risk is available to view. In this session, David H. Goodman explains the theoretical reasoning as to why a company-specific risk premium is necessary for a small business when using the buildup method to estimate the cost of capital. He then presents a hybrid approach using the multiattribute utility model to quantify the company-specific risk premium. Finally, he shows how to incorporate Monte Carlo simulation into the model to determine the range of potential company-specific risk premium.

For instructions on how to access our BVR portal and unlock this wealth of information, please click here and log in.

State of M&A in the Canadian Mid-Market – Spring 2023
	The BC Workshop is proud to have RBC’s Mid-Market M&A team join us for this webinar, as they provide valuable insight on the Canadian private company M&A landscape, including activity levels, transaction influences and valuation metrics.
May 2, 2023		REGISTER

Incorporating ESG into Your Valuations
	ESG is one of the most significant contemporary themes in business. But how to incorporate ESG considerations into your valuation remains elusive. Join Richard Stewart OAM, Partner PwC Australia, as he outlines current and emerging practice and discusses leveraging the recent IVSC survey on ESG and Valuation. Richard will also outline the key valuation issues to examine with an ESG lens and touch on the industries where these issues are changing valuations right now.
May 10, 2023		REGISTER

Kick Off to CONNECT 2023 (Networking event)
	Attending CONNECT 2023 and looking for a great networking opportunity the night before? Live locally and want to network with other CBVs from across the country? Toronto’s Emerging Leaders in Valuation (formerly Young Professionals in Valuation) are pleased to host a networking event – Kick off CONNECT 2023! This event will take place at the Mill Street Beer Hall in the historic Distillery District of Toronto. We encourage Emerging Leaders in Valuation and all Congress attendees (regardless of age or experience) to register for this event, reconnect with old friends, and expand your professional network.
June 7, 2023		REGISTER

ALL EVENTS

Open Position	Company
Valuations Associate, Intermediate	SB Partners LLP Burlington
Financial Planning Analyst	Trimac Transportation Inc. Calgary
Senior Associate, Valuations And Litigation Services	Pettinelli Mastroluisi LLP Hamilton
Chartered Business Valuator	Paquette & Associates Attorneys Montreal
Associate / Senior Associate, Private Equity	Caloah Private Equity Vancouver
Valuation Associate	Ornstein Valuations Ltd. Toronto
Strategic Financial Valuation	Pratt & Whitney Canada Quebec
Manager/Senior Manager, Valuations	Davis Martindale London
Valuations Associate	Davis Martindale London
Valuation Specialist	BDC Montreal
Director, Valuation	CDPQ Montreal
Expert en évaluation d’entreprise (EEE / CBV)	G4 Solutions Laval
Advisor/Senior Advisor, Valuation Governance (Real Estate)	PSP Investments Montréal

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