Comparing an Entity

I've got an entity that I build, I take an instantiated entity and a modified entity. This allows me to hold the initial data, to compare against the modified data. The question, is what would be the ideal approach? Should I implement IEquatable as an override on Object.Equals or implement ICompare? My original implementation was:

var properties = typeof(TEntity).GetProperties();
foreach(var property in properties)
{
    var initialEntity = original.GetType().GetProperty(property.Name).GetValue(original, null);    
    var modifiedEntity = userChange.GetType().GetProperty(property.Name).GetValue(userChange, null);

    if(initialEntity.Equals(modifiedEntity) == false && !ignore.Contains(property.Name))
    {
        // Do Something
    }
}

My understanding was that it would return a boolean, also in this instance it would compare on Value Equality, I'm assuming though it is comparing based on reference equality.

Because it never distinguishes, it remains equal under all circumstances.