Practice Standards

The Valuation Practice Standards (Practice Standard Nos. 100/110/120/130) set the minimum requirements for a valuator to establish a credible and properly supported conclusion of value for shares, assets, liabilities, or any other business interest. These standards apply to independent valuation engagements beginning on or after January 1, 2026. The archived Valuation Practice Standards are available at the bottom of this page.

• Standard No. 100 — Valuation Conclusions and Valuation Reports [Download]
• Standard No. 110 — Valuation Report Disclosure Standards [Download]
• Appendix A to Standard No. 110 — Valuation Report Disclosure Standards for Securities Regulation or Policies [Download]
• Appendix B to Standard No. 110 — Valuation for Financial Reporting Disclosure Standards [Download]
• Standard No. 120 — Valuation Conclusions and Valuation Reports — Scope of Work Standards [Download]
• Standard No. 130 — Valuation Conclusions and Valuation Reports — File Documentation Standards [Download]

The International Valuation Standards Council (“IVSC”) is an independent global standard setter for the valuation profession and issues the International Valuation Standards (“IVS”). CBV Institute recognizes and permits the use of IVS as an acceptable alternative to the Valuation Practice Standards. Archived IVS are available at the bottom of this page. 

IVS (current) — International Valuation Standards, effective January 31, 2025 [Download]

The Advisory Report Standards (Practice Standard Nos. 210/220/230) set the minimum requirements for a valuator providing valuation conclusions in an advisory capacity, e.g. in situations where independence is not required. 

• Standard No. 210 — Advisory Reports — Report Disclosure Standards and Recommendations [Download]
• Standard No. 220 — Advisory Reports — Scope of Work Standards and Recommendations [Download]
• Standard No. 230 — Advisory Reports — File Documentation Standards and Recommendations [Download]

The Expert Report Standards (Practice Standard Nos. 310/320/330) set the minimum requirements for a valuator retained as an expert to provide their independent professional opinion as to the quantum of financial gain/loss or any conclusion of a financial nature in the context of litigation or a dispute. 

• Standard No. 310 — Expert Reports — Report Disclosure Standards and Recommendations [Download]
• Standard No. 320 — Expert Reports — Scope of Work Standards and Recommendations [Download]
• Standard No. 330 — Expert Reports — File Documentation Standards and Recommendations [Download]

• Standard No. 410 — Limited Critique Reports — Reporting Standards and Recommendations [Download]
• Standard No. 420 — Limited Critique Reports — Scope of Work Standards and Recommendations [Download]
• Standard No. 430 — Limited Critique Reports — File Documentation Standards and Recommendations [Download]

The Fairness Opinion Standards (Practice Standard Nos. 510/520/530) set the minimum requirements for a valuator providing a conclusion as to the fairness of a proposed transaction to security holders (or to a group of security holders), from a financial point of view. 

• Standard No. 510 — Fairness Opinions — Disclosure Standards and Recommendations [Download]
• Standard No. 520 — Fairness Opinions — Scope of Work Standards and Recommendations [Download]
• Standard No. 530 — Fairness Opinions — File Documentation Standards and Recommendations [Download]

The Investment Entity Review Report Standards (PS 610/620/630) set the minimum requirements for a valuator performing an independent review to assess whether or not the value of the specified shares, units, underlying investments or the net asset value of the Investment Entity, as determined by the manager of the Investment Entity or another party, is reasonable. 

• Standard No. 610 — Investment Entity Review Report — Report Disclosure Standards and Recommendations [Download]
• Standard No. 620 — Investment Entity Review Report — Scope of Work Standards and Recommendations [Download]
• Standard No. 630 — Investment Entity Review Report — File Documentation Standards and Recommendations [Download]

The Labour Sponsored or Venture Capital Fund Valuation Report Disclosure Standards set the minimum requirements for a valuator retained to perform an independent review to assess whether or not the value of the venture investments or the net asset value of the Fund, as determined by the manager of the Fund or another party, is reasonable. 

• Appendix A to Standard No. 410 — Labour Sponsored or Venture Capital Fund Valuation Report Disclosure Standards and Recommendations [Download]

Recently archived standards. If you require older standards, please contact [email protected].