A Valuation Guideline refers to best practice recommendations, which, may not be mandatory but highly recommended in the valuation of a business entity or an asset. There are various guidelines. An Example is the NACVA Professional Standards which guide the conduct of business valuation by credentialed valuators, especially Certified Valuation Analysts (CVA). Another standard is the International Financial Reporting Standards (IFRS) which is a set of common rules to ensure that financial statements are consistent, transparent and comparable around the world. The IFRS is issued by the International Accounting Standards Board (IASB).