What qualifications does Aplus require of the third-party valuation specialist engaged by the Partnership, based on their credentials and experience?

Our audit procedures related to the estimation of the fair value of the acquired property and equipment included the following procedures, among others. We tested the effectiveness of controls relating to management's review of the valuation methodologies and assumptions applied by the third-party valuation specialist. In addition to testing the effectiveness of controls, we also performed the following:

• Utilized an internal valuation specialist to evaluate:

Table of Contents Index to Financial Statements

• the qualifications of the third-party valuation specialist engaged by the Partnership based on their credentials and experience,
• the process used by management to develop the estimate, including valuation methodologies and assumptions used by the third-party valuation specialists and whether they were acceptable for the underlying assets and applied correctly,
• the useful lives utilized by the third-party valuation specialist by comparing to industry standards and estimates,
• the appropriateness of the replacement cost, by confirming the inputs utilized were reasonable for the underlying assets,
• the estimates of fair values for assets which were valued based on comparable market data and the appropriateness of the replacement costs, by performing independent market research and analyses.

Source: Item 22 — CONTRACTS (FDD page 68)