Managing Partner , Seigneur Gustafson LLP
Ronald L. (Ron) Seigneur is managing partner of Seigneur Gustafson LLP, based in Lakewood, Colorado, where he specializes in business & intellectual property appraisal, economic damages, financial forensics, professional services firm consulting and taxation.
Ron has significant experience working with complex valuation, commercial damages, forensic accounting, and related litigation support matters, with significant experience as a testifying expert in numerous jurisdictions. Ron has served as court appointed Special Master, trustee, receiver and arbitrator. As a co-author of one of the leading treatises on business valuation, he frequently speaks and writes on valuation related issues. He is a Certified Valuation Analyst (CVA) with the National Association of Certified Valuation Analysts (NACVA), a Senior Appraiser in business valuation (ASA) with the American Society of Appraisers, and holds the AICPA specialty designations of Accredited in Business Valuation (ABV), Certified in Financial Forensics (CFF), and Chartered Global Management Accountant (CGMA). Ron is also a member of the Association for Corporate Growth and Colorado Association of Business Intermediaries, working closely with business intermediaries, bankruptcy trustees and other advisors in merger & acquisition transactions, receiverships, ESOP plans and related succession planning strategies. In 2014, Ron was inducted as a charter member of the American Academy of Matrimonial Lawyers Business Valuation & Forensic Services Division.
Ron is co-author of Reasonable Compensation: Application and Analysis for Appraisal, Tax and Management Purposes, published by Business Valuation Resources, co-author of Financial Valuation: Applications and Models, Fourth Edition, a 1300+ treatise on business valuation published by John Wiley & Sons, and co-author of The Cannabis Accounting and Appraisal Guide, published by LuLu and due out in May 2018. Ron is a past chair of the AICPA ABV Credential Committee, NACVA Professional Standards Committee, and has been a member of the AICPA Business Valuation Committee, and the AICPA Consulting Services Executive Committee. Mr. Seigneur was the 2009-10 chair of the Board of Directors of the Colorado Society of Certified Public Accountants and was inducted in 2006 as a member of the AICPA Business Valuation Hall of Fame. Ron is a fellow of the College of Law Practice Management, and is an Adjunct Professor at the University of Denver, Sturm College of Law and Daniels College of Business, where he teaches leadership and business appraisal courses.
Ron has a Bachelor of Arts in Hotel, Restaurant and Institutional Management from Michigan State University, and a Master of Business Administration in Corporate Policy and Accounting from the University of Michigan.
Cannabis Industry Expertise
Ron has been providing professional services to the cannabis industry since 2009 in the areas of income tax planning & compliance, and business and intellectual property appraisal. His firm provides on-going tax compliance services to a select group of clientele that includes state and federal income tax planning and compliance, sales tax compliance and consulting financial accounting protocols and related internal controls.
Cannabis appraisal and forensic accounting related engagements include:
• Appraisal of license rights for cannabis licenses in Clark County (Las Vegas) and Sparks County (Reno), Nevada
• Appraisal of cannabis cultivation and medical/recreational dispensaries in various jurisdictions in Colorado and other states for merger and acquisition purposes
• Financial forensics and economic damages analysis for a $50 million annual revenue multilocation cultivation and dispensary operation in Colorado, including expert testimony
• Economic damages analysis and opinion for a 100,000-square foot state of the art greenhouse and extraction facility
• Appraisal of an iconic Colorado cultivation and dispensary operation for litigation purposes with a value opinion for a minority interest in the 8 figures
• Appraisal and forensic accounting services for a cultivation and multi-location medical dispensary operation in Arizona for dissolution of marriage purposes
Ron has also published articles on cannabis appraisal and provided cannabis appraisal education. Published articles include:
• Valuation Strategies, March/April 2016, The Evolving Cannabis Industry: Risk Assessment and Valuation, Co-author with Stacey Udell
• Business Valuation Update, Nov 2016, Coping with the Challenges of Valuing a CannabisRelated Business
• Financial and Litigation Expert Newsletter, May 2015, Business Appraisal within the Cannabis Industry: The ultimate appraisal challenge?
• BVR What It’s Worth, 2016, Value and Business - Challenges in the Budding Cannabis Industry, Editor
Cannabis appraisal continuing education related presentations include:
• Colorado Society of CPAs (Conference co-chair) – Denver, CO, November 5, 2015 & August 16, 2017 • CLE of Colorado (Conference chair) – Denver, CO, November 5, 2015, November 10, 2016 and February 21, 2018 • ASA National Business Valuation Conference - Boca Raton, FL, September 16, 2016 • New York Society of CPAs – New York City, December 16, 2016 • ASA Philadelphia Chapter – Philadelphia, PA, May 3, 2017 • New Jersey Society of CPAs – Edison, NJ, September 28, 2017 • Texas Society of CPAs – Houston, TX, November 3, 2017 • AICPA Forensic and Valuation Services Conference – Las Vegas, November 11, 2017 • World Cannabis Conference, Pittsburgh, PA, April 13, 2018 • Cannabis Investment Summit, virtual program, March 31, 2018