How Much Does a Formal CBV Valuation Cost in Canada?

There is no published survey of what Chartered Business Valuators (CBVs) charge in Canada, so treat any single price range you see as one firm's estimate rather than a market figure. What you pay depends mainly on the level of report you need, how complex the business is, and what the valuation is for. CBV Institute's practice standards recognize three levels of valuation conclusion — Calculation, Estimate and Comprehensive — and the Calculation level involves the least extensive scope of work (CBV Institute practice standards, effective for engagements from January 1, 2026). The reliable way to know the cost is to ask two or three CBVs for a written quote based on your purpose and your financial records.

Why there's no single price for a CBV valuation

A CBV's fee reflects the work the engagement needs. The biggest driver is the level of conclusion. Under the CBV Institute's standards, the valuator's scope of work (review, inquiry, analysis and corroboration) is driven by the valuation's intended purpose and users, and even a Calculation-level report must support its significant inputs and assumptions (CBV Institute practice standards). A report meant to stand up to scrutiny from a buyer's advisors, a tax authority or a court needs a more extensive scope than one used for internal planning, and costs more.

When the engagement requires expert witness testimony or litigation support, or involves a large enterprise with a complex financial structure, expect the fee to rise accordingly. CBVs are accredited by CBV Institute, the Canadian professional body for business valuation.

What Affects the Price of a CBV Report

Several factors influence the final cost of a CBV engagement:

• Level of report: Calculation, Estimate or Comprehensive, depending on who will rely on the conclusion and for what
• Business complexity: Companies with multiple revenue streams, subsidiaries, or complex capital structures require more extensive analysis
• Financial statement quality: Well-maintained financial statements reduce the time required for review and normalization adjustments
• Industry-specific risk factors: Certain industries require specialized knowledge and research into comparable transactions or industry benchmarks
• Purpose of the valuation: Tax reorganizations, estate freezes, and litigation support engagements require additional documentation and defensibility
• Expert witness testimony: If the CBV must provide testimony in court proceedings or regulatory hearings, fees increase substantially

When you ask for quotes, give each CBV the same information: the purpose, the report level you think you need, and your last few years of financial statements. Ask whether the quote is fixed or based on hours, and what would change it.

CBV Report vs. Broker Opinion of Value (BOV)

A broker opinion of value is a much lighter exercise. Some brokers charge a fee for preparing one and apply it against their commission if you list with them (IBBA, Your Guide to the Business Brokerage Profession, 2021). Most business sales for third-party arm's-length transactions do not require a formal CBV valuation — sellers typically rely on market-based pricing from their M&A advisor or business broker.

A CBV valuation is an independent opinion of value prepared under the CBV Institute's practice standards. A BOV, by contrast, is an informal market estimate used primarily for listing price guidance and initial buyer conversations. It does not carry the same regulatory or legal weight.

When You Need a Formal CBV Valuation

CBV valuations are commonly used for tax planning such as estate freezes and tax reorganizations, for shareholder agreements with buy-sell provisions, and in disputes such as matrimonial proceedings involving business assets and shareholder oppression claims. Ask your lawyer or accountant whether your situation calls for one.

For a standard third-party sale where the buyer and seller are negotiating at arm's length, a CBV valuation is rarely necessary. The market price — supported by comparable transactions and buyer interest — determines value in those situations.

How Long Does a CBV Engagement Take

The timeline depends on the level of report and on how quickly you provide complete financial statements, tax returns, and supporting documentation. Litigation-related engagements and complex multi-entity structures take longer. Ask each CBV for an estimated delivery date along with the quote.

This article is for informational purposes only and does not constitute financial, legal, or business advice. Every business sale is different. Before making decisions about valuation, pricing, or engaging an advisor, consult a qualified professional familiar with your specific situation.

Need a business valuation? Connect with valuation professionals in Canada →