Members can download sample tailored engagement letter clauses for a valuation engagement conducted in accordance with APES 225. The sample engagement clauses included in this addendum provide guidance and suggested wording applicable to valuation engagements, to assist you in relation to specific valuation paragraphs when tailoring the Engagement letter tool (Australia) to your valuation engagement.

Access the tool here

Members can download this report template, designed to guide members when preparing a valuation report in accordance with APES 225 Valuation Services.

Access the template here

Our Concise guide to managing business valuation risk provides information for directors to assess their exposure to valuation risk, evaluate the board’s level of expertise to deal with valuation issues, and exercise appropriate due diligence when addressing questions around valuation risk.

Three areas in which directors’ exposure to valuation risk have arisen are:

1. Evolving accounting and tax regulation
2. Changing balance sheets
3. Increased market volatility

Directors have an important role to question risk management processes, and ensure adaptability to the board's corporate strategy.

There is an elaborate and interrelated set of financial skills and business acumen involved in business valuation, including financial forecasting, benchmarking and industry analysis and capital markets understanding.

The guide provides a list of questions to assist directors to evaluate the level of expertise within an organisation.

Global bodies, standards and resources 

• International Valuations Standards Council
• The Canadian Institute of Chartered Business Valuators
• The American Society of Appraisers

Australian Securities Investments Commission guidance relevant to business valuation practitioners.

• ASIC Regulatory Guide 111 Content of expert reports
• ASIC Regulatory Guide 112 Independence of experts

Australian Taxation Office guidance relevant to business valuation practitioners

• Consolidation and market valuation summary

Members can access the latest IVSC International Valuation Standards (IVS). These standards are effective 31 January 2025 with early adoption of the new standards permitted by the IVSC.

Available for members are:

1. A full PDF copy of the latest IVS (effective 31 January 2025)

Access the IVS here

2. A ‘red-line’ version of the latest IVS showing the changes since the previous version of IVS (effective 31 January 2022).

Access the redline IVS here

Simon specialises in valuing private businesses and quantifying damages.  

Simon is an Accredited Business Valuation Specialist and an Accredited Forensic Accounting Specialist with CA ANZ. 

He chairs the CA ANZ Business Valuations group for Queensland and is a CA ANZ Business Valuation Committee member.    

Simon’s qualifications include the New York Stern University Advanced Valuations program, Graduate Diploma in Applied Finance, and the Certified Fraud Examiner qualification.    

Prior to founding Lotus Amity, he was a Forensic Accounting and Corporate Finance partner with BDO Australia and led their national forensic practice. He has worked on many cases in a wide range of industries, including assisting in multi-billion-dollar litigation in relation to the Bernie Madoff’s $65bn Ponzi scheme.  

Simon has assisted in many legal matters, including breach of contract, shareholder and transaction disputes and matrimonial matters. Forensic services provided include economic damage calculations, business valuations and interpretation of financial information. He has acted as an expert witness, as a shadow expert and assisted in mediations.

LinkedIn

Fiona is a Senior Managing Director in FTI Consulting’s valuation advisory team. She has over 20 years' experience in corporate finance having held senior roles in the Big 4 accounting firms working in Australia, Europe and South Africa.

Fiona specialises in valuations of businesses, intangible assets, equity and debt instruments, executive options, impairment testing and independent expert’s reports. She has prepared numerous valuation reports for a range of purposes, including mergers and acquisitions, accounting, taxation, stamp duty, Corporations Act and ASX requirements.

LinkedIn

Jay Shaw leads Grant Thornton New Zealand’s business valuations and forensic accounting service line and its Auckland financial advisory services practice.

He currently sits on the business valuation board of the International Valuation Standards Council (IVSC), the established standards setter for the business valuation profession globally.

Jay has more than 20 years valuation and forensic accounting experience in both NZ and in the UK. His experience includes numerous business and intangible asset valuations prepared for various commercial purposes, including financial reporting, tax, restructuring, disputes and M&A.

In addition, Jay provides forensic accounting and litigation support services, including economic damages assessments and financial investigations, to assist in the settlement of a wide range of commercial & other disputes.

James is an Associate Director in PwC’s Corporate Value Advisory practice and has over 10 years valuations and forensic accounting experience in Australia and South Korea.

James specialises in the valuation of businesses, shares, projects and financial instruments, and quantification of loss and damages in commercial disputes and litigation. He has undertaken valuations across a broad range of industries for public and private companies in Australia and overseas, including valuations for mergers & acquisitions, accounting, tax and dispute purposes. James is driving the use of data and analytics platforms in valuations to improve the quality and depth of insights provided to his clients.

LinkedIn

Steve became a partner with HLB Mann Judd in 2009 and is an industry respected auditor and advisory partner specialising in funds management, manufacturing, transport & logistics enterprises, construction and corporate transaction advice. When asked about the challenges about valuing businesses in many different structures, Steve noted that the commercial and analytical skills gained through auditing help him in good stead.

Personal philosophy: “I work to get results for my clients. I take great pleasure in seeing their growth and knowing I have contributed.”

My motivation/focus: Enjoying my newer focus on the corporate advisory environment in valuing equity in businesses arriving at ‘fair-value opinions’ whilst being involved in broader transaction advice. In summary: the excitement of seeing the Australian business landscape evolve.

Nick is a Partner at Morris Forensic, where he specialises in business valuations, forensic investigations, commercial disputes, and payroll remediation modelling.

He is an Accredited Business Valuation Specialist and Accredited Forensic Accounting Specialist with CA ANZ, as well as a Certified Fraud Examiner (ACFE).

Nick’s valuation work primarily supports litigation, including matrimonial and shareholder disputes, as well as broader commercial and taxation matters. He has experience valuing businesses across a variety of industries and structures, often in complex or contested contexts.

LinkedIn

Stephanie McAuliffe is a Director in Corporate Finance at RSM’s Perth office. She specialises in business and share valuations, expert reports, and forensic accounting. Stephanie is an accredited Business Valuation Specialist with Chartered Accountants Australia and New Zealand (CA ANZ).

With over a decade of experience in RSM’s Corporate Finance team, Stephanie brings a deep understanding of valuation and forensic engagements. Her earlier career in Business Advisory provided her with valuable insight into the operations and challenges of small to medium-sized enterprises.

Stephanie is known for her strong communication skills and meticulous attention to detail. She ensures that every engagement is delivered efficiently to the highest standard.

Her expertise spans business and share valuations, intangible asset valuations, litigation support, forensic accounting, and financial modelling. Recent projects have covered a range of industries, including:

• Technology
• Engineering and mining services
• Resources
• Manufacturing
• Retail, 
• Agriculture
• Professional services such as consultancies, financial services, and accounting firms.

Navneet Jyoti is a Chartered Accountant and CA Business Valuation Specialist with more than 20 years of experience across public practice, corporate finance, and strategic advisory. He specialises in business valuation, financial modelling, and evidence‑based commercial analysis, supporting business owners, investors, and boards through complex financial decisions.

As the founder of 19 Steps Business Advisory, Navneet advises clients on valuation, business appraisal for buyers, due diligence, and value‑focused guidance for business sales. His work also extends to asset protection, pre‑liquidation strategy, and matters involving family law, where independent valuation insight is increasingly required. He is committed to advancing valuation practice and contributing to the broader business valuation fraternity.