CBV Institute is at the forefront of the global valuation community. In our commitment to maintain the highest standards of professional valuation practice and guidance, we announce the opening of public consultations on an important, new resource publication for business valuation. Feedback is invited until January 31, 2021.

In a joint effort with several global Valuation Professional Organizations (VPOs), CBV Institute has collaborated to co-publish the updated International Valuation Glossary – Business Valuation. This glossary has been developed as part of ongoing efforts to harmonize definitions for business valuation and intangible asset terms.

The listed VPOs are issuing this joint exposure draft for public comment:

• AICPA – American Institute of Certified Public Accountants
• ASA – American Society of Appraisers
• CBV Institute – Chartered Business Valuators Institute
• RICS – Royal Institution of Chartered Surveyors
• TAQEEM – Saudi Authority for Accredited Valuers

The participating VPO’s wish to thank the following organizations for their review and contribution to the glossary:

• Chartered Accountants Australia & New Zealand (CA ANZ) (Australia and New Zealand)
• European Association of Certified Valuators and Analysts (EACVA) (Europe)
• Fédération Française des Experts en Evaluation (FFEE) (France)
• Institute of Chartered Accountants in England and Wales (ICAEW) (England and Wales)
• Institute of Valuers and Appraisers (IVAS) (Singapore)
• International Institute of Business Valuers (iiBV)
• International Valuation Standards Council (IVSC)
• National Association of Certified Valuators and Analysts (NACVA) (United States)
• The Appraisal Foundation (TAF)

As part of the VPOs’ due process, this draft glossary is being submitted for public comment to ensure this resource meets the needs of the global valuation profession. Following the exposure draft process and final revisions, the VPOs intend to adopt and publish these definitions.

The consultation period is open and the VPOs request your participation within the 45-day consultation period ending January 31, 2021. Feedback is sought on the terms included and their definition.

The VPOs are committed to maintaining the highest quality of professional standards and guidance, and your feedback will be critical to achieving this goal.

We look forward to your participation in this process and incorporating the input, views and recommendations from individual members of the VPOs, other societies and associations, corporations, and academics among others.

Thank you!