Valuation Rules and Valuation Guidelines

We follow the appropriate and relevant valuation rules and valuation guidelines.  So for example, for a valuation engagements we follow:

APES 215.   The Accounting Professional & Ethical Standards Board standard on Forensic Accounting.  The standard covers issues such as public interest, professional independence, professional competence and due care, confidentiality, duties to the court,  expert reports and quality control.

APES 225. The Accounting Professional & Ethical Standards Board (APESB) standard on Valuation Services. The standard distinguishes three types of valuation service: Calculation Engagement, Limited Scope Valuation Engagement and Valuation Engagement. The standard covers issues such as the responsibilities of members, engagement and certain mandatory reporting requirements for members.

APES GN20 – Scope and Extend of Work for Valuation Services. This Guidance Note issued by the APESB provides assistance to members on the application of APES 225. The note does not prescribe any mandatory requirements.  The Note provides guidance on areas such as the information to be considered in the appropriate valuation service and the extent of work to be completed and evidence obtained. The Note is based and developed from the Canadian Institute of Chartered Business Valuators guidance.

AICPA International Glossary of Terms.  Any report will be use the terms as defined by the American Institute of Certified Public Accountants, as required by the Australian Accounting Professional & Ethical Standards.

International Valuation Standards Council.  Where applicable the report may refer to the standards issued by the international valuation standard setters the IVSC.

AVCAL. In some situations in may be appropriate to refer to the Australian Private Equity & Venture Capital Association Valuation Guidelines.

IFRS. International Financial Reporting Standards are the standards developed on how to deal with items in financial statements, for example, they deal with issues such as recognition of revenue, fixed assets and provision.  It may be necessary to consider how the standards have been applied to financial statements, eg. whether the treatment of assets, liabilities, income and expenses is in accordance with the standards.

Expert Witness rules

We also comply with the relevant expert evidence rules, including:

Expert Evidence Practice Note (GPN-EXPT). The Federal Court Practice Note CM7 “Expert witnesses in proceedings in the Federal Court of Australia” has been replaced with the new general practice note GPN EXPT

Uniform Civil Procedure Rules. Rules 426 to 429B.  Particular rule 426 and the duty of an expert and 428 requirements of the report.

Family Law Rules 2004.  Part 15.5 of the rules covering the definition of an expert witness, reports and when an expert witness can be used in a family law matter.