EXPOSURE DRAFT RELEASED 

CBV Institute welcomes comments on the exposure Draft concerning proposed revisions to the practice standards for independent valuations (Practice Standards Nos. 100, 110, 120 and 130).

The proposed changes in this exposure Draft impact all valuation conclusions and reports in several ways, including: 

• Re-defining Calculation, Estimate and Comprehensive, distinguished by Scope of Work, namely depth of work, especially corroboration,
• Enhancing the scope of work required for Calculation Valuation Reports,
• Quality control over the valuation process,
• Reasonability of inputs and assumptions,
• Enhancing report disclosure re: the rationale for professional judgments made,
• Draft report disclosures,
• Assess the reliability of any external data sources or tools relied upon, including databases, opinions from specialists and newer technologies like AI and AVMs,
• Requiring a step-back assessment of the reasonability of the overall Valuation Conclusion.

This is the third and final exposure draft on this topic, updating the earlier exposure drafts issued on June 29, 2022, and June 3, 2021.

Comments must be submitted by April 30, 2025.

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CALL FOR PARTICIPATION: OSC LONG-TERM ASSETS CONSULTATION

Calling all Ontario Members! CBV Institute requests your input to inform its response to the Ontario Securities Commission’s (OSC) Public Consultation Paper: Opportunity to Improve Retail Investor Access to Long-Term Assets Through Investment Fund Product Structures, meant to facilitate increased investment in long-term illiquid and capital-intensive assets.

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DID YOU KNOW? NEW IFRS 18

Presentation of Financial Statements is changing. New IFRS 18 will redesign the Income Statement and create more comparability

Users of financial statements received some good news in 2024! In response to investors’ demand for better information about companies’ financial performance, the IASB published IFRS 18 in April 2024. The new IFRS 18, set to replace IAS 1, is expected to enhance comparability, and is meant to be more useful to users in assessing the prospects for future net cash inflows to the company, hopefully providing better access to capital.

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