Should the BV community unite behind single standards?

BVWireIssue #60-3
September 26, 2007

Taxation without representation is a well-known ‘no-no.’  The same should be, but is not, true of regulation in the [BV] profession,” writes Raymond C. Miles, CBA, ASA, Executive Director of the Institute of Business Appraisers, in the current issue of IBA News, now available at the IBA website.  “There is a proliferation of institutions and organizations whose activities affect business valuation standards,” but, “the business valuation profession does not have effective input to standards established by the Appraisal Foundation, the Financial Accounting Standards Board, or the International Valuation Standards Committee.  The BV profession needs to unite for the development of a single set of standards, written by BV appraisers, for BV appraisers and enforced by BV organizations,” Miles says.  His article ends with a call to send a “teabag” of protest to the various BV membership organizations:

We call on the leaders of our BV organizations jointly to convene to draft these standards, putting aside organizational differences for the good of the profession and the public.

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