- Our Business Valuation Committee advocates for members in this area to help maintain rigorous professional standards.
- We provide our members with important tools, resources and technical information on business valuations.
- If you have relevant skills, experience and knowledge, you may be able to apply for recognition as a 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 International Financial Reporting Standards (IFRS) and fair value reporting gain acceptance across the globe, we recognise the need for the ongoing development of a business valuation industry.
As a CA, if you are providing business valuation services, you can stay up to date by accessing new and evolving standards, resources and work practices which provide insight and support professional development They provide you with essential information which facilitates the provision of high quality valuation services.
The standards related to this field are set by the Accounting Professional and Ethical Standards Board (APESB). All engagements or assignments in Australia are governed by APES 225 – Valuation services. Similarly these are governed by AES-2 in New Zealand – Independent Business Valuation Engagements.
This standard applies to accountants working in the corporate sector and in government. For more information on this and other issued standards visit the APESB site and Members Handbook Institute of Chartered Accountants of New Zealand.
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,
- contributing to articles included in the quarterly newsletter,
- attending business valuation events held in your region throughout the year,
- attending the business valuation conference held every two years.
2020 Valuation practice survey
The first CA ANZ Valuation Practice Survey asked members for their views on the key trends affecting valuations. It has revealed three key insights.Read the full reportWhat's ahead for 2021?
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 now
Tools and resources
Addendum to the Engagement Letter Tool (Australia): Valuation services
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
Valuation Report Template
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
Guide to Business Valuation Risk
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:
- Evolving accounting and tax regulation
- Changing balance sheets
- 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.
The appraisal foundation
- Uniform Standards of Professional Appraisal Practice
- International Appraisal Standards
- USA valuation sources
- Value management
Valuation Standards around the World
- International Business Valuations Council
- The Canadian Institute of Chartered Business Valuators
- The American Society of Appraisers
- Uniform Standards of Professional Appraisal Practice
- International Appraisal Standards
Australian Securities Investments Commission guidance relevant to business valuation practitioners.
Australian Taxation Office guidance relevant to business valuation practitioners
International Valuation Standards (IVS)
Members can access the latest IVSC International Valuation Standards (IVS). These standards are effective 31 January 2022 with early adoption of the new standards encouraged by the IVSC.
Available for members are:
1. A full PDF copy of the latest IVS (effective 31 January 2022)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 2020).Access the redline IVS here
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 BV Committee
Our committee is made up of highly experienced business valuation specialists and prominent Chartered Accountants who:
- Contribute to submissions related to business valuations
- Assist in developing the Business Valuation Conference
- Lead state networking events
- Drive relevant conversations in our member networks and at conferences
Meet our committee members
Stephen Reid CA
Stephen 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 ICAANZ Business Valuation Specialisation Committee.
Fiona Hansen CA
Fiona is a partner in PPB Advisory's Valuation team. She has over 20 years' experience in corporate finance having worked in senior roles at Deloitte and EY, before joining PPB Advisory in 2014.
Fiona started her career in audit, working in Australia, Europe and South Africa and now specialises in providing business valuations.
Fiona has advised on acquisitions, divestments, valuations and financial due diligence assignments for numerous clients across a broad range industries. Regarding valuations, Fiona specialises in preparing independent expert's reports and tax and accounting compliance valuations as well as valuations of infrastructure assets.
Fiona also prepares valuations of equity, executive options, businesses, brands and other intellectual property, utilising various methodologies and for different purposes (accounting, corporate tax, stamp duty, capital gains tax, transfer pricing and other regulatory 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.
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.
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.
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.
Simon Cook CA
Simon specialises in valuing private businesses and quantifying damages.
Simon is an Accredited Business Valuer and an Accredited Forensic Accountant with Chartered Accountants Australia and New Zealand (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.
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.READ MORE AT CA LIBRARY