AICPA Extends Comment Period for Business Valuation Standards

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The American Institute of Certified Public Accountants (AICPA) announced on Friday, July 22, 2005, that the comment period on proposed Business Valuation Standards has been extended to September 30, 2005. The proposed standards would provide AICPA members performing business valuation service with guidelines for developing valuation conclusions and reports.

Once finalized, all CPA members would be required to comply with the standards when performing valuation services in many different circumstances, including:

  • Mergers and Acquisitions
  • Litigation
  • Tax
  • Financial reporting

The standards will provide guidelines for valuation of a business, business ownership interest, security or intangible asset in the unique context of a CPA's practice. The Exposure Draft of Proposed Business Valuation Standards can be downloaded from the AICPA's Business Valuation and Forensic and Litigation Services Community.

Comments are specifically requested on the following issues:

  • Interaction with other standards
  • Documentation of understanding with the client
  • Use of specialists
  • Post-valuation events
  • Oral valuation reports
  • Standard reports
  • Glossary

Comments can be e-mailed to [email protected]


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