M&A in a Post-Covid-19 World: A Due Diligence, Valuation & Financial Reporting Perspective

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Description

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Merger and Acquisition (M&A) deals are roaring back as Executives begin to plot the Post-Covid-19 future.
Global merger and acquisition activity clawed its way back from near-decade lows in 2020, facing down the Covid-19 pandemic with a string of large transactions in the second half of the year that dealmakers hope will continue.

In today’s environment, more companies that want to continue growing are doing so through inorganic measures. Many companies in the region, however, are not experienced in the M&A - including identifying suitable targets, conducting due diligence, performing valuation analysis, negotiating and closing a deal and integrating the new business.

In this workshop, we will focus on three key aspects, namely financial due diligence, valuation analysis and financial reporting. When due diligence is performed effectively, it may uncover facts that dramatically change the buyer’s view and may possibly avert a disastrous deal. So, how does one identify key risks in a strategic transaction? Price is almost always the key driver of every transaction – too high a price, and even the best deal will end up destroying value. How does the acquirer bridge valuation gaps? How does the acquirer account for such business combinations?

Programme Outline

• Current M&A landscape
• Rationale of M&A
• Overview of the acquisition process
• Appropriate basis of value
• Commonly used valuation methods for M&A
• Discounted cash flow method
• Comparable transaction method
• Estimating an appropriate discount rate
• Consideration of revenue and cost synergies
• Types of due diligence and staffing the team
• Key differences between audit and financial due diligence (“FDD”)
• Typical scope of a FDD
• Implications of FDD findings
• Purchase consideration and payment structure
• Accounting for acquisitions under SFRS(I) Business Combinations

Participants are encouraged to bring along their financial calculators or laptops with Excel installed.

This workshop qualifies for 1.0 CPE hours in Financial Reporting Standards and Pronouncements (Category 1) and 6.0 CPE Hours in Others

What you will learn

At the end of this workshop, you will:

• Learn what essential procedures should be covered in a financial due diligence needed to unravel key risks in an M&A transaction
• Apply commonly used valuation methods to ensure M&A transactions are priced appropriately
• Understand potential complexities in accounting for business combinations.

Target Audience

• CEOs and CFOs
• Corporate finance professionals
• Private equity firms
• M&A advisors
• Investment bankers
• Business valuers
• Lawyers involved in strategic transactions

Expert Speaker

Ong Woon Pheng

Woon Pheng is a Chartered Accountant of Singapore (CA Singapore), Fellow Member of Association of Chartered Certified Accountants (FCCA), Chartered Financial Analyst (CFA), Chartered Valuer & Appraiser (CVA), International Certified Valuation Specialist (ICVS), Certified Fraud Examiner (CFE) and Accredited Tax Practitioner (ATP Income Tax).

Woon Pheng specialises in business valuation, valuation for FRS (including purchase price allocation, impairment review and valuation of intangible assets and financial instruments), financial and tax due diligence, divestment of business, mergers and acquisitions (M&A), fraud investigation, assessment of damages, expert witness and liquidation.

In addition to his various roles in the Singapore CA Qualification, Woon Pheng is also an adjunct faculty of Singapore University of Social Science ( SUSS ) where he teaches business valuation, financial reporting and corporate finance related subjects . In 2015, he was conferred the Teaching Merit Award by SUSS. He serves as a member in ISCA’s Investigation and Disciplinary Panel and the ACCA Singapore Professional Expert Forum. He is also a regular speaker on Business Valuation in various conferences.