When is there a Duty to Corroborate Data? NACVA’s Standards Board (SDB) was formed in 2016 with the purpose to promulgate NACVA’s Standards, including the development of interpretations, amendments, restatements, and new releases of NACVA’s Standards as deemed necessary and prudent. While being able to influence the very rule governing one’s profession is an astute honor, the most rewarding role performed by the SDB is that of responding to questions that a member has asked or issues they are dealing with. This article addresses data reliability questions and issues, and how it relates to the NACVA standards. NACVA’s Standards Board…
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Business Valuation Comparison Charts A quartet of present and former Standards Board chairs for the National Association of Certified Valuators and Analysts (NACVA) were on hand to harmonize about valuation standards during the 2018 NACVA and the CTI’s Annual Consultants’ Conference at Caesars Palace in Las Vegas, Nevada. During NACVA’s Industry Standards and Ethics Update, and the Around the Valuation World, they discussed the results the NACVA Standards Board’s multi-year study comparing valuation standards promulgated by NACVA, IBA, AICPA, ASA, USPAP, IVSC, RICS, and CICBV. The results of this groundbreaking study were summarized into two comprehensive charts comparing the NACVA…
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“Rome was not built in a day,” but efforts are underway to do it faster for international valuation standards. At the recent World Congress of Accountants, Sir David Tweedie, chair, International Valuation Standards Council, outlined the challenges facing the valuation profession when he stated and questioned the following: “The profession developed as secondary specialization by experts working in different types of asset classes. It led to a fragmentation by asset type. Skills are regarded as technique rather than as a profession. What are the accepted qualifications? Lack of recognition by regulators, other professions, and prospective recruits.” Globally accepted professional standards…