AICPA Business Valuation Standards slated for pre-exposure comment.

CPAs who perform business valuations will soon have authoritative standards to follow. The AICPA Business Valuation Subcommittee and its Business Valuation Standards Task Force expect to release a draft of the new Standards for pre-exposure comment by late summer in 2002.

The draft will be sent to all CPAs who have earned the AICPA's Accredited in Business Valuation (ABV) designation, the AICPA Consulting Services Executive Committee, the Business Valuation Subcommittee, the Business Valuations Standards Task Force, representatives of public accounting firms, representatives of the Internal Revenue Service, and other individuals and groups.

A revised draft of the Standards will then be issued for public comment within another six months. The Standards will be published by the Business Valuation Subcommittee, chaired by Thomas B. Hilton, CPA/ABV, on behalf of the AICPA Consulting Services Executive Committee.

When the new Standards are issued, they will apply to all CPAs engaged in business valuations, not only to CPAs who have earned the ABV designation or to CPAs with business valuation credentials from other organizations.

The Standards Task Force, chaired by Edward J. Dupke, CPA/ABV...