They provide information about a person’s or company’s net worth, calculated by subtracting liabilities from assets. Networth certifications are vital in situations where financial status is relevant.

Some real-life examples are given below:

• Individual Net Worth: Helps to understand your personal financial situation, plan for the future, or fulfill legal or regulatory requirements.
• Corporate Net Worth: Showcase your financial strength and credibility to potential partners, investors, or lenders
• Business Valuations: Determine the value of a business or its assets, especially during mergers, acquisitions, or investment evaluations.
• Compliance Requirements: As part of the regulatory process, net-worth certifications are sometimes mandatory.