AICPA: SSVS No. 1 is still in place and can remain in engagement letters and reports

BVWireIssue #151-1
April 1, 2015

Last week’s BVWire reported that the AICPA’s Statement on Standards for Valuation Services No. 1 (SSVS No. 1 or Standard)has recently been codified in its professional standards as VS Section 100. BVWire also reported that NACVA recommended that applicable paragraph numbers from the new VS Section 100 be included in engagement letters. Here are some clarifying factors regarding recent changes to SSVS No. 1:

  • SSVS No. 1 has always been included in the body of professional standards of the AICPA. The Standard has had equal footing with all other professional standards since it was released in 2007.
  • SSVS No. 1 is still in place. It is now organized in the AICPA Professional Library under Valuation Services, still under the title “Statement on Standards for Valuation Services,” and has been split into two subsections: VS Section 100: Valuation of a Business, Business Ownership Interest, Security, or Intangible Asset and VS Section 9100: Valuation of a Business, Business Ownership Interest, Security, or Intangible Asset: Valuation Services Interpretations of Section 100.
  • Recent changes were made to SSVS No. 1 to bring the references to the AICPA Code of Professional Conduct into conformity with the recent ethics codification. No other substantive changes were made.

What does this mean? This means that SSVS No. 1 and VS Sections 100 and 9100 are the same. The difference is confined solely to how the Standard is organized in the AICPA Professional Library. SSVS No. 1 can still be referenced in engagement letters and reports, and citing paragraph numbers from the codified format is unnecessary.

The most recent versions of SSVS No. 1 can be accessed by visiting the FVS website or can be accessed with other AICPA professional standards in the Forensic and Valuation Services Library. For more information, please contact

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