Standard No. 100 

Valuation Conclusions and Valuation Reports

Standard No. 110

Valuation Report Disclosure Standards

Appendix A to Standard No. 110

Valuation Report Disclosure Standards for Securities Regulation or Policies

Appendix B to Standard No. 110

Valuation for Financial Reporting Disclosure Standards

Standard No. 120

Valuation Conclusions and Valuation Reports – Scope of Work Standards 

Standard No. 130

Valuation Conclusions and Valuation Reports – File Documentation Standards

International Valuation Standards (Effective January 31, 2025)

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 Jan 31, 2025

Advisory Report Standards

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

Standard No. 220

Advisory Reports – Scope of Work Standards and Recommendations

Standard No. 230

Advisory Reports – File Documentation Standards and Recommendations

Expert Report Standards

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

Standard No. 320

Expert Reports – Scope of Work Standards and Recommendations

Standard No. 330

Expert Reports – File Documentation Standards and Recommendations

Limited Critique Report Standards

The Limited Critique Report Standards (PS 410/420/430) set the minimum requirements for a valuator retained as an independent expert to provide their comments on another report that contains a conclusion as to the value of shares, assets, or an interest in a business, or a conclusion as to the quantum of financial gain/loss.

Standard No. 410

Limited Critique Reports – Reporting Standards and Recommendations

Standard No. 420

Limited Critique Reports – Scope of Work Standards and Recommendations

Standard No. 430

Limited Critique Reports – File Documentation Standards and Recommendations

Fairness Opinion Standards

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

Standard No. 520

Fairness Opinions – Scope of Work Standards and Recommendations

Standard No. 530

Fairness Opinions – File Documentation Standards and Recommendations

Investment Entity Review Report Standards

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

Standard No. 620

Investment Entity Review Report – Scope of Work Standards and Recommendations

Standard No. 630

Investment Entity Review Report – File Documentation Standards and Recommendations

Labour Sponsored or VC Fund Valuation Report Disclosure Standards

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