Gatta love AI š According to the AICPA, a quality of earnings (QofE) engagement is classified as a consulting service, not an attestation service. [1<https://www.google.com/goto?url=CAESjQEB6zswFXMFYrnsR7-Y1EJicnS1ZKSzTIXr2gSr...>, 2<https://www.google.com/goto?url=CAESjgEB6zswFeXOwHPUfILx-E8UO26wd2dqe5nSZEtG...>] Key Characteristics & Governing Standards * Governing Standards: It is performed under the AICPAās Statement on Standards for Consulting Services No. 1 (codified as CS Section 100). [1<https://www.google.com/goto?url=CAESlQEB6zswFXakpY42scSme_fhqrqo0e5tGED0aZVN...>, 2<https://www.google.com/goto?url=CAESjgEB6zswFeXOwHPUfILx-E8UO26wd2dqe5nSZEtG...>] * No Formal Assurance: Because it is a consulting engagement rather than an attestation engagement, the CPA does not issue an opinion, conclusion, or formal assurance on the financial statements or assertions. [1<https://www.google.com/goto?url=CAESawHrOzAVq9Mc6ZSsubsKr2kNFBzCi8qVMRrENPKs...>] * Scope Flexibility: Unlike highly structured attestation engagementsāsuch as audits or agreed-upon procedures (AUP) governed by Statements on Standards for Attestation Engagements (SSAE)āa QofE study provides total flexibility. The practitioner and the client can freely determine the approach, depth, and specific financial metrics (like normalized EBITDA) to analyze based on the transaction's needs. [1<https://www.google.com/goto?url=CAESawHrOzAVq9Mc6ZSsubsKr2kNFBzCi8qVMRrENPKs...>, 2<https://www.google.com/goto?url=CAESjQEB6zswFXMFYrnsR7-Y1EJicnS1ZKSzTIXr2gSr...>, 3<https://www.google.com/goto?url=CAESlQEB6zswFXakpY42scSme_fhqrqo0e5tGED0aZVN...>] Rob Levis, Grosdidier & Associates, LLC Main: 719.226.3702 | Cell: 719.651.7295 www.levisconsult.com<http://www.levisconsult.com/> From: Dr. Michael Crain via Listserv <listserv@ercllc.net> Sent: Friday, September 25, 2026 7:18 AM To: Karen Kaseno <kkaseno@gagroup.com> Cc: Ron Seigneur <ron.seigneur@cpavalue.com>; Katie Gilden <Katie@fiskeco.com>; ERC List Serve <listserv@ercllc.net> Subject: [Listserv] Re: New SBA rules ļ»æAnd is this an attestation service or consulting service (as AICPA defines them)? Dr. Michael A. Crain, CPA, CFA, ABV, CFE On Sep 23, 2026, at 8:59āÆPM, Karen Kaseno via Listserv <listserv@ercllc.net<mailto:listserv@ercllc.net>> wrote: ļ»æ Does anyone here already do this work? What specifically needs to be done? Karen PLEASE NOTE- The Kaseno CPA Firm, LLC was acquired by GA Group on August 17, 2026. All the same people- all of the same great serviceājust a new name! [Image] www.gagroup.com<http://www.gagroup.com/> [Image] <http://www.linkedin.com/company/great-american-group> Karen J. Kaseno, CPA, CVA, CFE, MAFF Managing Director Litigation Support Direct: (760) 753-7515 Email: kkaseno@gagroup.com<mailto:kkaseno@gagroup.com> 445 Marine View Avenue, Suite 300 Del Mar, CA 92014 <Image.png> <Image.png> ________________________________ From: Ron Seigneur <ron.seigneur@cpavalue.com<mailto:ron.seigneur@cpavalue.com>> Sent: Wednesday, 23 September 2026 10:35:04 To: Katie Gilden <Katie@fiskeco.com<mailto:Katie@fiskeco.com>>; Karen Kaseno <kkaseno@gagroup.com<mailto:kkaseno@gagroup.com>>; ERC List Serve <listserv@ercllc.net<mailto:listserv@ercllc.net>> Subject: RE: New SBA rules The SBA should be releasing one or more technical bulletins very shortly to clarify who will be qualified to do Q of Es for SBA lending purposes, effective Oct 1, and what must be covered. From what I learned yesterday from a panel I was on including three SBA lenders I do not perceive this to be a high risk service that might be a nice service line for us BVFLS folks to focus on if we have relationships with biz brokers and SBA lenders. The ASA conference next week, which can be attended virtually for either 2 days or one day has a nice session on doing Q of E studies btw. https://www.appraisers.org/asa-international-conference Just a piece of trivia Live Oak Lending is now fulfilling 80% of all SBA loans nationally. With Wells Fargo and Key Bank a distant 2nd and 3rd. Ron V-card<http://cpavalue.com/cfwebstore/email/Ronald%20L.%20Seigneur.vcf>| Web site<http://www.cpavalue.com/> | Bio<http://www.cpavalue.com/cfwebstore/index.cfm?fuseaction=feature.display&feat...> T 303.980.1111 D 720-665-9000 T 877.775.2676 F 303.308.6969 www.cpavalue.com<http://www.cpavalue.com/> <image003.jpg> Ron Seigneur MBA CPA/ABV ASA CVA Partner Ron.Seigneur@cpavalue.com<mailto:ron.seigneur@cpavalue.com> Seigneur Gustafson LLP 940 Wadsworth Blvd, Ste 200 Lakewood, Colorado 80214 Beyond the Number$ Click here<https://cpavalue.sharefile.com/r-rae8c2e26109748438e5529327a88b0a6> to send a secure file Thought for the quarter: āI used to have a handle on life, but it brokeā ā Anonymous Last quarters thought: "Choose to be optimistic, it feels better." ā Dalai Lama <image004.png> <image005.jpg> <image006.png> <image007.jpg> <image008.png> One of Forbes Top CPAs in Valuation Services in America 2025 and Top CPAs in Colorado 2026 <image009.jpg> More info or to register at: https://events.aicpa-cima.com/CannabisConf From: Katie Gilden <Katie@fiskeco.com<mailto:Katie@fiskeco.com>> Sent: Tuesday, September 22, 2026 4:18 PM To: Karen Kaseno <kkaseno@gagroup.com<mailto:kkaseno@gagroup.com>>; Ron Seigneur <ron.seigneur@cpavalue.com<mailto:ron.seigneur@cpavalue.com>>; ERC List Serve <listserv@ercllc.net<mailto:listserv@ercllc.net>> Subject: RE: New SBA rules Yes ā I had heard this as well!!!! Thanks for sharing, Ron! [https://designing.webmynehost.com/emailer/New-FISK/fiske-logo.png] [https://designing.webmynehost.com/emailer/fiske/fb.png]<https://www.facebook.com/FiskeAdvisory> [https://designing.webmynehost.com/emailer/fiske/insta.png] <https://www.instagram.com/fiskeadvisory/> [https://designing.webmynehost.com/emailer/fiske/linkdin.png] <https://www.linkedin.com/company/fiskeadvisory> Katie Gilden Partner / Chief Operating Officer Direct: +1 954.361.7910 Office: +1 954.236.8600 Visit:<https://fiskeco.com/> fiskeco.com<https://fiskeco.com/> [https://designing.webmynehost.com/emailer/New-FISK/bdo.png] Please Upload files securely here<https://exchange-taxpayer.safesendreturns.com/DropOff/6wd0000f00000> CONFIDENTIALITY NOTICE: The information in this message is confidential and may be legally privileged. It is intended solely for the addressee. If you are not the intended recipient, any disclosure, copying, or distribution of the message, or any action or omission taken by you in reliance on it, is prohibited and may be unlawful. Please immediately contact the sender if you have received this message in error. Thank you. From: Karen Kaseno via Listserv <listserv@ercllc.net<mailto:listserv@ercllc.net>> Sent: Tuesday, September 22, 2026 4:36 PM To: Ron Seigneur <ron.seigneur@cpavalue.com<mailto:ron.seigneur@cpavalue.com>>; ERC List Serve <listserv@ercllc.net<mailto:listserv@ercllc.net>> Subject: [Listserv] Re: New SBA rules Well that is interesting! Thanks for passing that on, Ron! Karen PLEASE NOTE- The Kaseno CPA Firm, LLC was acquired by GA Group on August 17, 2026. All the same people- all of the same great serviceājust a new name! www.gagroup.com<http://www.gagroup.com/> <http://www.linkedin.com/company/great-american-group> Karen J. Kaseno, CPA, CVA, CFE, MAFF<http://www.linkedin.com/company/great-american-group> Managing Director<http://www.linkedin.com/company/great-american-group> Litigation Support<http://www.linkedin.com/company/great-american-group> <http://www.linkedin.com/company/great-american-group> Direct: (760) 753-7515<http://www.linkedin.com/company/great-american-group> <http://www.linkedin.com/company/great-american-group> Email: kkaseno@gagroup.com<http://www.linkedin.com/company/great-american-group> <http://www.linkedin.com/company/great-american-group> 445 Marine View Avenue, Suite 300<http://www.linkedin.com/company/great-american-group> Del Mar, CA 92014<http://www.linkedin.com/company/great-american-group> <http://www.linkedin.com/company/great-american-group> <image010.png><http://www.linkedin.com/company/great-american-group> <image011.png><http://www.linkedin.com/company/great-american-group> <http://www.linkedin.com/company/great-american-group> ________________________________ From: Ron Seigneur via Listserv <listserv@ercllc.net> Sent: Tuesday, 22 September 2026 13:27:03 To: ERC List Serve <listserv@ercllc.net> Subject: [Listserv] New SBA rules <http://www.linkedin.com/company/great-american-group> <http://www.linkedin.com/company/great-american-group> The new SBA rules effective October 1, require a Quality of Earnings analysis for all SBA loans over $3 million by a credentialed expert. They have not yet announced who will be qualified to do these, but it might require a CPA and it will be a huge opportunity for those willing to do this type of work. Stay tuned!<http://www.linkedin.com/company/great-american-group> <http://www.linkedin.com/company/great-american-group> Ron Seigneur<http://www.linkedin.com/company/great-american-group> 303.980.1111<http://www.linkedin.com/company/great-american-group> Sent from my Galaxy S21<http://www.linkedin.com/company/great-american-group> _______________________________________________ Listserv mailing list -- listserv@ercllc.net To unsubscribe send an email to listserv-leave@ercllc.net<http://www.linkedin.com/company/great-american-group>