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Authoritative professional standards ― VS

section 100

• VS section 100 applies when the engagement involves estimating the

value of a subject interest including

– a business or business ownership interest,
– a security, or

– an intangible asset.

• A business includes not-for-profit entities or activities.

• A valuation engagement involves the valuation analyst and an

engagement to estimate the value of a subject interest, resulting in an
estimated or calculated value.

• The valuation analyst must comply with the AICPA Code of Professional

Conduct, VS section 100, SSFS 1, and relevant laws and regulations.

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