Three of the major elements required in the statement on standards
for valuation services (SSVS) are...
• Professional Competence – "A valuation analyst should possess
a level of knowledge valuation principles and theory and of a
level of skill theapplication in of such principles that will enable
him her identify, gather, and analyse data, consider and or to
apply appropriate valuation approaches and methods, and use
professional judgment developing estimate value in the of
(whether single amount a or a range)" (AICPA, 2007).
• Establishing Understanding with an the Client –"The valuation
analyst should establish understanding with theclient, an
