Scoping & purpose
We confirm the purpose of the valuation (transaction, reporting, tax, dispute), the standard of value, the valuation date and the recipients of the report.
Service · Valuation Services
Independentvalue,defensiblenumbers.
Independent business, equity and intangible asset valuations for transactions, reporting and strategic decisions — with the methodology, assumptions and sensitivities documented to the standard auditors and counterparties expect.
Six situations where an independent valuation matters.
Most valuations are triggered by a transaction, a financial report or a board decision. These are the ones we are asked to produce most often.
We’re acquiring a business and need an independent valuation.
Buy-side equity and enterprise valuation with the methodology, assumptions and sensitivities documented to a standard that holds up to seller and lender scrutiny.
How we helpWe’re selling shares or the company and need a defensible number.
Sell-side valuation aligned to the deal structure — informing the asking price, the negotiation range and the position the board signs off on.
How we helpWe need a Purchase Price Allocation after a completed acquisition.
PPA exercises identifying and measuring the acquired intangible assets, goodwill and contingent consideration — in line with IFRS 3.
How we helpWe’re restructuring the group and need internal share valuations.
Valuations for share-for-share exchanges, contributions in kind and inter-group transfers — with the tax and accounting consequences considered up front.
How we helpWe need a fairness opinion for the board or minority shareholders.
Independent fairness opinions on the financial terms of a transaction, drafted to the standard expected by directors, shareholders and regulators.
How we helpWe’re reporting under IFRS and need fair value support.
Valuations supporting impairment testing, financial instrument measurement and disclosure under IFRS 13 — coordinated with the audit team where relevant.
How we help
Scope of work
Five engagements, each with concrete deliverables.
Select an engagement to see what is included, what you receive and how the work is delivered.
Enterprise and equity valuations for transactions, restructurings and strategic decisions — built on three calibrated methodologies and a defensible weighting.
What you receive
- Discounted cash flow model
- Trading and transaction multiples
- Net asset / liquidation cross-check
- Sensitivity and scenario analysis
Approaches
Three methodologies, calibrated and reconciled.
Every conclusion of value reconciles at least two of the three classical approaches. We choose, weight and document the methods that fit the asset and the purpose of the valuation.
Income approach
Value derived from expected future cash flows.
Used when the business or asset has a reasonably forecastable income stream — the primary method for most operating businesses and many intangibles.
- Discounted cash flow (DCF)
- Relief-from-royalty
- Multi-period excess earnings
- Capitalisation of earnings
Market approach
Value benchmarked against comparable transactions and listed peers.
Used as a primary or cross-check method where comparable data exists — particularly for mature sectors and assets traded in observable markets.
- Trading multiples (listed peers)
- Transaction multiples (precedents)
- Industry rules of thumb (sanity check)
- Public-to-private adjustments
Cost approach
Value based on the cost to recreate or replace the asset today.
Used for asset-heavy entities, early-stage businesses and intangibles where replacement cost is observable and income-based methods are not reliable.
- Net asset value (book and adjusted)
- Replacement / reproduction cost
- Liquidation value (orderly & forced)
- Cost-to-recreate for intangibles
Independent valuations, delivered and defended.
Conclusions of value that stand up at audit committee, in front of counterparties and through regulator review — across sectors, jurisdictions and reporting frameworks.
- 01120+Valuations completedEquity, intangibles and PPA engagements across the practice
- 0218Sectors coveredFrom shipping and real estate to technology, financial services and ICT
- 039JurisdictionsCross-border work coordinated through Russell Bedford International
- 04100%Defended at auditEvery PPA and fair-value file has cleared audit and review on first pass
Reporting frameworks we work to
- IFRS 3 — Business Combinations
- IFRS 13 — Fair Value Measurement
- IAS 36 — Impairment of Assets
- IFRS 9 — Financial Instruments
- International Valuation Standards (IVS)
- Cyprus Companies Law & tax filings
How we work
A partner-led path from scoping to a defensible conclusion.
Information & due diligence
We gather and challenge the financial information, business plan and market data — reconciling figures with management and the audit team where relevant.
Analysis & modelling
We build the models — DCF, multiples and asset-based as needed — calibrate the assumptions and run the sensitivity and scenario analysis behind the conclusion.
Report & defence
We deliver the written report, present to the board or audit committee and stand behind the conclusion through audit review, regulator queries or transaction negotiations.
Who it’s for
Built for acquirers, corporates, finance teams and boards.
Acquirers & sellers
Buy-side and sell-side parties needing an independent number to anchor pricing, negotiation and the board approval that follows.
Corporates & groups
Companies undertaking restructurings, share-for-share exchanges, capital reductions or internal transfers that require defensible internal valuations.
Financial reporting teams
CFOs and finance teams needing fair value support for IFRS reporting, impairment testing and Purchase Price Allocation after acquisitions.
Boards & shareholders
Boards, special committees and minority shareholders requiring an independent fairness opinion on the financial terms of a transaction.
Standards
Regulated, accredited, internationally connected.
ICAEWInternationally recognised body for chartered accountants — credentials underpinning the firm’s valuation and advisory work.
ACCAGlobal professional body for accountants — our partners and senior team hold ACCA and FCCA credentials.
ICPACThe competent authority licensing accounting and advisory practice in Cyprus. A.T.N. & Partners is a fully licensed ICPAC member firm.
Russell Bedford InternationalMember firm since 2017 — coordinated cross-border valuation and transaction work through 700 partners and 300 offices in more than 100 countries.
Engage
Tell us the purpose, and we will quote the whole engagement.
One brief on the asset, the deal or the reporting requirement and a partner will reply within one business day with scope, fee and the named team that will run the valuation.
EngagementsEquity · Intangibles · PPA · Fairness opinions
MethodsIncome · Market · Cost · Hybrid
FrameworksIFRS 3 · IFRS 13 · IAS 36 · IVS
Coordinates withAudit · Tax · Advisory · Corporate
OfficeNavarino Business Centre, 18 Navarinou Street, Nicosia
Request a proposalProfessional resources
For financial reporting standards and Cyprus professional guidance, consult the IFRS Foundation and ICPAC. These sources provide general context; contact our team for advice on your circumstances.