The International Valuation Standards Council (IVSC) has introduced International Valuation Standards (IVS) 2017, providing key guidance to valuation professionals, while enhancing consistency, transparency and confidence in valuations. The objective of the publication is to raise standards of international valuation practice as a core part of the financial system, for the benefit of capital markets and the public interest.
IVS have been created following an extensive consultation period from April to October 2016, during which more than 100 official comment letters on the drafts were received from a range of stakeholders, including RICs, individual professionals and academics.
Asset standards consist of five General Standards and six Asset Standards. The former ones set the requirements for the conduct valuation related tasks including terms of engagement framework, bases of value, valuation approaches and methods, and minimum report contents. Furthermore, Asset Standards include requirements related to specific types of assets and additional asset-specific requirements regarding common valuations approaches and methods used.
Download a copy of the International Valuation Standards (IVS) here