Provident Valuation Professionals, Inc.
PO Box 1120
Lake Forest, CA 92609-1120
PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact: Thomas Kalajian
Tom@ProvidentValuationProfessionals.com
(949) 716-4875 | (800) 404-6920�
Monday, October 26, 2009
Orange County Business Appraiser Is Among First to Earn Ground-breaking Advanced Designation
New Credential Seen as a Welcome Relief for Safeguarding the Public Good
Lake Forest, CA (Monday, October 26, 2009) – Business appraisal specialist Thomas Kalajian is the first professional in private practice in Southern and Central California to earn the prestigious new senior business appraisal designation, Accredited in Business Appraisal Review (ABAR), awarded by the Institute of Business Appraisers.
The IBA is the nationally-recognized pioneer organization of business appraisal in the U.S. Less than 25 applicants have earned the ABAR designation worldwide, which is the only credential that specifically qualifies its holders to issue an opinion on the credibility of appraisal reports prepared by other appraisers in accordance to newly standardized appraisal review practices.
Appraisal organizations quietly acknowledge that far too many questionable appraisal reports are accepted at face value, some prepared by credentialed appraisers. No state licensing exists for business appraisers, so the public is not protected from unsupportable valuations prepared by non-credentialed CPAs, business brokers and opportunists on the internet.
“The ABAR is a breakthrough of enormous implications for upgrading the credibility of business appraisals,” says Kalajian. “Most people can’t tell if appraisals are reliable,” he continued, “so they had unknowingly based their irrevocable decisions on faulty appraisals. Now we can help by detecting uncertainties before they harm the public.” Howard Lewis, Executive Director of the IBA explains, “ABARs are considered the expert’s expert.”
That safety net is especially critical now that some IRS appraisal specialists have qualified as ABARs. Two of Kalajian’s former ABAR classmates are now IRS ABARs, one working in the Laguna Niguel District. “You don’t want your appraisal challenged by an IRS ABAR if your report is not up to par,” he continued. “It could be an invitation to disaster, including sanctions and penalties against the appraiser,” he warned.
To be eligible, ABAR candidates must currently hold a valid business appraisal designation, must be a member in good standing of the IBA and have earned a four-year college degree or equivalent. They must complete a rigorous training program, pass a qualifying examination, submit their qualifying Review Report for acceptance by the ABAR Qualifications Review Committee, and undergo a reference check and a due diligence process.
The ABAR designation confers serious responsibilities and authority to its holders, so the IBA instituted a unique safeguard. It is the only appraisal designation that requires candidates to sign an oath before receiving their credential.
Mr. Kalajian is a multi-disciplined business appraiser. He held a CPA license for 26 years, is a past member of Mensa, and holds a designation of Accredited Valuation Analyst (AVA) issued by the National Association of Certified Valuation Analysts, is a California registered tax professional (CRTP) conferred by the California Tax Education Council, and holds a Bachelor of Science degree in Business Administration. He is also a qualified profit improvement specialist, one of the early graduates of a full-emersion business development training program, the Accountants Boot Camp.
His community involvement includes over seven years as a guest lecturer at Chapman University and five years as a founding member of the Executive Committee of the Armenian Festival of Orange County. He was also the event coordinator of the most successful continuing membership drive for the Orange County PBS affiliate, KOCE-TV, involving their courageous rebroadcasts of Armenian Genocide documentaries, starting in early 2007.
His appraisal firm, Provident Valuation Professionals, is based in Lake Forest, Orange County, California. Mr. Kalajian specializes in non-litigious appraisals, appraisal review and legal consulting engagements for small- to medium-sized privately-held business interests. Information about his firm, contact information, and information about detecting questionable business appraisals is available at the firm’s web site, www.ProvidentValuationProfessionals.com.
Orange County financial services specialist Thomas Kalajian, CRTP, AVA, ABAR, was awarded the prestigious advanced business appraisal credential, Accredited in Business Appraisal Review, ABAR, the first of its kind, and currently one of less than 25 in existence. It is the first awarded to a private practice professional in Central and Southern California. The ABAR was pioneered by the first national business appraisal organization, the Institute of Business Appraisers.
Certificate conferring upon Thomas Kalajian the advanced business appraisal designation of Accredited in Business Appraisal Review by the Institute of Business Appraisers on October 6, 2009. Among other credentials, Mr. Kalajian holds the AVA designation from the National Association of Certified Valuation Analysts, is a former CPA and a member of Mensa.
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