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Audit Valuation Review – Roles, Responsibilities and Processes

Event Details:

Speakers :

Mr. Eugene Liu, CPA, NACVA, Partner, Audit and Assurance Services, RSM Nelson Wheeler

Mr. Joe Yan, CFA, Manager, Transaction Advisory Services, RSM Nelson Wheeler

Date : 13 September 2012 (Thursday)

Time : 7:00pm - 9:00pm (Registration starts at 6:30pm)

Venue : Auditorium, 1/F., Duke of Windsor Social Service Building, 15 Hennessy Road, Wanchai, Hong Kong

Language : Cantonese (no simultaneous translation)

CPD Credit : 2 hours

Fee : HK$100**

** Fees collected will be utilized to fund events and activities for development of the accounting profession.

About the seminar:

This seminar is targeted to audience who are engaged in audit or preparation of financial statements. The speakers will introduce to you the importance of valuation and fair value measurements (“FVM”) during the course of an audit. They will explain to you the key factors or issues which need to be focused on and assessed during an audit valuation review, from the viewpoint of an in-house valuation team member.

Topics of focus include:

(i) Importance of valuation and fair value measurements (“FVM”) in auditing;

(ii) Relevant accounting standards requiring valuation and FVM;

(iii) Examples of assets or liabilities to be fair-valued (e.g. business enterprise valuation, financial instruments, purchase price allocation, etc.);

(iv) Normal processes of and parties involved in an audit valuation review;

(v) What to look at during an audit valuation review – background information, valuation report, calculation models or workings, and supporting documents; and

(vi) Examples showing key factors or issues which need to be assessed during an audit valuation review.

About the speakers:

Mr. Eugene Liu is the Partner of RSM Nelson Wheeler. He is responsible for the development and management of valuation and transaction support services of the Company. Eugene has developed valuation experience for various industries such as manufacturing and real estate and he assisted numerous listed companies in assessing various kinds of assets such as intangibles, goodwill, etc.

Mr. Liu received a Bachelor degree in Commerce from the University of Manitoba, Canada and also a Master degree in Business Administration from the University of Oregon, the United States of America. He is a member of Hong Kong Institute of Certified Public Accountants (HKICPA), the American Institute of Certified Public Accountants (AICPA), and National Association of Certified Valuation Analyst (NACVA).

Mr. Joe Yan is the manager of RSM Nelson Wheeler. He is responsible for the appraisal of business enterprises, purchase price allocation, intangible assets and financial derivatives such as employee share options, convertible bonds, financial guarantees and foreign exchange forward contracts. Mr. Yan also has extensive experience in performing valuations involving different industries such as manufacturing, logistics, information technology, computer application software and education. He also assists the Company’s audit teams to review and comment on valuation reports performed by different professional, independent valuers. Apart from valuation advisory, he also assists clients in developing business models and financial projections for fund raising and M&A purposes.

Mr. Yan received a Bachelor degree in Business and Finance from the Hong Kong Polytechnic University. He has also been a Chartered Financial Analyst (CFA) charterholder since 2007. He is now the member of the CFA Institute and the Hong Kong Society of Financial Analysts.


1) Those interested are requested to register on-line by filling in the attached enrolment form. Acceptance will be on a first-come-first-served basis.

2) Successful enrolments will be confirmed by email. Unsuccessful applicants will be automatically placed on waiting list; they will be called up in the order of time of receipt of registration when vacancies arise.

3) Applicants may check their registration status using the same membership number of their professional affiliation when they register.


1) After receiving our Confirmation, you can either pay cash or cheque for admission at location.

2) If pay by cash, please present the Confirmation with your cash payment when you attend the seminar.

3) If pay by cheque, please make cheque payable to Accounting Development Foundation Limited. Write down your name and Enrolment ID number on the back of the cheque and submit it with the Confirmation when you attend the seminar.

Seat Accommodation:

Please note that seats accommodation for accepted participants will be reserved until 15 minutes after the seminar starts. Seats may not be available for participants who are late for over 15 minutes.

CPD Hours:

For those participants who have not attended the full session, the number of CPD hours will be discounted according to the actual time of attendance. Completed CPD hours will be granted to attendees who have attended the full session. For the exact recognition of the CPD hours, please check with the respective Institute or Association.

Bad Weather Arrangement:

The event may be cancelled or re-scheduled when typhoon no.8 or black rainstorm warning is hoisted. Please refer to our web site for the arrangement.


Accounting Resources Centre (ARC)

CPD Requirements: Our seminars can fulfil CPD requirements. As professional bodies would not formally endorse the seminars we provide, it does not mean that the events we organize do not meet the CPD purpose. Registrants should note that you are responsible for determining whether our seminars or any event satisfy your CPD requirements i.e. that the training you receive are of appropriate standard and relevance to your maintaining and enhancing the technical knowledge and professional expertise. If necessary, please check with your respective professional body before registering our seminars. ARC does not warrant that the attendance of our seminars or events would automatically be recognized by the respective professional bodies as fulfilling your CPD requirements.

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