Certified Public Accountants carry a significant responsibility when valuing a company. Their clients expect expert opinions they can trust, and they are also relied upon for their expertise in auditing annual financial statements according to IFRS and HGB.
The quality of valuation data is paramount in this context. However, obtaining such data is not straightforward: traditional databases are often both expensive and difficult to use without specialized knowledge.
The potential consequences of relying on inaccurate data underscore the importance of using reliable sources:
On the one hand, chartered accountants face a liability risk if they issue inaccurate valuations. Additionally, reputational damage or loss of clients can occur if they are unable to conduct valuations independently. Moreover, accurate data is essential for auditing annual financial statements.
Those who now rely on publicly available data risk using inaccurate information. While professional databases offer the required quality, they are often either costly or not designed for valuation purposes.
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