Eva Lang points us to a recent article in the CPA Journal comparing the new AICPA Standards on Business Valuation to USPAP (Uniform Standards of Professional Appraisal Practice) and other business valuation standards. If you're in the business valuation profession, or support a firm with a business valuation practice, you should be aware of the discussion on professional standards. Thanks Eva!
Importantly, the new AICPA SSVS No 1 standard defines two business appraisal assignments:
1. Valuation assignment.
2. Calculation assignment.
The first is a traditional business appraisal where the analyst chooses all the business valuation methods.
The calculation assignment, which is a new category not discussed in USPAP, allows the client and analyst to agree upon the business valuation methods to use.
Posted by: Harry Hvostov | February 21, 2008 at 10:32 PM