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| The Valuation Prophecy: Consideration of Post-Valuation Date Information (2087Q) |
Course CPE: 2 hours
Field(s) of Study: Economics–1 hr; Business Law–1 hr
Program Level: Intermediate
Prerequisites: Previous training or research on subject matter being taught. Such persons are often at a mid-level within the organization, with operational and/or supervisory responsibilities.
Advanced Preparation: None
Delivery Method: QAS Self-Study |
Item
Number: 25BV0827VPC
Shipping Weight: 0lbs. 0oz. |
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$147.00 |
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Recording Date: August 27, 2025
Presenter: Alan Clements
Program Description:
Valuing a business or asset as of a specific date often requires separating what was truly knowable from what is merely retrospectively obvious. This course explores one of the most complex and litigated areas of business valuation. Whether and how to use post-valuation-date information, including hindsight evidence and subsequent events. Drawing on federal tax law (e.g., gift and estate valuation under §?2031 and §?2512), case law (including Ithaca Trust, Newberger, and Jackson), and standards under USPAP, SSVS, and international accounting rules, this presentation clarifies the legal and valuation boundaries of foreseeability.
We will analyze real-world valuation disputes involving tax audits, shareholder litigation, and financial reporting, including controversial examples where the IRS or courts have accepted or rejected post-event data. This course also explores strategic considerations when drafting expert reports and defending valuation opinions that rely (or refuse to rely) on such evidence. Attendees will learn how to distinguish between admissible hindsight and inadmissible hindsight bias, and how to structure valuations that withstand scrutiny.
Takeaways
Attendees will learn the foundation of tax law, valuation principles, and evidentiary standards that govern post-valuation-date events, gain clarity on the difference between hindsight evidence, apply the standard of foreseeability, and understand how courts assess whether an event was "reasonably foreseeable". They will learn how to anticipate and mitigate IRS and audit risk, and be able to draw insight from leading cases.
After completing this course, you will be able to:
- Identify “hindsight evidence” and “subsequent events” in valuation practice
- Determine when post-valuation-date information may be used in gift and estate tax cases
- Recognize foreseeability standards from major judicial decisions and professional valuation guidance
- Differentiate real-world examples, including mergers, market developments, and litigation cases
- Identify how to anticipate IRS challenges and prepare credible, defensible valuations
For more information regarding refund or concerns, please contact our offices at (800) 677-2009.
The Consultants’ Training Institute (CTI) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. |
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