Some months ago I wrote an article that discussed how the valuation profession was fragmented globally (Value added, August 2011) and, as a consequence, found it more difficult to engage politicians and financial regulators with a single voice.

I am returning to this theme following a recent speech by Paul Beswick, the deputy chief accountant of the US Securities and Exchange Commission (SEC), to the American Institute of Certified Public Accountants (AICPA) annual conference, which directly challenged the valuation profession to organise itself more effectively.