Each appraisal organization has business valuation standards that apply to its members. Standards can generally be classified as related to the developmental and reporting. The different standards are posted online at:
- American Institute of Certified Public Accountants, Statement on Standards for Valuation Services No. 1: AICPA Standards
- American Society of Appraisers, ASA Business Valuation Standards
- Institute of Business Appraisers, Business Appraisal Standards
- National Association of Certified Valuation Analysts, NACVA Professional Standards
- Appraisal Society, Uniform Standards of Professional Appraisal Practice Standards 9 and 10
The standards are not uniform. The appraisal oranizations did agree to uniform defiinitions of certain terms, the International Glossary of Business Valuation Terms. When the AIPCA published its valuation standards in 2008, it added additional definitions. While the details in the standards are different, the objectives are the same: to ensure that appraisers do sufficient work to support their work, and that the work be reported in a manner that provides the user with enough information to understand.
© 2009 Florida Business Valuation Group
