Why is finding a “qualified” appraiser so critical?

Many financial consultants believe they have the skill set to perform a business valuation, and many do possess excellent skills.  However, they frequently lack the proper training and experience needed to produce a valuation that adheres to established standards, guidelines and procedures. With more and more valuations being challenged by the IRS and in the courtroom, you need a qualified appraisal that will be well supported and stand up to today’s increased scrutiny. 

In addition to appropriate certifications, valuation experts should have considerable experience and be able to make decisions independently and in a non-biased manner. Your valuation professional should communicate clearly to assist all parties in accepting and understanding the process utilized to reach the determined conclusion. Lastly, your appraiser should have the highest ethical standards and be respected by his/her peers.