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Summary Reports

Summary reports are shorter than a detailed report, but at the same time must include an introduction similar to a detailed report which clearly states the summary report is abbreviated. The summary report must state the sources of information utilised within the summary valuation report, the valuation approach and the valuation methods used, It must include a representation buy the valuer regarding his valuation qualifications, a conclusion of value and  also list the appendices to the report.

What is missing from a summary report which a reader would find in a detailed report?

Firstly, there may not be a letter of transmission, there will be no table of contents, no analysis of the subject entity, there may not be a financial statement and information analysis, no discussion on the types of valuation approaches and methods which the valuer could choose from (only the one which is used).

No valuation adjustments, nor any discussion on non operating assets and liabilities oe excess or deficient operating assets. It may not list the qualifications of the valuer.  

When are summary reports appropriate? When the client's lawyer issues instructions to produce only a summary report.

When are summary reports not appropriate? When the client is unsophisticated.

So therefore the decision the client must make is to decide whether a summary report is sufficient in the circumstances or whether a detailed report is required. Your Business Valuer Network expert is available to talk this issue through with you and help you arrive at the appropriate decision.

For more information on the correct type of report appropriate to your situation, contact the Business Valuer Network co-ordinator Graham O'Hehir on support@businessvaluer.net.au



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