Abstract This paper reports a summary of the studies on the mechanisms that govern the generation of hydrides and other volatile species through reaction with aqueous boranes (CVG). This derivatization reaction has been used since the early 1970s for elemental determination and speciation from the trace level down to the ultratrace level and below. An IUPAC project, concluded in 2011, reported on the mechanisms of hydrogen transfer from borane to the analytical substrate and served to remove erroneous concepts that had dominated CVG until the early 2000s. Following the conclusion of the IUPAC project, many studies have been published on the mechanisms of CVG under conditions approaching those of analyzes of real samples. These studies included the definition of more general reaction models, which valid under non-analytical conditions, the mechanism of action of additives and interferences in CVG of volatile hydrides. In addition to the analytical utility for CVG, the results represent a contribution to the knowledge of the chemistry of aqueous boranes. Other studies will be necessary to clarify still unknown aspects, among them the identity of volatile transition metal species formed by reaction of metal ions with aqueous boranes.