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PwC Calls for New Approach to Valuations

Tammy Whitehouse | November 26, 2013

The largely unregulated valuation profession could use a shake-up, in the view of some who rely on valuations to achieve regulatory compliance.

PwC recently published two white papers calling on the valuation profession to up their game in terms of unifying themselves under a single professional framework and improving their standards. The financial reporting world needs greater quality and consistency, the Big 4 firms says, as financial reporting grows increasingly reliant on valuations to help prepare and audit financial statements steeped in fair value measurements. One paper focuses on the need for the valuation profession to unify itself under a single professional infrastructure, while the other addresses the need for better valuation standards.

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