Dec 08 2015
This month, we caught up with Wayne Fjeld, Senior Manager, Valuation Services at Moss Adams LLP, to find out what’s going on in the consulting world.
IBISWorld: What challenge(s) do you and your company or department face right now?
Wayne Fjeld: I do a lot of work related to employee stock ownership plans (ESOP), where the ESOP buys stock in the sponsoring company (employer). The projections used in our valuations play a critical role in the determination of value. One of the challenges we’re facing is that these level projections are under increased scrutiny by the Department of Labor, which oversees ESOPs.
IW: How does/might IBISWorld help you overcome this challenge?
WF: We use the industry data published by IBISWorld to perform due diligence on a company’s industry, including the underlying factors that can have a significant influence on that industry and its outlook. We also compare the industry’s expected growth rates as published by IBISWorld to those of our subject company, using this comparison to gauge the reasonableness of the projections.
IW: What do you foresee happening in your industry within the next year?
WF: The valuation industry is facing increased competition, which is driving automation of some parts of the process. Some of these can and should be automated, but the subjective elements of the process won’t go away; those will continue to demand the expertise of seasoned professionals with credible data sources to support the analysis.
IW: Tell us something interesting about yourself (hobbies, experiences, travel, etc.)
WF: Our clients are located all over the United States. I have the privilege of being able to travel to many parts of the country when we’re conducting our due diligence engagements. Taking an extra bit of time to explore the local surroundings before heading to the airport has been very enjoyable.
Moss Adams LLP is an accounting and consulting firm that also provides a range of advisory services, including business valuations.