David Goodman, CPA, CVA, a BVU subscriber, just pointed out an error in a recent BVU headline that promised the “long-awaited, last draft BV Standards” from the AICPA (see the July, 2006 issue). “The exposure draft has not yet been released,” David writes—and he’s correct. Two AICPA sources admit that though the Institute had hoped to post the exposure draft by June 15th, it has been postponed in committee. (One source intimated that a hold-up comes from tax practitioners, who resist being subject to valuation standards.) Understandably, no one’s willing to guess as to when the draft might be re-released for exposure—for fear of creating confusion or false expectations, although the hope is by the end of summer, so that finalization can take place by or just-after year’s end.
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