Professional Standards and Ethics
NACVA Establishes Task Force to Respond to Proposed IRS Regulations Governing Practice Before the Internal Revenue Service—January 31, 2025
NACVA/GACVA Issues U.S. Domestic and International Resources for Global Professionals and Professional Standards for GACVA—October 2023
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January 30, 2026 | Read NACVA Comments to The Appraisal Foundation, Appraisal Standards Board (ASB) First Exposure Draft: New Advisory Opinion 41, Use of Technology in an Appraisal or Appraisal Review
- The ASB will discuss the received comments at its virtual public meeting on February 19, 2026. You may register to attend the virtual meeting here.
- NACVA Association News, First Quarter 2026
- NACVA Association Headlines, February 9, 2026
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Access the exposure draft issued by the ASB on January 2, 2026
- January 30, 2026 | Read NACVA Comments to The Appraisal Foundation, Business Valuation Resource Panel (BVRP) First Exposure Draft of Proposed Changes to Valuation Brief 2025-4: Is the Business Appraiser You Intend to Hire Competent for the Assignment?
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January 15, 2026 | AICPA Financial Reporting Executive Committee (FinREC) Issued Working Draft of the Updated Valuation of Privately-Held-Company Equity Securities Issued as Compensation Accounting and Valuation Guide
- Comment period is open to June 1, 2026
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Under consideration with the NACVA Governance Task Force
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August 15, 2025 | U.S. Courts Judicial Conference Committee on Rules of Practice and Procedure Issued Preliminary Draft of Proposed Amendments to Federal Rules
- Comment period is open to February 16, 2026.
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Under consideration with the NACVA Governance Task Force.
- February 24, 2025 | Read NACVA Comments to the U.S. Department of the Treasury Proposed Amendments to the Regulations Governing Practice Before the Internal Revenue Service
Professional Standards Documents
June 1, 2023 | For engagements accepted on or after June 1, 2023
NACVA’s Current Professional Standards (PDF) (Effective June 1, 2023)
GACVA’s Current Professional Standards (PDF) (Effective June 1, 2023)
June 1, 2017 | For engagements accepted on or after June 1, 2017
NACVA’s Current Professional Standards (PDF) (Effective June 1, 2017)
Summary of Changes to NACVA's Standards (PDF)
August 1, 2015 | For engagements accepted on or after August 1, 2015
NACVA's Professional Standards (PDF) (Revised to include Review Standards) (Effective August 1, 2015)
NACVA’s Professional Standards Frequently Asked Questions
June 1, 2011 | For engagements accepted on or after June 1, 2011
NACVA and IBA Memberships Ratify Standards Unification (Effective June 1, 2011)
NACVA's Professional Standards (PDF) (For engagements accepted on or after June 1, 2011)
NACVA's Professional Standards (Word) (For engagements accepted on or after June 1, 2011)
Summary of Changes to NACVA's New Standards (PDF) (Effective June 1, 2011)
January 1, 2008 | For valuations performed after January 1, 2008 and prior to June 1, 2011
NACVA's Standards Announcement (PDF) (For valuations performed after January 1, 2008 and prior to June 1, 2011)
Summary of Changes to NACVA’s Standards (PDF) (Effective January 1, 2008)
NACVA's Professional Standards—Effective January 1, 2008 (PDF) (For valuations performed after January 1, 2008 and prior to June 1, 2011)
May 31, 2002 | For valuations performed prior to December 31, 2007
NACVA Professional Standards (PDF) - Effective May 31, 2002 (For valuations performed prior to December 31, 2007)
Professional Standards Comparison Charts
U.S. Business Valuation/Appraisal Standards Comparison Chart (PDF – 6/1/2023)
U.S. Business Valuation/Appraisal Standards Comparison Chart (PDF – 6/1/2022)
U.S. Business Valuation/Appraisal Standards Comparison Chart (PDF – 1/1/2020)
U.S. Business Valuation/Appraisal Standards Comparison Chart (PDF – 1/1/2018)
International Business Valuation/Appraisal Standards Comparison Chart (PDF – 6/1/2023)
International Business Valuation/Appraisal Standards Comparison Chart (PDF – 6/1/2022)
International Business Valuation/Appraisal Standards Comparison Chart (PDF – 1/31/2020)
International Business Valuation/Appraisal Standards Comparison Chart (PDF – 1/31/2018)
Glossary of Appraisal/Valuation Terms
- The Boundaries of Ethics Oversight
- Trust and Integrity: Your Ethics is One Call Away!
- Our Professional Responsibility to Avoid Plagiarism
- Do Ethics Rules Apply to Biased Appraisers?
- Reframing “Tunnel Vision”: 10 Lessons Learned from NACVA Membership
- Get Back to Basics to Mitigate the Chance of Bias Accusations
- Embedding Ethics into ESG
- Utilization of AI in Report Writing: Is This Ethical? How About This?
- Unveiling the Truth: The Ethical Importance of Transparency in Business Valuation
- Contribution to the Debate on AI and Ethics
- A Machine Learning Approach to Promoting Compliance
- Ethics, Business Valuation, and Bias
- Building an Ethical Culture
- General and Ethical Standards—Professional Competence
- Yes, It Is Ethical To “Judge”
- Advocate vs Expert—Is There Room as a CVA to be Both?
- Do Ethical Principles Matter in a Business Valuation?
- Key Ethical Considerations for Forensic Accountants/Expert Witnesses
- The Next Generation of Ethical Leadership
- Value of Professional Standards and Ethical Behavior
- Have You Seen NACVA’s General and Ethical Standards?
- Ethics in Cyber Security: WWW in Reference to Cyber Security Does Not Mean What You Think!
- How Well Do You Know Our General and Ethical Standards?
- Integrity—Ethics Oversight Board Message
- Business Valuation is NOT the Unauthorized Practice of Law
- Professional Oversight—NACVA's Monitoring Process
- Someone Has Filed a Complaint Against You With NACVA…Now What?
- Economic Recovery’s Effect on Ethics
- Ethics for Valuators...What You Don't Know Can Hurt You
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Standards and Ethics FAQs Compilation of FAQs providing guidance from NACVA’s Standards Board and Ethics Oversight Board. |
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Standards and Ethics Q&A Hotline Answers to your questions the Professional Standards. |
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Recommended Training Industry Standards and Ethics Current Update in Valuations Report Writing: Review and Analysis Litigation Report Writing Workshop Business Valuation—A Practical Approach to Advanced Issues and Applications |
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Industry Standards and Ethics Video Bulletin
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Other Resources IRS Business Valuation Guidelines Business Valuation Standards Resource Tools: Engagement Letter Templates and Checklists |
