Council: no tax in valuation standards; deadline extended.

• Position: CalCPA News

CalCPA Council passed a resolution July 23 opposing the inclusion of tax in the AICPA's Proposed Statement on Standards for Valuation Services: Valuation of a Business, Business Ownership Interest, Security, or Intangible Asset. The move followed the AICPA's decision to extend the comment period for the exposure draft to Sept. 30, 2005.

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While the AICPA seeks comments on the draft's interaction with other standards; documentation of understanding with the client; use of specialists...