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AICPA issues proposed framework for financial instrument valuation professionals

  • AICPA document Image

Jul 10, 2017

The AICPA has issued a proposed disclosure framework, and related proposed application guidance, for the valuation of financial instruments.

The proposed framework, Disclosure Framework for the Valuation of Financial Instruments and the Certified in Valuation of Financial Instruments (“CVFI”) Credential, provides requirements related to “how much support, in terms of scope of work and documentation, should be prepared or obtained when designing, implementation, and conducting valuations of financial instruments used for management assertions made in financial statements or other reports issued for financial reporting or other purposes.”

The proposed application document, Application of the Disclosure Framework for the Valuation of Financial Instruments and the Certified in Valuation of Financial Instruments (“CVFI”) Credential, which will “continue to evolve and expand,” provides “guidance on how much work, what level of rigor, and what extent of documentation are required when performing valuation assignments for financial reporting purposes.”

Comments on both documents are due by September 27, 2017. For more information, see the disclosure framework page on the AICPA’s Web site.

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