Tiki Cheung is a highly accomplished professional in the field of finance and accounting. As a CBV, Tiki has offered valuable guidance to clients on a wide range of valuation matters. Tiki has established her professional journey, assisting clients in understanding the effects of valuation and business modeling. She has acquired extensive knowledge across various industries, with a particular emphasis on the technology and life sciences sectors. We recently had the opportunity to speak with Tiki about her experience as a CBV, including her main takeaways from the CBV Program of Studies, here is some of what she had to say:
How has the CBV designation supported your career development?
I started my CBV relatively early in my career while still in university. This was largely due to the influence of a motivating professor who holds the CBV designation. Though I previously worked in assurance, after completing my CFE (the UFE at that time), I immediately pursued a valuation role that intrigued me. While I learned a lot from my time in assurance, the CBV designation has been instrumental in shaping my career path. Especially in the earlier stages of my career, the CBV piqued people’s interest and gave me a great conversation starter with clients and new contacts who were interested in learning more about the profession and my day-to-day job responsibilities.
Can you share a particularly challenging, yet interesting valuation analysis that made you realize you had chosen the right career path?
This particular experience is deeply ingrained in my memory:
During the earlier stages of my career, I had the opportunity to work on a massive valuation project where I assisted in creating methodologies to value sports franchises. The assignment involved examining three sports franchises – an NHL, NBA, and MLS franchise – all within the same project. It was a fascinating experience that required the incorporation of all aspects of a CBV’s expertise.
We had to analyze the fundamental elements that drive the value of a specific asset, understand the uniqueness of the sports franchise sector, conduct extensive research and interviews, and learn how the market perceives the value of a sports team. The project was challenging, but I thoroughly enjoyed the learning process. It was a rare opportunity that enabled me to apply my core knowledge of valuation principles and sector knowledge while also incorporating accounting and tax implications. The complexity of the assignment made it an amazing learning experience that I will never forget.
What differences do you see in your current role as compared to your previous roles?
In my opinion, being a CBV involves more of an advisory or consulting role where you can help clients from a strategic perspective. While assurance also allows for strategy and big picture thinking, it’s still fundamentally tied to a compliance perspective. As a CBV, I find it intriguing to assist clients on a pre-deal basis, helping them consider pricing strategies for potential acquisitions, the types of intangibles they may be acquiring and identifying potential synergies for that sector. This incorporates more of a consulting role and, as a CBV, I can wear both hats, i.e. participating in broader strategic discussions but also helping clients understand any financial reporting considerations once the deal closes.
Do you have any tips for people looking to become a CBV?
1. I believe the first and most important step is to speak with other CBV professionals, especially those who are currently working as a CBV or are in the process of becoming one. By gaining insight from their experiences, you can obtain a more realistic and practical understanding of what the job entails, as opposed to simply reading about the requirements on a website.
2. It’s essential to learn as much as possible, so take advantage of available resources, such as CBV Institute’s website and social media platforms.
3. Additionally, if you’re still in school, consider taking a business valuation course as an elective. This is how I was introduced to the profession, and I ended up loving it. My professor helped shape my career.
4. It’s crucial to have a sense of curiosity and to ask professionals about their day-to-day experiences.
#FunFact: I have a fear of heights, but on one of my birthdays, I went paragliding in Switzerland, which was both exhilarating and nerve-wracking.