The purpose of this Standard is to establish standards and to provide guidance on the performance of an independent business valuation engagement and the preparation of an independent business valuation report.

This Standard applies when a member is providing a business valuation report in the role of an independent business valuer. While the scope of this Standard is limited to independent business valuation engagements by members of the Institute of Chartered Accountants of New Zealand, much of the guidance contained in this Standard may be of relevance to other business valuation engagements and to other business valuers.