A valuation report prepared by a Chartered Business Valuator must provide one of three levels of service:

Comprehensive Valuation Report – a conclusion as to the value of shares, assets or an interest in a business based on a comprehensive review and analysis of that business, its industry and all other relevant factors, adequately corroborated and generally set out in a detailed Valuation Report.

Estimate Valuation Report – a conclusion as to the value of shares, assets or an interest in a business based on a limited review, analysis and corroboration of relevant information, and generally set out in a less detailed Valuation Report.

Calculation Valuation Report – a conclusion as to the value of shares, assets or an interest in a business based on minimal review and analysis and little or no corroboration of relevant information, and generally set out in a brief Valuation Report.

The determination of the appropriate level of service depends on the purpose of the value indication and the intended user(s). A Comprehensive Report carries the highest cost with a substantially greater independent analysis of the business, industry and relevant economic conditions, and detailed reporting. This level of service is most appropriate for court hearings or public reporting. A Calculation Report carries the lowest cost but has a lower level of assurance. The valuator relies more on management’s information as opposed to independent research and analysis. This level of service is more appropriate for internal management decisions requiring broad range valuation advice. An Estimate Report is the most commonly provided level of service and is appropriate for most users. The valuator conducts a significant amount of external research and analysis, balanced with management information. The report outlines the major considerations allowing the reader’s understanding without in-depth detail.