Valuation as a profession was required to be disciplined for bringing in uniformity in the practices and procedures followed by Valuation Professionals. In this direction, the Government of India has come out with a legal framework for this niche area of practice. The Institute of Chartered Accountants of India through Valuation Standards Board has issued Valuation Standards which are first of its kind in India for financial valuation; the same Valuation Standards have also been adopted by ICAI Registered Valuers Organisation.
Further, the Valuation Standards Board of ICAI and ICAI Registered Valuers Organisation (ICAI RVO) have taken joint initiative and have brought out Series-2 of the publication ‘Valuation: Professionals’ Insight’. This publication would help the professionals in understanding various aspects of business valuation from the perspective of other professionals.