Karolina Calhoun, CPA, ABV, CFF

Senior Vice President

Karolina Calhoun, Senior Vice President, has been involved with hundreds of valuation and litigation support engagements in a diverse range of industries on local, national and international levels. Prior to joining Mercer Capital, Karolina was a Senior Auditor at EY (Ernst & Young) in their Audit and Assurance Services practice.

As a member of Mercer Capital’s Litigation Group, she provides valuation and forensics services for family law, gift & estate planning, commercial litigation, transactions (M&A), and further matters related to privately held businesses, dissenting shareholders, intellectual property, personal goodwill, etc. With her forensics accreditation, she provides economic and financial damages studies, asset tracing, lost profits, and lifestyle analyses.

Karolina also provides financial reporting and valuation analyses related to mergers & acquisitions, intangible assets, private equity portfolio companies, contractual agreements, and complex capital structures. She has experience in valuing a wide variety of intangible assets such as patents, customer lists, trademarks, and contracts. These engagements have been conducted for the purposes of mergers & acquisitions, buyouts, financial reporting, estate and gift taxes, allocation of purchase price, litigation support, shareholder dissent, buy-sell agreements, dissolutions, financing, and business planning.

Karolina served as the 2020 and the 2021 Valuation Chair of the AICPA’s Forensic and Valuation Services Conference and is a member of the AICPA’s CFF Exam Writing Task Force. In 2018, she received the Forensic and Valuation Services (FVS) Standing Ovation award, presented by the AICPA to professionals for significant contributions in their specialty areas and in their communities. Karolina served as the President of the Memphis Chapter of TSCPAs (2019-2020).

In February 2022, Karolina joined the American Academy of Matrimonial Lawyers (AAML) Foundation, Forensic and Business Valuation Division. In addition, she has served on the AICPA Business Valuation Committee since 2022.

Karolina is also a presenter of various valuation and forensic topics to attorneys, accountants, and business professionals for the purpose of educating the public.

Professional Memberships

  • The American Institute of Certified Public Accountants
    • Forensic and Valuation Services Section
      • Business Valuations Committee (May 2022 to present)
      • CFF Exam Writing Task Force (2019 to 2021)
      • Forensic and Valuation Services Conference Planning Committee (2018 to 2022)
        • 2020 & 2021 Conference Chair – Valuation
  • American Academy of Matrimonial Lawyers (AAML) Foundation, Forensic & Business Valuation Division (February 2022 to present)
  • The Tennessee Society of Certified Public Accountants
    • Memphis Chapter
      • Board of Directors (2015 to 2021)
      • President (2019 to 2020)
  • Memphis Bar Association
    • Associate Member
  • Memphis Collaborative Alliance – Financial Neutral (2018 – 2023)

Professional Designations

  • Certified Public Accountant (Tennessee State Board of Accountancy)
  • Accredited in Business Valuation (The American Institute of Certified Public Accountants)
  • Certified in Financial Forensics (The American Institute of Certified Public Accountants)


  • Rhodes College, Memphis, Tennessee, (M.S., Accounting, 2010)
  • Rhodes College, Memphis, Tennessee, (B.A., Business Administration and Economics, 2009)