- Professional standards are a set of practices, ethics, and behaviors that members of a particular professional group must adhere to. Within the context of providing business valuation services, these standards ensure appraisers are employing standardized and accepted methodologies. At CVVA we recognize that by operating within the parameters of professional standards, we ensure that our valuations are high quality, defensible, and credible.
CVVA performs all valuations services in conformity with the following standards.
- Uniform Standards of Professional Appraisal Practice (USPAP) promulgated by the American Society of Appraisers (ASA).
- Statement on Standards for Valuation Services No. 1 (SSVS1) promulgated by the American Institute of Certified Public Accountants (AICPA).
- IRS Revenue Ruling 59-60, which outlines the general approaches, methodologies, and factors to be considered for estate and gift tax purposes.