Penny Lutocka


…is a Principal with Houlihan Valuation Advisors, a national firm of valuation and capital consultants.  Penny is a former Partner of a leading CPA firm based in Indianapolis, Indiana.  Penny is a Certified Public Accountant and a Certified Fraud Examiner.  She holds the “Accredited in Business Valuation” (ABV) designation from the American Institute of Certified Public Accountants and is an “Accredited Senior Appraiser” (ASA).   She received her Bachelor of Science degree from Ball State University.   Her experience consists of business valuations in various industries including retail, construction, insurance, health care, funeral services, manufacturing and restaurants; fraud prevention, detection and investigation which include uncovering fraud schemes, assessing damages and developing safe guards to prevent fraud; income tax compliance and planning for both individuals and businesses; estate planning; strategic planning; and audits, reviews and compilations of financial statements.  She has also testified as an expert in Indiana courts.

            She has written articles for the following publications:  Inside Indiana Business, the Matrimonial Strategist, Family Lawyer, HR News, the Indianapolis Star and the Morgan County Business Leader.  Topics include tax affecting of pass through entities, single period capitalization method, framework of business valuation standards, identity theft, the warning signs of fraud, tax planning and financial planning.  Penny has also made presentations to various organizations on topics such as fraud prevention and strategic planning.

            Penny is a member of the following professional organizations:   American Institute of Certified Public Accountants; Association of Certified Fraud Examiners; Indiana Chapter of Certified Fraud Examiners; American Society of Appraisers and the Indiana CPA Society.

             She is also a member of Leadership Indianapolis, FBI Citizen’s Academy Alumni, Plainfield Christian Church and the Ball State University Cardinal Varsity Club.  She currently serves as the Treasurer for the National Association of Women Business Owners Foundation and is the former Treasurer of the National Association of Women Business Owners (NAWBO) Indianapolis chapter.  She is also on the Central Indiana Women’s Business Center Council.  Penny is married to Scott and they have two children, Allison and Daniel.