The International Valuation Standards Council (IVSC) Valuation Webinar Series, sponsored by Kroll, returns June 2–27, 2022, with five thought-provoking panel discussions. Join participants from around the world and hear from leading international experts on topics including the global economic outlook, the impact of inflation on valuation and cost of capital, ESG, Intangibles, and the growing influence of digital assets in the investment world.
The speakers include Alistair Darling, IVSC Chair and Former UK Chancellor of the Exchequer; Megan Greene, Kroll Chief Economist and Financial Times columnist; Ranjit Singh, IMF Global Markets Chief and former International Organization of Securities Commissions (IOSCO) Deputy Chair; Jeremy Stuber, Corporate Reporting Users’ Forum (CRUF) Chair; Olwyn Alexander, PwC Global Asset and Wealth Management Leader; Kiran Swinglehurst, CPP Investments Managing Director, Liquidity Risk; Dominique Carouge, former Sanofi CFO; and Bradford Cornell, University of California (UCLA) Emeritus Professor of Finance.
Programme
The Global Outlook 2022
”Against a backdrop of significant economic and market uncertainty, our panel of international experts from valuation, finance, economics, monetary policy and politics will look at the latest data and trends and offer their thoughts on the global macroeconomic outlook.
Panellists
Megan Greene
Global Chief Economist, Kroll. Financial Times columnist.
Jesper Koll
Leading Japan economist. Former Chief Economist, Bank of America Merrill Lynch, Japan.
Alistair Darling
IVSC Chair. Former UK Chancellor of the Exchequer.
Kiran Swinglehurst
Managing Director, Liquidity Risk, CPP Investments.
Ranjit Singh
Chief, Global Markets, IMF. Former Deputy Chair, IOSCO.
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Analysing Intangible Assets
”Intangible assets are increasingly seen to be driving enterprise value creation across sectors and industries. Challenges and deficiencies in the public reporting frameworks underpinning these intangibles are well-rehearsed. However, at the boardroom level, these assets are evaluated either in the form of a valuation or by analysing the output of the expensing. This webinar will explore the approach companies take to understand and evaluate intangibles and how they analyse the return on the cash outflows towards intangibles.
Panellists
Henk Oosterhout
Managing Director, Valuation Advisory, Kroll
Jeremy Stuber
Global Equity Research Analyst, Newton Investment Management. Chair, Corporate Reporting Users Forum (CRUF).
kevin Prall
Managing Director, EY. IVSC Business Valuation Technical Director.
Ralf Schmeitz
SVP Group Controller at Royal DSM NV
Dominique Carouge
Former Deputy CFO, Sanofi. Former CFO, Hoechst Marion Roussel, Australia.
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Valuation of Digital Assets
”Digital assets including non-fungible tokens (NFTs) and currency tokens have proliferated in recent years. At the same time, new technologies, exchanges and digital ledgers are making these assets more accessible to investors and other entities. But how do we approach these from a valuation perspective? Our expert panel will discuss this growing asset class and consider the implications for valuers and valuations.
Panellists
David Larsen
Managing Director, Alternative Asset Advisory, Kroll
Olwyn Alexander
Global Asset and Wealth Management Leader, PwC
John Ward
Managing Director, Kroll
Rommel Johnson
Joint Leader, EY Financial Services Valuation, Modeling & Economics (VME), London
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Valuation, Inflation & Cost of Capital
”Inflation has recently reached multi-decade highs in several countries and regions. Inflationary pressures are not limited to emerging markets, and many developed economies are struggling to keep inflation under control.
In this context, how is the current inflation environment impacting valuations and cost of capital assumptions? Do we need to reconsider long-term growth assumptions in the terminal year of discounted cash flow (DCF)-based valuations? What lessons can we draw from previous business cycles, and how might things be different this time around considering Russia’s war on Ukraine? What other adjustments need to be made to the valuation, and how relevant are these adjustments in hyperinflationary economies?
Panellists
Carla Nunes
Managing Director, Office of Professional Practice (OPP), Kroll
Bradford Cornell
Emeritus Professor of Finance, UCLA
Alexandre Pierantoni
Managing Director and Head of Brazil Corporate Finance, Kroll
Patrick El Kozah
IAS 20 expert, International Standards Group, KPMG
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The Evolution of ESG in Valuation
”Environmental, social and governance (ESG) issues have catapulted up the corporate agenda in recent years, driven in part by the Covid-19 pandemic and company considerations around sustainability, diversity, human capital, corporate purpose and governance. Today, ESG is a key area of focus for a range of stakeholders, particularly in the boardroom. In the background, a catalogue of best practices, disclosure requirements and ESG ratings are under development, all of which seek to improve standardisation around the reporting of ESG. A critical element in the continued evolution of the ESG agenda is the ability to accurately, consistently and quantitatively measure the value of its components. The IVSC is leading efforts to reflect these needs within the International Valuation Standards (IVS). In a recent survey, the IVSC explored the extent to which ESG has become integrated in the valuation process for valuers, businesses as users of valuations, and for investors. This webinar looks over the finding of that survey and considers the future role of valuation in unlocking the potential of ESG strategies.
Panellists
Ben Elder
Global Head of Valuation, RICS
Richard Stewart
Partner, PwC & IVSC Business Valuation Board
Rahul Shukla
Managing Director, Alternative Asset Advisory, Kroll
Becky Gaughan
Head of Quality and Risk Management - Europe, CBRE