There is significant potential for disagreement among auditors, the FASB, the SEC, and reporting entities over the meaning(s) of FAS 157. What are these disagreements?
Also, the new rules imply significant diversions from past practices and a greatly heightened scrutiny of fair value estimates, along with new disclosures. What are these diversions?
To find out the answers to the above questions and more, please download Espan Robak's presentation in PDF format.
Espen Robak, ERobak@PlurisValuation.com, President of Pluris Valuation Advisors LLC, is a nationally recognized expert on restricted securities, securities design, levels of value, and discounts for lack of liquidity, and a prolific writer on business, valuation and taxation topics. Recent article topics include PIPE (private investment in public equity) valuations, proposed new Rule 144, illiquidity discounts, valuation of stock options, M&A arbitrage data, restricted stock and marketability, and the valuation of trademarks. Mr. Robak has been quoted in the PIPEs Reporter, Compliance Week, Inside Market Data, BV Resources, Opalesque, Hedge Fund Manager Week, HedgeWorld and Absolute Return.
Pluris Valuation Advisors LLC is a full‐service valuation firm specializing in valuing restricted securities and other assets that lack liquidity. Valuing illiquid securities is endlessly challenging. The positions of the FASB and the SEC are ever‐shifting. The market is evolving, presenting a "moving target" for the valuation expert, administrator, compliance officer, auditor, and SEC examiner tasked with making sense of the process. Pluris was founded specifically for the purpose of bringing clarity and consistency to the valuation of restricted securities, including restricted stock, convertible securities, warrants, and other derivatives.