Page 12 - Business Valuation for Estates & Gift Taxes

should ensure that all procedures and documentation be conducted in accordance with the professional
standards such as VS section 100, as well as federal and state regulations.

Conclusion

Valuation analysts who invest the appropriate amount of time and effort into understanding the scope
and risks of a valuation engagement will help establish a foundation for preparing reasonable and sup-
portable conclusions of value. A critical part of that process is conducting all valuation engagements in
compliance with established professional standards which will help protect the client’s interests as well
as the professional reputation of the valuation analyst.

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