Since 2017 and annually thereafter, the NACVA Standards Board has issued and updated authoritative resources for the global business valuation and financial forensic profession, including the Business Valuation/Appraisal Standards Comparison Chart (“Domestic Chart”) and the International Business Valuation/Appraisal Standards Comparison Chart (“International Chart”). In June 2022, the NACVA Standards Board issued its updated Domestic Chart and International Chart for its NACVA | GACVA members and other business valuation professionals.
The updated International Chart provides an up-to-date comparison of the respective business valuation standards promulgated by NACVA to the International Valuation Standards Council (IVSC), to the Royal Institution of Chartered Surveyors (RICS), and to the CBV Institute (formerly, the Canadian Institute of Chartered Business Valuators).
The intent of the International Chart is to provide a general reference tool for the valuation analyst involved in international business appraisals. Similar to the Domestic Chart, the International Chart identifies references to these international professional organizations’ standards, guidance, or other treatises.
Similarly, the updated US-Domestic Chart provides a comparison of the respective business valuation standards promulgated by the National Association of Certified Valuators and Analysts (NACVA), to the Uniform Standards of Professional Appraisal Practice (USPAP), to the American Society of Appraisers (ASA), and to the American Institute of Certified Public Accountants—Statement on Standards for Valuation Services (AICPA—SSVS).
The intent of the Domestic Chart is to provide a general reference tool for the valuation analyst involved in business appraisals. The Domestic Chart identifies references to these professional organizations’ standards, guidance, or other treatises.
The Process
To update the Domestic Chart and the International Chart, members of the NACVA Standards Board followed a very intensive analysis and comparison review of each professional organization’s standards. The NACVA Standards Board initially ensured that all the references were still accurate and relevant based on the available information. It then issued updated preliminary drafts of the Domestic Chart and the International Chart (Effective December 1, 2021) that were reviewed and approved by members of the Executive Advisory Board (EAB).
In addition, the NACVA Standards Board circulated copies of each draft of the Domestic Chart and the International Chart to various valuation professional organizations (VPO) and other valuation professionals seeking review and comments from these VPOs and valuation professionals to ensure the accuracy of the reported information.
We received responses from various domestic and international VPOs and other valuation professionals, and we wish to acknowledge and thank all the time and effort spent by all who came forward to help us with this project.
It is important to note that these Charts were prepared by members of the NACVA Standards Board and although the information contained in these documents have been carefully compiled from sources believed to be reliable, the accuracy of the information is not guaranteed. Finally, for additional information regarding NACVA Professional Standards, please visit www.NACVA.com/Standards to obtain copies of these Charts, as well as other relevant information.
