It arose out of the property crash in the early 1990s, whereby banks were suing valuers for overpricing houses in order to recover the lost market value.
Regardless of the fact, over 80% of valuers tend to be employed by valuation or consulting companies, and thus do not enter practice as stand-alone individual entrepreneurs.
The valuer may adjust the subject companys financial statements to facilitate a comparison between the subject company and other businesses in the same industry or geographic location.
