Qualifications to provide professional business valuation services in Australia
In Australia, no specific qualifications are required to provide professional business valuation services. In practice, the majority of business valuations are prepared by accountants, in particular qualified professional accountants.
This is because most clients requiring a valuation service rightly assume that a professional business valuer needs to hold an in-depth expertise in accounting, finance, taxation, business law and business in general, all the areas a professional accountant is adept at.
Furthermore, qualified accountants who are members of professional accounting bodies such CPA Australia, Chartered Accountants Australia and New Zealand and the Institute of Public Accountants, shall follow the mandatory requirements of professional and ethical standards issued by the Accounting Professional & Ethical Standards Board (APESB) when they provide accounting and valuation services. These APESB standards include APES 110 Code of Ethics for Professional Accountants and APES 225 Valuation Services and oblige members to comply with the following fundamental principles when providing professional services:
- Professional Competence and Due Care,
- Confidentially, and
- Professional Behaviour.
By Julia Podgorbunskaya, CPA, Senior Business Valuer at Professional Business Valuers
(61) 02 4295 0079