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SVB Analytics Announces Early Adoption of the AICPA Statement on Standards for Valuation Services ("SSVS")
Company news | August 13, 2007
SANTA CLARA, Calif. - August 13, 2007 - SVB Analytics, a provider of valuation and corporate equity management services and a member of SVB Financial Group (Nasdaq: SIVB), announced it has pro-actively adopted the American Institute of Certified Public Accountants' (AICPA) recently issued Statement on Standards for Valuation Services (SSVS) nearly four months ahead of the January 1, 2008, effective date. This move further enhances the company's position as the leading valuations service provider for IRC Section 409A and FAS 123R compliance.
The SSVS is designed to promote consistent practice among CPAs performing valuation services and provide adequate disclosures for users of these services. The standards also highlight the rigorous methodologies that underpin a valuation report.
"Adoption of the SSVS is a natural extension of SVB Analytics' already comprehensive review and reporting process," says Jim Anderson, president of SVB Analytics. "The standards are a welcome rulebook in light of the varied methodologies currently deployed to value common stock for private companies. Our clients can continue to feel confident that they have selected a firm that can help them ensure compliance with these difficult regulations."
More information about the SSVS can be found at www.aicpa.org/bvstandard.
About SVB Analytics
SVB Analytics offers valuation and corporate equity administration services to SVB Financial Group's core constituencies of private, venture capital-backed companies and venture capital firms. SVB Analytics' initial services offerings include fair market 409A valuations and corporate equity tracking and administrative services. SVB Analytics is a member of global financial services firm SVB Financial Group, with SVB Silicon Valley Bank, SVB Capital, SVB Global and SVB Private Client Services, which serve the unique needs of technology, life sciences and private equity firms.
SVB Analytics is a non-bank affiliate of Silicon Valley Bank and a member of SVB Financial Group. Products and services offered by SVB Analytics are not FDIC insured and are not deposits or other obligations of Silicon Valley Bank. Silicon Valley Bank is a member of the FDIC and the Federal Reserve and it is the California bank subsidiary of SVB Financial Group, which is also a member of the Federal Reserve.
The SSVS is designed to promote consistent practice among CPAs performing valuation services and provide adequate disclosures for users of these services. The standards also highlight the rigorous methodologies that underpin a valuation report.
"Adoption of the SSVS is a natural extension of SVB Analytics' already comprehensive review and reporting process," says Jim Anderson, president of SVB Analytics. "The standards are a welcome rulebook in light of the varied methodologies currently deployed to value common stock for private companies. Our clients can continue to feel confident that they have selected a firm that can help them ensure compliance with these difficult regulations."
More information about the SSVS can be found at www.aicpa.org/bvstandard.
About SVB Analytics
SVB Analytics offers valuation and corporate equity administration services to SVB Financial Group's core constituencies of private, venture capital-backed companies and venture capital firms. SVB Analytics' initial services offerings include fair market 409A valuations and corporate equity tracking and administrative services. SVB Analytics is a member of global financial services firm SVB Financial Group, with SVB Silicon Valley Bank, SVB Capital, SVB Global and SVB Private Client Services, which serve the unique needs of technology, life sciences and private equity firms.
SVB Analytics is a non-bank affiliate of Silicon Valley Bank and a member of SVB Financial Group. Products and services offered by SVB Analytics are not FDIC insured and are not deposits or other obligations of Silicon Valley Bank. Silicon Valley Bank is a member of the FDIC and the Federal Reserve and it is the California bank subsidiary of SVB Financial Group, which is also a member of the Federal Reserve.