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The Institute of Chartered Accountants of India has released an advisoryto follow the ICAI Valuation Standards 2018 while conducting any type of Valuation Engagement to ensure uniformity and transparency. Read the official advisory released below: Valuation Standards Board The Institute of Chartered Accountants of India 21st December, 2020 ANNOUNCEMENT Sub: Advisory to follow the ICAI Valuation Standards 2018 while conducting any type of Valuation Engagement to ensure uniformity and t
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FAQ :
The ICAI advisory urges members to follow the ICAI Valuation Standards 2018 for all valuation engagements to ensure uniformity and transparency.
The ICAI Valuation Standards 2018 are effective for valuation reports issued on or after 1st July 2018.
The ICAI Valuation Standards are mandatory for members undertaking valuation engagements under the Companies Act 2013. For valuations under other statutes like Income Tax, SEBI, and FEMA, they are recommendatory.
The standards aim to promote best practices, provide a framework for chartered accountants, and ensure uniformity in approach and quality of valuation output.
The advisory was issued by the Institute of Chartered Accountants of India (ICAI).
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