2026 ASA Spring Fair Value Conference

More About This Event

ASA Member Price: $275 | Non-Member: Price $375

Thursday, May 7, 2026, Time: 9:00am - 5:00pm EDT 

Where Fair Value Meets the Market: Insights for Today’s Deals

In an environment defined by shifting capital markets, heightened scrutiny, and evolving deal structures, understanding how fair value aligns with real-world market activity has never been more critical. Join valuation professionals from across the country for a focused and timely program designed to explore the intersection of fair value principles and today’s deal environment.

This year’s conference will feature:

• State of the Private Equity Market — A timely look at current deal activity, valuation trends, and what’s driving today’s value creation strategies.
• Big Four Panel Discussion — Insights from senior valuation leaders on emerging issues, common challenges, and where fair value is headed next.
• Allocating Security Value for Early-Stage Companies — Practical approaches and considerations for valuing complex capital structures and venture-backed investments.
• Cheap Stock Guide Discussion — What’s new, what matters, and how to apply updated guidance in real-world valuations and reporting.
• Enterprise Value Estimation — A deeper dive into enterprise value concepts, applications, and common pitfalls across valuation assignments.

With sessions led by top professionals from firms including Kroll, Deloitte, EY, PwC, KPMG, Valuation Research Corporation, Grant Thornton, Stout and KKR, attendees will gain both technical knowledge and practical strategies to apply immediately in their work.

Why Attend?

• Earn up to 7.5 CPE credits and gain actionable takeaways you can apply immediately. You’ll also:
• Hear directly from valuation leaders and contributors shaping practice
• Stay ahead of evolving guidance and market dynamics impacting fair value
• Strengthen your judgment on complex, high-scrutiny valuation topics

NASBA and Continuing Professional Education (CPE) Credit

ASA 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 the 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.learningmarket.org/.

CPE Credit: Up to (7.5) CPE credits
Program Level: Advanced
NASBA Knowledge Type: Accounting & Auditing, Specialized Knowledge
Delivery Method: Group Live and Group Internet-Based
Prerequisites: None
Advanced Preparation: None
Policies: ASA's Refund and Cancellation Policy and ASA's Complaint Resolution Policy

Conference Chair

William Johnston, ASA | Empire Valuation Consultants

Conference Sponsors

9:00am - 9:10am
Welcome/Introductions
Bill Johnston, ASA | CEO & Senior Managing Director | Empire Valuation Consultants

9:10am - 10:40am
Big Four Panel - Insights from Senior Valuation Leaders
Myron Marcinkowski, ASA | Managing Director | Kroll LLC
Manish Choudhary, ASA, CFA | Partner | Deloitte
Mike Moskowitz, CFA | Managing Director | EY
Alicia Grosman | Managing Director | PricewaterhouseCoopers
Martin Mazin | Partner, Valuation & Business Modeling Services | KPMG

Hear from Big Four valuation leaders about current trends and challenges they are experiencing.

10:40am - 11:00am
Break

11:00am - 12:15pm
Cheap Stock Guide Discussion - What Really is New and Matters
Oksana Westerbeke | Partner, Valuation | Grant Thornton

Another new guide is out! This session will discuss key findings and what will really matter to you going forward (not just seconary market transactions!)

12:15pm - 1:15pm
Lunch

1:15pm - 2:45pm
NO-PM: Limitations Using a Traditional OPM for VC Investments and Suggested Alternatives
Ioannis Michopoulos | Managing Director | Stout
Brendan Smith | Managing Director | Stout

Anyone valuing VC investments understands the challenges of using an OPM to value the assets. Stout has analyzed data for over 2,000 VC investments and can review problems using an OPM and suggested alternatives. Following with be an open discussion and Q&A about the findings.

2:45pm - 3:30pm
State of Private Equity and the Vanguard of Value Creation
Kevin Murphy | Director | KKR

Kevin Murphy of KKR will explore current PE trends and how leading private equity platforms are reshaping value creation by putting people and ownership at the center of their investment thesis. Drawing on KKR’s experience implementing broad-based employee ownership across dozens of portfolio companies and its partnership with initiatives like Ownership Works, he will discuss how shared equity, aligned incentives, and intentional culture-building can drive engagement, productivity, and long-term enterprise value.

3:30pm 3:45pm
Break

3:45pm - 5:00pm
EV or not EV, That is the Question
Sean Woodward | Managing Director | VRC (Valuation Research Corporation)
Anthony Pumphrey, CFA, ASA | Managing Director | VRC (Valuation Research Corporation)

Enterprise Value is prevalent in so many valuation assignments - but is not always straightforward. Hear insights and thoughts about how to approach this very important valuation measure.

5:00pm - 6:00pm
Cocktail Reception

*Agenda subject to change.

Upon completion of this course, participants will be able to:

• Analyze current private equity market conditions and assess how deal trends and capital flows impact fair value measurements.
• Evaluate emerging valuation challenges and best practices identified by leading national firms and apply those insights to your own engagements.
• Apply appropriate methodologies for allocating value across complex capital structures in venture-backed and early-stage companies.
• Interpret key updates to the AICPA Cheap Stock Guide and incorporate the latest guidance into defensible valuation analyses.
• Develop a more refined approach to estimating enterprise value by understanding key inputs, assumptions, and common areas of scrutiny.

Conference Location

(For In-Person Registrants)

EisnerAmper
733 Third Avenue, New York, NY 10017

*Note: ID is required to enter the building.