Page 52 - Family Law Services

A valuation performed for a matter before a court, arbitrator, mediator, or in a governmental or adminis-
trative proceeding is exempt from the reporting provisions of SSVS No. 1. fn 8 The exemption only ap-
plies to the reporting provisions of SSVS No. 1 and does not apply to the developmental provisions of
SSVS No. 1. The CPA should consult with the attorney to determine if local court rules differ, which
may require a full written report to be entered into evidence. SSVS No. 1 also includes appendix A, "Il-
lustrative List of Assumptions and Limiting Conditions for a Business Valuation," appendix B, "Interna-
tional Glossary of Business Valuation Terms," and appendix C, "Glossary of Additional Terms." The
CPA may also consult Interpretation No. 1, "Scope of Applicable Services," of VS section 100, Valua-
tion of a Business, Business Ownership Interest, Security, or Intangible Asset (VS sec. 9100 par. .01–
.89).

Marital dissolution matters often include forensic services provided by CPAs, as discussed throughout
this practice aid. The Statement on Standards for Forensic Services (SSFS) No. 1 (FS sec. 100) fn 9 was
issued by the Forensic and Valuation Services Executive Committee effective for all forensic engage-
ments which begin on or after January 1, 2020. The standard applies to AICPA members (or member
firms) providing forensic services.

In addition to SSVS No. 1 and SSFS No. 1, practitioners should be mindful of the standards of other or-
ganizations in which they belong.

fn 8 See paragraph .50 of SSVS No. 1.

fn 9 All FS sections can be found in AICPA Professional Standards .

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