Latest news on company valuation in the DACH region

An assessment of professional statements

Company valuation in Germany, Austria, and Switzerland is undergoing change, with the three countries setting different priorities. This article outlines the current situation and discusses the consequences for valuation practice.

Preliminary remarks

The rules governing company valuation in the DACH region are changing: in Switzerland, the “Fachmitteilung Unternehmensbewertung” (FM UBW) was published in 2022. In Austria, the final version of KFS/BW 1 was presented at the end of 2025, and in Germany, the draft of the revised version of IDW S 1 is now available.

Announcements regarding company valuations in the DACH region

While accounting standards in the EU have been harmonized to a noticeable extent, similar efforts in the area of business valuation were abandoned at an early stage. Business valuation is a national matter that is primarily dealt with by professional organizations. In Switzerland, this is Expertsuisse, in Germany the Institute of Public Auditors (IDW), and in Austria the Chamber of Tax Advisors and Public Auditors (KSW).

All organizations have issued technical statements, but these differ in their designation and binding effect: IDW S 1 (Principles for the Performance of Business Valuations) is expressly a “standard” that is also recognized by case law as the guiding opinion on business valuation in Germany. FM UBW is not a standard in formal terms, but rather a recommendation. However, there is “a presumption that a company valuation in accordance with the technical notice is also proper.” The “technical report” KFS/BW 1 (Company Valuation) occupies a position in Austria comparable to that of IDW S 1 in Germany and is considered the central reference for the proper performance of company valuations.

While Expertsuisse published the revised FM UBW in 2022, the IDW and KSW initially presented drafts of the new versions at the end of 2024. At the end of 2025, the KSW adopted the final version of the Austrian expert opinion. At the time of submission of this article, the IDW is still in consultation. The authors discuss the practical differences between the current versions (Switzerland and Austria) and the draft (Germany) and report on the current status. The final version of IDW S 1 will be discussed in a follow-up article.

Read the full article from EXPERT FOCUS February|2026 here.