How it works
From enquiry to final report
Four steps, the same for every matter. What changes between a settlement valuation and a court expert engagement is the scope, the instructions and the form of the report, not the care taken.
The four steps
- 1
Tell us about the matter
Complete a confidential enquiry with basic information about the business and purpose of the valuation.
The enquiry form asks who you are, what the business is, how it is owned, what the valuation is for and where the matter stands: whether it is before the Court, whether a single expert has been agreed or ordered, and whether both parties are represented. It also asks for the other party's name and solicitor so that a conflict check can be completed before anything else is discussed. Submission does not create an engagement.
- 2
Confirm the appropriate scope
We determine whether the matter requires a settlement valuation or a court expert engagement.
We review the enquiry, complete the conflict check and consider what the report will be used for. For most negotiations and mediations the Settlement Valuation is the appropriate scope, and we confirm the fixed fee, the interest to be valued and the valuation date in an engagement letter. Where the matter is before the Court, or an expert report is expected, we review the proposed instructions and provide a written quotation for a Court Expert Valuation. Where we are not the right fit, we say so.
- 3
Provide the information
Upload the financial, ownership and operational documents through a secure process.
Once the engagement is accepted we send a checklist tailored to the business and structure. Documents are provided through the process we confirm at engagement. Business documents only: financial statements, tax returns, management accounts and the documents that show who owns what. Where something on the checklist does not exist or cannot be obtained, tell us and we will explain what can be done without it.
- 4
Receive the valuation
We analyse the business, provide a draft for factual review where appropriate and issue the final report.
The valuer reviews the structure, normalises the earnings, selects and explains the methodology, considers the risks specific to the business and the sources of its goodwill, and values the interest. For a Settlement Valuation you receive a draft for factual review before the signed final report is issued. For a Court Expert Valuation the report is delivered as the instructions direct, and reasonable written clarification following delivery is included.
Before anything begins
What happens at the conflict and scope stage
The conflict check comes first, before we discuss the matter in any detail. We check the names of both parties, their solicitors, the business and its related entities against our records. If a conflict exists we tell you promptly and do not proceed. That is why the enquiry form asks for the other party's name and solicitor even when you are enquiring alone.
Scope review follows. We consider what the valuation will be used for, where the matter stands and how the business is structured. Three questions decide most of it: is the report for negotiation and mediation, or for court; is it one business or several related entities; and are the records in a state that allows the work to be done from documents. The answers determine whether the Settlement Valuation applies, or whether a Court Expert Valuation needs to be quoted.
The outcome is a written engagement letter or quotation stating the scope, the fee, the interest to be valued, the valuation date and the expected delivery. Nothing is charged for and no analysis begins until you accept it.
What information is needed
Business documents only at the start. The checklist we send is tailored to the business, but it generally covers four groups:
Financial
- Financial statements for recent financial years, usually the last three
- Income tax returns for the business entity for the same years
- Current-year management accounts or a recent profit and loss and balance sheet
- Business activity statements where financial statements are not yet prepared
- Details of loans, leases and hire purchase arrangements
Ownership and structure
- Company constitution, ASIC company extract and any shareholder agreement
- Trust deed and any variations, and the trustee's details
- Partnership agreement
- A diagram or description of any related entities and how they connect
Operational
- Premises lease and key customer or supplier contracts
- A list of staff and contractors with roles and pay
- A description of the owner's role, hours and duties
- Any franchise, licence or regulatory registration the business depends on
Related parties
- Wages or payments to family members and what they do
- Rent, management fees or loans between related entities
- Private expenses run through the business
The draft for factual review
Before a Settlement Valuation is finalised, you receive a draft. Its purpose is narrow and worth being clear about.
What the review is for
- Correcting a figure we have misread or transposed
- Correcting a wrong ownership percentage, entity name or date
- Pointing out a document that was provided but not reflected
- Clarifying a factual description of the business or the owner's role
What it is not for
- Changing the valuation methodology
- Reweighting the risks or the adjustments
- Negotiating the conclusion or asking for a different figure
- Adding assumptions that the documents do not support
Corrections of fact can change the figure, and if they do, the final report explains why. Requests that go beyond fact are declined, courteously and in writing. Where a report is prepared as expert evidence, the handling of drafts and clarification follows the instructions and the applicable expert-evidence requirements in that engagement.
The final report
Delivery
The final report is signed by the valuer who prepared it and issued to you and, where you have authorised it, to your adviser. For a joint instruction both parties receive the same report at the same time. For a Court Expert Valuation the report is delivered as the instructions direct, with the declaration of independence and supporting schedules, and reasonable written clarification following delivery is included.
If your matter later requires an expert report for court, we will assess whether the initial work can be carried forward and provide a separate quotation before proceeding. The appointed expert must independently review the material and may require further information or analysis.
Two services, two purposes
A Settlement Valuation ($2,995 + GST, fixed fee) is prepared for negotiation, mediation and property-settlement discussions. A Court Expert Valuation (from $8,995 + GST) is prepared for matters that need an expert report for court. They are different tools for different situations, and the appropriate one depends on where your matter is and what the report will be used for.
For negotiation and mediation
Settlement Valuation
A fixed-fee independent business valuation for private negotiations, mediation and property-settlement discussions.
Fee
$2,995 + GST
Fixed fee, payable in advance.
- $2,995 + GST
- For negotiation and mediation
- Fixed scope
- Written independent report
- Generally completed within seven business days
- Not prepared as court evidence
For court proceedings
Court Expert Valuation
An independent expert report for matters where a valuation is intended for filing or reliance in court.
Fee
from $8,995 + GST
Final fee confirmed in writing after scope and conflict review, payable in advance.
- From $8,995 + GST
- For court proceedings
- Court-compliant expert report
- Subject to instructions and conflict review
- Signing valuer will be a Chartered Accountant
- Additional expert work charged separately
FAQs
Process questions
What information do you need to start?
Business documents only at first: financial statements and tax returns for recent years, current management accounts, and the documents that show who owns what, such as a company extract, trust deed or partnership agreement. We send a checklist once the scope is confirmed. Please do not send affidavits, court documents, personal correspondence, medical records or other personal evidence until we have completed the conflict check and asked for them.
What is the draft for factual review?
Before a Settlement Valuation is finalised you receive a draft so that errors of fact can be corrected: a figure we have misread, an ownership percentage that is wrong, a document we were not given. The review is for facts only. The methodology, the weighting of risks and the conclusion are the valuer's and are not open to negotiation. Where a report is prepared as expert evidence, the handling of drafts and clarification follows the instructions and the applicable expert-evidence requirements.
Do you need to visit the business?
Usually not for a Settlement Valuation, which is prepared from the documents and, where needed, a call with the owner or an adviser. Some businesses are better understood in person, particularly where plant, stock or premises matter to the value, and we will say so during scope review. Meetings are available in Melbourne, Sydney and Brisbane, and in Perth by appointment.
Will you speak directly to my lawyer or accountant?
Yes, where you authorise it. Many clients prefer that we deal with their adviser on documents, dates and the interest being valued, and referring professionals usually want direct contact. Tell us in the enquiry who we may speak to. Where a report is prepared as a single expert, communication follows the instructions and, in general, goes to both sides.
I do not know which service I need. What should I do?
Complete the confidential enquiry and choose "Not sure" for the service. Tell us whether the matter is before the Court, whether a single expert has been agreed or ordered, and what the valuation will be used for. We complete an initial conflict and scope assessment and tell you which service fits, or that a quotation is needed, before anything begins. Submission of the form does not create an engagement.
Can I start with a Settlement Valuation and move to an expert report later?
If your matter later requires an expert report for court, we will assess whether the initial work can be carried forward and provide a separate quotation before proceeding. The appointed expert must independently review the material and may require further information or analysis. Unnecessary duplication is avoided where appropriate, but the Settlement Valuation fee is not automatically credited and the expert may need further information or analysis. Many matters settle on the Settlement Valuation alone. Where an expert report was always going to be required, starting there is usually the better path, and we will say so.
How it works
Start with a confidential enquiry
Tell us about the business and what the valuation is for. We confirm the scope before anything begins.
Submission of the enquiry form does not create an engagement.