The AICPA’s Statement on Standards for Valuation Services No. 1 (SSVS1) has been officially incorporated into the codification of the AICPA Professional Standards and is now VS Section 100. “Actually this is important that for CPAs it is now clearly part of the body of the professional standards of the AICPA and on equal footing with all other professional standards of the AICPA,” says David H. Goodman (Gosule, Butkus, & Jesson LLP) in a LinkedIn post. In a video statement, Carl Steffen, current co-chair of NACVA's Standards Committee, explains the codification and recommends to members that any reference in engagement letters to specific provisions of these valuation services standards should include applicable paragraph numbers from the new VS Section 100.
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