Standards for Business Valuations released for comment.

A draft of proposed Business Valuation Standards has been released by the AICPA for comment. The proposed standards consist of guidelines for the development of valuation conclusions and reporting on the results. The standards would apply to AICPA members who perform valuation services in a variety of circumstances, including tax, mergers and acquisitions, litigation and financial reporting.

Users of CPA valuation services are expected to benefit from these standards, because they encourage consistency and disclosure in valuation development and reporting. Once the standards are final, CPAs who are AICPA members will be required to comply with them when performing a valuation engagement that reaches a conclusion of value or an indication of value.

The AICPA...