The AICPA’s
Statement on Standard for Valuation Services No. 1 (SSVS No. 1), Valuation of a Business, Business Ownership Interest, Security, or Intangible Asset was issued to improve the consistency and quality of valuation services provided by all AICPA members who perform valuations. SSVS No. 1 is effective for engagements accepted on or after January 1, 2008.
AICPA members are required to follow this standard when they perform engagements to estimate value that culminates in the expression of a conclusion of value or a calculated value. Non-AICPA members should verify with their state boards of accountancy for regulations that state that CPAs must comply with SSVS No. 1.
In recent years, the need for business valuations has increased significantly. This SSVS Toolkit was designed to provide non-authoritative guidance on developing engagement letters and reports in accordance with SSVS No.1. For an overview of the challenges facing practitioners and the tools available to provide CPAs with guidance in determining whether SSVS No. 1 compliance is required, download the recording to the
Understanding the Statement on Standards for Valuation Services No. 1 web seminar.
Not an FVS Section member? Join the AICPA FVS Section today and gain access to this new toolkit. 
| Customizable Valuation and Calculation Engagement Letter Templates |
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These customizable engagement letter templates have been supplemented with best practice recommendations to ensure the letters are as effective as possible in clearly documenting the terms of the engagement.
Parts of these sample engagement letters were taken from Jim Hitchner’s Business Valuation Standards Compliance Toolkit, Valuation Products and Services, LLC, www.valuationproducts.com , ©2009 Financial Valuation Solutions, LLC. All rights reserved. Used with permission.
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| SSVS No. 1 Reporting Content Checklists |
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These checklists provide valuation and calculation reporting considerations pursuant to SSVS No. 1.
Scope of SSVS No. 1 Reporting Compliance Checklists
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| Sample Valuation Reports |
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Samples of the types of written reports that a valuation analyst may use to communicate the results of an engagement to estimate or value pursuant to SSVS No. 1 for a valuation engagement, a detailed report or a summary report, are downloadable in PDF format.
Most of the assumptions and limiting conditions in the above reports were taken from Jim Hitchner’s Business Valuation Standards Compliance Toolkit, Valuation Products and Services, LLC, www.valuationproducts.com , ©2009 Financial Valuation Solutions, LLC. All rights reserved. Used with permission.
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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.
Access to the SSVS Toolkit is intended as an individual benefit of FVS Section membership. The SSVS Toolkit was created by and copyrighted to the American Institute of Certified Public Accountants, which reserves all rights. Except in the context of performing client services, reproduction, redistribution, republication or resale of this product by the member granted access is prohibited. Should AICPA omit or decline to enforce any aspect of these Terms of Use at any given time or instance, such non-enforcement does not constitute and should not be construed as a waiver of AICPA’s rights as to any other or future instance. For more information about the terms of use for the SSVS Toolkit, or to request permission for a use which exceeds these limitations, please contact Thomas Robinson, Senior Manager, Licensing, Rights & Information Services, at 919.402.4031 or via
email.