Conclusion of Value
The highest level of assurance for regulatory compliance and business purposes. Starting at $10,000.
A Conclusion of Value provides the most comprehensive business valuation under NACVA Professional Standards. With no limitations on scope or procedures, this engagement delivers maximum credibility for high-stakes situations.
Maximum Assurance
- Regulatory-ready documentationAccepted for regulatory compliance
- Regulatory compliantMeets all regulatory standards
- 30-60+ page reportComprehensive analysis and documentation
- Professional support availableCVA can provide clarification if needed
What Is a Conclusion of Value?
A Conclusion of Value represents the highest level of business valuation under NACVA Professional Standards. Unlike other engagement types, it requires the most comprehensive analysis with no limitations on scope or procedures, resulting in the maximum level of assurance.
This engagement type is specifically designed for situations where the valuation may be challenged, scrutinized by regulatory authorities, or used in adversarial proceedings. The depth of analysis and documentation ensures your valuation will withstand rigorous examination.
Every Conclusion of Value is prepared and signed by a Certified Valuation Analyst (CVA) who can provide professional support if needed, giving you complete assistance from analysis through regulatory proceedings.
For litigation matters, additional procedures and documentation may be required. Expert witness services are available separately.
Critical for High-Stakes Situations
Regulatory bodies and compliance authorities typically require this highest level of assurance for matters such as ESOP installations, certain tax valuations, and formal dispute resolution. Using a lower-level engagement in these situations may result in rejection or challenges to your valuation.
Complete, Unrestricted Analysis
A Conclusion of Value includes every aspect of professional valuation with no procedural limitations.
Comprehensive Coverage
- All three valuation approachesIncome, market, and asset approaches fully developed
- Multiple methods within each approachEvery applicable method considered and reconciled
- Extensive comparable researchThorough analysis of guideline companies and transactions
- Economic and industry analysisDeep dive into market conditions and competitive positioning
- Site visits and management interviewsDirect observation and detailed discussions when appropriate
Detailed Documentation
- 30-60+ page comprehensive reportEvery assumption and calculation fully documented
- Detailed financial analysis5+ years normalized with ratio and trend analysis
- Extensive exhibits and schedulesComplete supporting documentation and workpapers
- Discount and premium analysisMarketability and control adjustments fully developed
- CVA certification and opinionSigned opinion letter with full professional backing
90-Minute Presentation Included
Every Conclusion of Value includes a comprehensive presentation of findings, either in-person or virtual, where we:
- Walk through complete methodology and approach
- Explain key value drivers and findings
- Answer questions from all stakeholders
- Provide guidance on using the valuation
Critical Situations Requiring Maximum Assurance
These high-stakes situations demand the comprehensive analysis and documentation only a Conclusion of Value provides.
Rigorous Process, Defensible Results
Our comprehensive process ensures every aspect is thoroughly analyzed and documented.
Engagement Process
Initial Assessment
Understand purpose, scope, and timeline requirements
Document Collection
Comprehensive gathering of financial and operational data
Analysis & Research
Deep financial analysis, industry research, comparable studies
Valuation Development
Apply all approaches and methods, reconcile to conclusion
Quality Review
Internal review and potential peer review for complex cases
Presentation & Support
Comprehensive presentation and ongoing support
Required Documentation
Financial Documents
- 5 years of financial statements (audited preferred)
- Detailed general ledger access
- Budget and forecast documents
Operational Information
- Customer and vendor contracts
- Employee agreements and compensation
- Intellectual property documentation
- Lease agreements and debt schedules
Legal Documents
- Articles of incorporation and bylaws
- Shareholder agreements
- Pending business matters information
- Prior valuation reports (if any)
Professional Support Available
Our CVA can provide professional support including deposition testimony, regulatory responses, and technical clarification for the valuation conclusions.
Support Services Include:
- Valuation Defense & Clarification
- Detailed explanations of valuation methodologies and assumptions
- Written responses to regulatory inquiries and information requests
- Technical memorandums addressing specific valuation questions
- Supplemental analysis or calculations as needed
Documentation & Review:
- Review and response to alternative valuations or opposing opinions
- Identification of methodological differences in conflicting valuations
- Supporting schedules and detailed calculation workbooks
- Additional documentation for due diligence requirements
Professional Consultation:
- Meetings with stakeholders to explain valuation conclusions
- Coordination with your legal and financial advisors
- Assistance with regulatory filing requirements
- Guidance on valuation-related negotiation points
Ongoing Support:
- Updates for material changes in circumstances
- Refresh valuations for extended transaction timelines
- Support letters for auditors or regulators
- Technical assistance throughout your transaction or compliance process
Note: Professional support services are billed separately at hourly rates. Support time varies by complexity and scope of assistance required. All support services are provided in accordance with NACVA Professional Standards and maintain the independence and objectivity of the original valuation.
Frequently Asked Questions
Why is Conclusion of Value more expensive?
The comprehensive nature requires significantly more time and analysis. There are no limitations on procedures, meaning all valuation approaches must be considered. The extensive documentation and depth of analysis required contribute to the cost. This investment provides maximum credibility and the most defensible valuation position.
Can I start with a Calculation and upgrade later?
While possible, it's not recommended for regulatory or compliance matters. Regulatory bodies often require Conclusions of Value from the start. Starting with a lower-level engagement may raise questions about why the higher level wasn't selected initially. Some regulatory requirements specifically mandate a Conclusion of Value from the outset.
How long does the process take?
Typically 3-4 weeks after receiving all documentation. Complex cases or those requiring site visits may take longer. Rush service is available for less complex engagements when possible. Even with AI assistance, a Conclusion of Value with no scope limitations requires adequate time for professional judgment, review, and quality control.
What if the other side has their own valuation?
Our Conclusion of Value is specifically designed to address conflicting valuations. We can review and analyze alternative valuations, highlighting methodological differences or inappropriate assumptions. Our comprehensive approach and documentation provide strong support for your position.
Is this required for all business disputes?
Not all business disputes require this level of valuation. Amicable resolutions with smaller stakes may use a Calculation of Value. However, high-value or contested matters typically require Conclusion of Value. Courts and regulatory bodies often specify the required level of valuation for different proceedings.
What about confidentiality?
All information is treated with strict confidentiality. We execute NDAs as needed and maintain secure data handling procedures. For sensitive matters, we coordinate with advisors regarding confidentiality and disclosure requirements. Your sensitive business information is always protected.
Ready to Discover Your Business Value?
Choose from our three service levels to get the professional valuation analysis that fits your specific needs and timeline.