Apparently to save time and money, attorneys in Canada are asking for just the schedules a valuer prepares, not a report, according to speakers at the recent CBV Connect 2023, hosted by the CBV Institute, Canada’s valuation professional organization (VPO) and standard-setter. The session discussed the three levels of valuation reports under Canadian valuation standards: comprehensive, estimate, and calculation. The calculation report is the lowest level and is based on minimal review and analysis and little or no corroboration of information given by management. Regarding the requests for schedules only, valuers cannot opt out of the reporting standards if a valuation conclusion is expressed, the speakers said.

Full coverage of the conference will be in the August issue of Business Valuation Update.