Professional Competence – In order to provide services to a client
one needs the knowledge and skills for the given task (AICPA, 2007).
Objectivity and Conflict of Interest - "The code requires objectivity
in the performance of all professional services, including valuation
engagements" (AICPA.org, 2015).
Establishing understanding with the client - all involved know the
scope of the project and the expectations that are to be reached. The
analyst should prepare an engagement letter outlining an
understanding with the client.
The SSVS is created for AICPA members to make sure the company
can provide the same level of service to all clients. The core
standards are the same across most standard-setting bodies.
AICPA.org. (2007, June). Statement on standards for valuation services
(VS Section 100). AICPA.org. Retrieved
from https://www.aicpa.org/resources/download/statement-on-
standards-for-valuation-services-vs-section-100
