AICPA members* are required to follow the Statement on Standards for Valuation Services No. 1 (SSVS No. 1), Valuation of a Business, Business Ownership Interest, Security, or Intangible Asset
when they perform engagements to estimate value that culminates in the expression of a conclusion of value or a calculated value. SSVS No. 1 is included in the FVS Online Professional Library under VS Sections 100 and 9100.
This toolkit was designed to provide non-authoritative guidance on the development of valuation or calculation engagements as well as the development of engagement letters and reports in accordance with SSVS No.1.
For more information on determining whether SSVS No. 1 compliance is required, download the following resources:
*Non-AICPA members should verify with their state boards of accountancy for regulations that state that CPAs must comply with SSVS No. 1 (VS Sections 100 and 9100).
Not an FVS Section member? Join the AICPA FVS Section today and gain access to this toolkit.
FVS sample engagement letters, checklists and sample reports are designed as educational and reference material for the members of the FVS Section and others interested in the subject. They do not establish standards or preferred practices.
Although much thought and effort have gone into the development of these tools, they are subject to change. These tools are issued as drafts only, and you retain responsibility for their final content. Please review them carefully and make any changes necessary for your specific use.