DISCIPLINARY ACTION

Comments affecting the professional reputation of another Member

CBV Institute’s Conduct and Discipline Committee would like to bring to your attention that a Member has been reprimanded for failing to comply with the Code of Ethics related to a dispute engagement, by making comments that could be seen as an attempt to injure the professional reputation of another Member. The Member admits that he failed to follow the Code of Ethics of CBV Institute related to this matter, by making comments that could be seen as an attempt to injure the professional reputation of another Member. This violated the Code of Ethics requirement of the profession to treat other Members with professional courtesy and consideration.

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BV CHALLENGE 2022 HAPPENING THIS WEEK

We are pleased to be hosting our inaugural Business Valuation Challenge on Thursday and Friday of this week. On Thursday, 63 university students on 20 teams from business schools across Canada will take part in the preliminary round, with the top three teams moving on to the finals on Friday. Thank you to our sponsors for making this year’s event possible. We would like to invite you to watch the livestream of the closing remarks and awards ceremony on Friday, November 18, at 3 pm ET. The remarks will be broadcast on our YouTube channel at the link below. Access the Livestream…

GUIDANCE PUBLISHED - IMPACT OF IFRS 16 ON VALUATION

The Institute of Valuers and Appraisers Singapore (IVAS), the business valuation organization in Singapore, has released new guidance highlighting how valuers should address issues arising from IFRS 16, Leases.

The change from IAS 17 to IFRS 16 led to an increase in leased assets and financial liabilities on the balance sheet and increases in EBITDA of the lessee. Companies with material off-balance sheet lease commitments encountered significant changes in key valuation metrics.

For valuers, IFRS 16 added an additional level of complexity in valuations and complicated the comparability of valuation multiples. This guidance note addresses IFRS 16’s impact on cash flow, discount rate calculations and impact on market multiples.

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SHORT SURVEY ON BILL C-208 VALUATIONS

Did you know that CRA guidance surrounding Bill C-208 explicitly notes that a valuation report that meets CBV Institute’s standards will meet CRA expectations for an independent assessment of fair market value? Bill C-208, which came into effect on June 29, 2021, spells out the requirements for an independent assessment of fair market value for the transfer of a small business, family farm or fishing corporation. The CRA provides guidance on the expected contents of valuation reports. CBV Institute has developed a short (one-question) survey for CBVs performing valuations related to Bill C-208. Take the Survey…

UPCOMING IN-PERSON YPV EVENTS

Registration is open for the following events:

Southwestern Ontario Rocks – November 23: Rock climbing at Junction Climbing Centre followed by snacks and drinks at Anderson Craft Ales!

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YPV Montreal & University Social - November 23: Networking, snacks, and insightful speakers. Drew Dorweiler will discuss hot topics in business valuation, and CBV Institute Board Member Catherine Tremblay will provide valuable information, and answer all your burning questions, about CBV Institute.

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TOP CBV UNDER 40 NOMINATIONS OPEN

Nominations are now open for Top CBV Under 40 in Memory of David Cornfield CA, CBV, recognizing an exceptional CBV on-the-rise in his or her career who has demonstrated success in a broad diversity of interests, brought distinction to the profession, and embodies outstanding service. Such a CBV is inspiring not only for career accomplishment but for realizing meaningful ways of giving back while achieving impressive professional goals.

The nomination deadline is December 31, 2022.

 HALL OF HONOURS NOMINATIONS OPEN

FCBV Designation

Granting of the Fellow designation is the highest honour CBV Institute confers. The FCBV recognizes those Members who have demonstrated acknowledged achievements in the following fields of activity:

• provided distinguished service to the business valuation profession, and
• brought significant recognition to the business valuation profession.

The nomination deadline is December 1, 2022.

Life Member Designation

The designation of Life Member is granted to Members who have attained eminence in the field of business valuation and who have retired from active practice as a business valuator.

The nomination deadline is December 1, 2022.