The acid value (AV) is a measure of free fatty acids in oil or fat, and indicates hydrolysis of triglycerides. The AV is determined by titrating a fat or oil sample with potassium hydroxide solution to neutralize the free fatty acids. A higher AV means more hydrolysis has occurred, which can be caused by factors like high temperature or humidity during processing and storage. The document describes the standard procedure to determine a sample's AV by titration, obtaining an AV of 0.1554 mg KOH/g fat for the provided sample.