VALUATION is a combination of both art and science. Though scientifically objective in its specific approaches and methodologies, valuation work can be an artfully subjective undertaking. Five valuation experts, using the same procedures, can still end up with five varying opinions due to different growth expectations, bases of assumptions and other factors. However, in a world where valuation is commonplace in financial reporting, legal disputes, and mergers and acquisitions where accuracy and dependability are necessary in assuring public trust, the question remains, 'Can we put our trust in the art of valuation?'

Philippine valuation standards and the world