Valuation of unquoted equity shares requires an auditor certificate stating adjusted asset value, liabilities and per-share value. Form O-12 requires the auditor to examine the balance sheet, obtain necessary information, state book value of assets, the adjusted value of assets under Schedule III valuation rules, and liabilities, disclose total paid-up equity capital, compute adjusted-net-asset per share and add paid-up value to arrive at per-share value, and sign and date the certificate; assets not covered by Schedule III are valued at open-market price.