Revised Code of Ethics – Exposure Draft
July 6, 2026
The Canadian Institute of Chartered Business Valuators (“CBV Institute”) invites comments on a proposed revised Code of Ethics. The proposed updates impact all Members and Students and are designed to ensure the Code continues to reflect the highest standards of professional conduct and ethical practice, and has been modernized since it was last written in 2012. The updates contain new requirements relating to independence & conflict-of-interest, responsibility and required competence for technology/AI, marketing and social media use by CBVs and new requirements for Students who issue reports.
DEADLINE FOR COMMENTS
Comments must be received by September 30, 2026 to be considered.
Feedback is invited by email. Please reference specific sections of the draft where possible and indicate whether your comments are offered on your own behalf or on behalf of an organization.
Email: heather.bennett@cbvinstitute.com
DOCUMENTS FOR FURTHER REVIEW
| Document | Format | Format II |
| Exposure Draft | Download Exposure Draft | – |
| Code of Ethics | Download Proposed Clean | Download Redline Version |
Next steps:
After the comment period closes, CBV Institute will review all feedback received and may further amend the Code. To become effective, the revised Code must be approved by CBV Institute’s Board of Directors.
Previous Exposure Drafts
REVISIONS TO PRACTICE STANDARDS NO 100, 110, 120 AND 130
December 17, 2024
This Exposure Draft concerning proposed revisions to the practice standards for independent valuations (Practice Standards Nos. 110, 120 and 130, or “the Standards”) is issued by The Canadian Institute of Chartered Business Valuators (“CBV Institute”) for comment. This is the third Exposure Draft on this topic and is an update to the Exposure Draft dated June 29, 2022. This Exposure Draft contains proposed changes which impact all valuation conclusions and reports, including Calculation Valuation Reports.
Deadline for comments on this Exposure Draft has passed.
CBV Institute has produced a concise, 5-minute audio overview of the exposure draft to enhance understanding of the proposed changes. Tune in to the podcast below and share your thoughts with us!
REVISIONS TO PRACTICE BULLETIN NO. 5
April 17, 2024
CBV Institute is seeking comments on revisions to Practice Bulletin No. 5 (PB5). PB5 has been revised to expand guidance on situations where reporting standards are not intended to apply. We welcome feedback from all stakeholders until June 7, 2024.
The revised PB5 (renamed Guidance as to when reporting standards are not intended to apply) does not change any of the standards or their interpretation. It simply clarifies existing practice and provides expanded guidance on several areas, particularly those work products commonly referred to as ‘illustrative pricing analysis’.
DEADLINE FOR COMMENTS
Deadline for comments has passed. Please go to the top of the page to review latest Exposure Draft.
MATERIALS AND ATTACHMENTS
ADOPTION OF IVS AS OPTIONAL USE PRACTICE STANDARDS
December 21, 2022
This Exposure Draft proposes the adoption and permitted (optional) use of the International Valuation Standards (IVS) as issued by the International Valuation Standards Council (IVSC) for independent valuation engagements which would otherwise be performed in accordance with CBV Institute Practice Standards Nos. 100, 110, 120 and 130. For clarity, IVS would be adopted as an option alongside, rather than replacing, Practice Standards Nos. 100, 110, 120 and 130.
DEADLINE FOR COMMENTS
Deadline for comments has passed. Please go to the top of the page to review latest Exposure Draft.
Materials and Attachments
IVS effective January 31, 2022
Proposed Practice Standard No. 100
Catalina Miranda, Vice President, Regulatory and Standards for CBV Institute, summarizes the changes that are being proposed.
REVISIONS TO PRACTICE STANDARDS NOS. 110, 120, 130 - INDEPENDENT VALUATION CONCLUSIONS AND VALUATION REPORTS
June 29, 2022
This Re-exposure Draft concerning proposed revisions to the practice standards for independent valuations (Practice Standards Nos. 110, 120 and 130, or “the Standards”) is issued by The Canadian Institute of Chartered Business Valuators (“CBV Institute”) for comment. This is the second exposure draft on this topic and is an update to the exposure draft dated June 3, 2021. This Re-exposure Draft contains proposed changes which impact all valuation conclusions and reports, including Calculation Valuation Reports.
DEADLINE FOR COMMENTS
Deadline for comments has passed. Please go to the top of the page to review latest Exposure Draft.
June 3, 2021
This Exposure Draft concerning revisions to the practice standards for independent valuations (Practice Standards Nos. 110, 120 and 130, or “the Standards”) is issued by The Canadian Institute of Chartered Business Valuators (“CBV Institute”) for comment. The Exposure Draft contains proposed changes which impact Calculation Valuation Reports, as well as other targeted improvements. The Standards may be modified in light of the comments received.
DEADLINE FOR COMMENTS
Deadlines for comments has passed. Deadline for comments has passed. Please go to the top of the page to review latest Exposure Draft.
Catalina Miranda, Director of Professional Practice for CBV Institute, summarizes the major changes to standards which are being proposed.