Business valuation

Information and resources for members working in business valuation.

In Brief

  • We offer tools, resources and education to help members working in business valuation.
  • The Business Valuation Committee provides input on valuation issues and leads support for members.
  • If you have relevant skills, experience and knowledge, you could take the specialisation course and apply to become a CA Business Valuation Specialist.

What is business valuation? 

A business valuation incorporates the valuation of businesses, securities and intangible assets that are required for a multitude of reasons including accounting, taxation, transactions and disputes. 

As a CA providing business valuation services your work is governed by CA ANZ’s professional and ethical framework. This includes ethical and professional pronouncements applicable across all services, supplemented by specific standards applicable to valuation services. 

The International Valuation Standards Council (IVSC) is a global standard setter for the valuation profession. Members may elect to adopt the International Valuation Standards (IVS) set by the IVSC, which are gaining recognition and acceptance in international markets. The IVS are not mandatory in Australia or New Zealand. Members can access the IVS.

Ways to get involved

As a member you can stay up to date in a number of ways including:

  • subscribing to the quarterly Business Valuation Community Newsletter. Request this through Communication Preferences in your My CA profile. Previous editions of the Newsletter can be found on My CA under the Business Valuation Group
  • contributing to articles included in the quarterly newsletter
  • attending business valuation events held online or in your region
  • attending the business valuation conference held every two years
  • joining the Business Valuation community on My CA to connect with members who are either interested in or currently work in the business valuation space.

2022 Valuation practice survey

The annual CA ANZ Valuation Practice Survey, which was conducted in August 2022 asked CA Business Valuation Specialists for their views on the key issues, challenges and trends affecting valuations.

Access the results here

Subscribe to BV Community Newsletter

Request this through Communication Preferences in your profile. Previous editions of the Newsletter can also be found on My CA under the Business Valuation Group for you to view and discuss.

Login to My CA

Tools and resources

Guide on Australian Financial Services Licensing and Valuation Services

Download this guide which aims to help members providing valuation services that fall under APES 225 to determine if a particular engagement or assignment needs to be conducted under the AFSL.

Download Guide here

Our Business Valuation Committee

Our committee is made up of highly experienced CA Business Valuation Specialists who:

  • Contribute to submissions related to business valuations
  • Assist in developing the Business Valuation Conference
  • Lead regional networking events
  • Drive relevant conversations in our member networks and at conferences

Meet our committee members

  • Stephen Reid FCA

    Stephen chairs the committee, and is a Partner of Deloitte’s mergers and acquisitions business, specialising in providing clients with valuation advice for mergers and acquisitions or other commercial purposes. 

    During his 30+ year career with Deloitte Stephen has provided clients with corporate finance advice, pre-acquisition due diligence reviews, valuations, structuring advice and feasibility studies in respect of companies operating across a broad range of industries throughout Asia.  

    Stephen is an Adjunct Fellow of Macquarie University and teaches the Applied Business Valuation and Advanced Valuation for Corporate Finance in the university’s Masters of Applied Finance. He is also a CA Business Valuation Specialist and a member of the CA ANZ Business Valuation Specialisation Committee.

  • Fiona Hansen CA

    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.

  • Hugh McPharlin FCA

    Hugh is Business Unit Head for Forensic Accounting Services at Nexia Edwards Marshall in Adelaide.

    Hugh specialises in Forensic accounting and litigation support services, covering the spectrum of business valuation services including matrimonial property matters, particularly, professional service enterprises and minority interests.

  • Jay Shaw CA

    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 Moulton CA

    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.

  • Nadine Marke CA

    Nadine is a Partner in RSM Australia’s Corporate Finance division.  She has been undertaking valuations in Australia for almost 15 years, having moved from the UK where she worked in both Audit and Restructuring roles.

    Nadine leads the valuation and litigation support services team in Perth, which has a particular focus on relationship, property and shareholder disputes.  She has valued companies and businesses in a wide range of industries and for other purposes such as acquisitions, divestments, independent expert reports and taxation.

  • Nghia (Neil) Nguyen CA

    Nghia is a Director in EY’s Assurance and Capital Markets practice with international experience across Malaysia, Singapore, Australia, Philippines, Indonesia, New Zealand and the United States of America.

    Nghia specializes in handling US cross border deals including SPACs, IPOs and convertible note offerings, and he is experienced in resolving the various business valuation and accounting issues that arise from these types of transactions.

    Nghia is an accredited Chartered Accountant Business Valuation Specialist (CA BV Specialist) and a member of the CA ANZ Business Valuation Specialisation Committee. He is also a Regional Councillor on the CAANZ Malaysia council where he actively promotes the business valuation specialisation program to the region. His past roles with CA ANZ also includes being a committee member of the Young Chartered Accountants subcommittee in Singapore and Victoria, Australia.

  • Richard Stewart OAM FCA

    Richard is a PWC Partner with experience in company and business valuations, corporate finance and mergers and acquisitions.

    His experience has involved valuations of companies and businesses for the purposes of acquisitions, divestments and mergers including independent expert's reports on takeovers and proposals requiring shareholder approval.

    Richard is a past chair of the NSW Regional Council of CAANZ and past Chair of the Business Valuation Special Interest Group (BVSIG) of that Organisation.

    Richard is an Adjunct Professor at the Business School of the University of Technology, Sydney.

  • Simon Cook CA

    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.

  • Steve Grivas CA

    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.

  • Milica Wojno CA

    Milica is an executive director and partner at PKF Corporate Finance specialising in valuations and financial modelling. She leads cross-border teams using 21st century emotionally intelligent leadership.

    She has over 7 years of experience in corporate finance where she has been advising and valuing a variety of clients in diverse industries, including large, listed entities and small start-ups, both in Australia and South Africa.

    Milica is a CA and Business Valuation Specialist with CA ANZ, a CFA Charter holder, has an MBA from the University of London, and has completed several financial modeling and valuation analyst courses. Clients appreciate the value she adds through her technical expertise, creative and flexible problem-solving skills, and excellent service delivery.

Business Valuation at the CA Library

Want to delve deeper into the valuation of digital intangibles or learn some new strategies to value small businesses? CA Library has a wide variety of business valuation resources, all complimentary to members. Expand your technical knowledge and professional skills with eBooks, audiobooks and articles from CA Library.