As a Partner at Baker Tilly WM LLP, Simi provides audit services to publicly listed entities and has extensive expertise in various specialty services including business valuations, business acquisitions, valuations for financial reporting, and litigation support. She actively contributes to the profession as a member of CBV Institute’s Emerging Leaders in Valuation Organizing Committee.
How has the CBV designation supported your career development?
I have always been interested in business valuations and the world of corporate finance, so I enrolled in the CBV program in 2019. My background in cell and molecular biology and my CPA designation provided me with a wealth of knowledge, but the CBV designation was the catalyst for my professional growth. It gave me the professional edge to stand out in the marketplace, the confidence to build my practice, and the technical skills to be an objective expert or trusted advisor to my clients.
Can you share a particularly challenging, yet interesting valuation analysis that made you realize you had chosen the right career path?
Valuations are inherently complex, with each engagement presenting its own unique set of challenges. Over the last couple of years, technological advancements and increasing environmental awareness have given rise to the number of valuations in emerging industries such as renewable energy or biotechnology. These valuations are particularly challenging due to the scarcity of financial data, uncertainty in future performance, and limited comparable companies in the marketplace. Even with the added challenges, these are the types of engagements that I look forward to the most as they remind me that the process of valuing a business is a combination of art and science and I’m able to play to my strengths. I find the valuation of early-stage companies to be particularly rewarding as the analysis can significantly impact key decision-making processes and help guide investment decisions, funding rounds or potential mergers and acquisitions.
What differences do you see in your current role as compared to your previous role?
When I started my career in public practice, my primary focus had been on the audit of publicly listed entities. Auditing and valuations both require a high level of professional judgement, but they differ in their objectives and focus areas. Auditing helped me gain a fundamental understanding of how businesses operate with a focus on capturing historical transactions. Whereas valuations provided me with a bigger-picture perspective and a more holistic understanding of businesses with a focus on the future earnings potential of a business.
Do you have any tips for people looking to become a CBV?
• While going through the CBV program, find a firm where you can gain a wide range of practical experience and embrace a continuous learning mindset.
• Given the time pressure with the Member Qualification Exam, set realistic expectations and let go of perfectionism.
#FunFact – Travelling is a passion of mine and I have been fortunate to work internationally in both Australia and New Zealand