The following questions relate to proposed updates to the ‘General Standards’ section of the IVS, covering the following, as well as the Glossary. This section is applicable to all valuations:

• IVS 100: Valuation Framework
• IVS 101: Scope of Work
• IVS 102: Bases of Value
• IVS 103: Valuation Approaches
• IVS 104: Data & Inputs
• IVS 105: Valuation Models
• IVS 106: Documentation & Reporting
• IVS 107: Quality Control
• IVS Glossary

The following questions relate to proposed updates to the asset-specific standards covering:

• IVS 200: Business and Business Interests
• IVS 210: Intangible Assets
• IVS 220: Non-Financial Liabilities
• IVS 230: Inventory

14. The Exposure Draft proposes introducing additional sections aiming to provide for better alignment of the Business Valuation Asset Standards with the General Standards. These sections also seek to improve comparability between the Business Valuation Asset Standards and other Asset Standards, most notably with IVS 300 and IVS 400.

These sections include Valuation Framework (Section 30), Scope of Work (Section 40), Data and Inputs (Section 100), Valuation Models (Section 110), and Documentation and Reporting (Section 120). The introduction of these sections has resulted in the reallocation of some text into these new sections.

15. Across the Business Valuation Standards (IVS 200, IVS 210, IVS 220, and IVS 230), the text was streamlined.

These sections include Valuation Framework (Section 30), Scope of Work (Section 40), Data and Inputs (Section 100), Valuation Models (Section 110), and Documentation and Reporting (Section 120). The introduction of these sections has resulted in the reallocation of some text into these new sections.

16. In IVS 200 Businesses and Business Interests, a suite of paragraphs (?) on “Scenario Based Methods (SBM)” replaces the current text on “Probability-Weighted Expected Return Method (PWERM)” found in 130.23 to 130.27.

These sections include Valuation Framework (Section 30), Scope of Work (Section 40), Data and Inputs (Section 100), Valuation Models (Section 110), and Documentation and Reporting (Section 120). The introduction of these sections has resulted in the reallocation of some text into these new sections.

17. IVS 200 Businesses and Business Interests introduces a new section on Calibration, which is a technique widely used in the valuation of certain assets for specific bases of values, for example, when the intended use of the valuation is financial reporting.

These sections include Valuation Framework (Section 30), Scope of Work (Section 40), Data and Inputs (Section 100), Valuation Models (Section 110), and Documentation and Reporting (Section 120). The introduction of these sections has resulted in the reallocation of some text into these new sections.

The following questions relate to proposed updates to the asset-specific standards covering:

• IVS 500: Financial Instruments

The following questions relate to proposed updates to the asset-specific standards covering:

• IVS 300: Plant, Equipment & Infrastructure
• IVS 400: Real Property Interests