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International Valuation Standards Council (IVSC)

Background

International Valuation Standards Council

The International Valuation Standards Council is the established international standard setter for valuation. Through the International Valuation Standards Board, the IVSC develops and maintains standards on how to undertake and report valuations, especially those that will be relied upon by investors and other third party stakeholders. The IVSC also supports the need to develop a framework of guidance on best practice for valuations of the various classes of assets and liabilities and for the consistent delivery of the standards by properly trained professionals around the globe.

The IVSC has published International Valuation Standards (IVS) since 1985.

Membership of IVSC is open to organisations of users, providers, professional institutes, educators, and regulators of valuation services. IVSC members appoint the IVSC Board of Trustees.

International Valuation Standards Board

The International Valuation Standards Board (IVSB) is the body that sets the standards for how to perform and report on valuations. In 2008, the IVSB replaced the former IVSC Standards Board. The IVSB shall not be less than six nor more than nine persons appointed for three-year terms (one renewal term allowed).

International Valuation Professional Board

The International Valuation Professional Board (IVPB) is responsible to promote the profession generally and to benchmark educational and professional standards for valuation. The IVPB shall not be less than six nor more than nine persons appointed for three-year terms (one renewal term allowed).

IVSC Board of Trustees

Governance, oversight, and funding of the structure are the responsibility of the IVSC Board of Trustees. Among the specific responsibilities of the trustees are:

  • appoint the members of the IVSB and IVPB
  • review annually the strategy of the IVSC and its effectiveness
  • review all applications for membership of the IVSC and put forward recommendations to the AGM
  • approve amendments to the IVSC Bylaws

Trustees are appointed for a renewable term of three years. Each Trustee is expected to have a global perspective and an understanding of how the IVSC can best operating in the world economy, business and financial reporting environments. The Board of Trustees shall not be less than six nor more than eleven persons, and Trustees are drawn from geographically diverse areas.

 

International Valuation Standards

In July 2011, the IVSC published the 2011 edition of International Valuation Standards, a comprehensive volume of all of its standards. These standards come into effect from January 2012. IVS 2011 may be purchased for £40.00 + shipping costs. To order go to the IVSC Website.

The International Valuation Standards 2011 (IVS 2011)

Contents

  • Introduction
  • Principal Changes
  • IVS Definitions
  • IVS Framework
  • General Standards
    • IVS 101 Scope of Work
    • IVS 102 Implementation
    • IVS 103 Reporting
  • Asset Standards
    • IVS 200 Businesses and Business Interests
    • IVS 210 Intangible Assets
    • IVS 220 Plant and Equipment
    • IVS 230 Real Property Interests
      Annexe - Historic Property
    • IVS 233 Investment Property Under Construction
    • IVS 250 Financial Instruments
  • Valuation Applications
    • IVS 300 Valuations for Financial Reporting
      Annexe - Property, Plant and Equipment in the Public Sector
    • IVS 310 Valuations of Real Property Interests for Secured Lending
  • Index

Contact information

International Valuation Standards Council
68 Lombard Street, London EC3V 9LJ
United Kingdom

Website: www.ivsc.org

Email: ivsc @ ivsc.org
Phone: +44 (0) 1442 879 306

Executive Director
Marianne Tissier
Email: mtissier @ ivsc.org

Related news

  • IVSC publishes guide on valuation professional organisations

  • May 02, 2013

  • The International Valuation Standards Council (IVSC) has published a guide on valuation professional organisations. The guide outlines the role of the valuation profession and the role and responsibilities of valuation professional organisations.

  • IVSC consults on valuation of investment property and public sector assets

  • Dec 03, 2012

  • The International Valuation Standards Council (IVSC) has issued two due process documents seeking feedback on valuation topics. A discussion paper has been released on the valuation of investment property (particularly in meeting the requirements of IAS 40 'Investment Property'), and an exposure draft on the valuation of specialised assets used by public sector entities for service delivery.

  • IVSC and IFAC renew their Memorandum of Understanding

  • Oct 26, 2012

  • The International Valuation Standards Council (IVSC) and the International Federation of Accountants (IFAC) have renewed their Memorandum of Understanding (MoU), which will further strengthen the collaborative efforts of both organisations in areas of common interest.

  • IVSC issues competency framework for valuers

  • Oct 02, 2012

  • The International Valuation Standards Council (IVSC) has released a paper entitled 'A Competency Framework for Professional Valuers' which seeks to facilitate the development of consistent professional standards and their recognition in the valuation profession.

  • IVSC calls for views on valuation of trade related property

  • Aug 02, 2012

  • The International Valuation Standards Council (IVSC) has released a discussion paper on the valuation of trade related property, which includes buildings or other structures that are purpose built for a specific type of business activity. Examples of trade related property include hotels, theatres and fuel stations, together with others such as bars, restaurants, casinos, clubs, and healthcare properties.

  • IVSC explores extractive industry valuations

  • Jul 19, 2012

  • The International Valuation Standards Council (IVSC) has formally launched a new project designed to provide greater valuation guidance to the mining, oil and gas industries. In a Discussion Paper being distributed to industry participants, the IVSC is seeking input on the form and scope of valuation guidance needed in the extractive industries, and consults on current practice on the types of assets being recognised and valued, valuation methodologies employed, and the recognition of intangible assets and goodwill in practice.

  • IVSC issues proposed guide to assist professional valuers who participate in the audit process

  • Jun 18, 2012

  • The International Valuation Standards Council (IVSC) has issued for comment a draft guide, The Role of the Professional Valuer in the Audit Process. The draft guide is intended to provide professional valuers with a better understanding of an auditor’s role and how professional valuers can be more effective when assisting auditors and entities during the audit process.

  • International Valuation Standards Council update

  • Dec 23, 2011

  • An update of recent developments in relation to the International Valuation Standards Council (IVSC), including access to IVSC standards, collaboration with the IASB, code of ethical principles and the IVSC work plan.

  • New IVSC appointments

  • Nov 14, 2011

  • The International Valuation Standards Council (IVSC) has announced a number of new appointments, following the annual general meeting of the organisation held in Hong Kong on 5 November 2011.

  • IVSC issues exposure draft on depreciated replacement cost

  • Feb 16, 2011

  • The International Valuation Professional Board, an independent technical body of the International Valuation Standards Council (IVSC), has released for comment an exposure draft of Technical Information Paper 2 'Depreciated Replacement Cost'.

  • IVSC issues exposure draft on real property and business valuations

  • Jan 19, 2011

  • The International Valuation Professional Board, an independent technical body of the International Valuation Standards Council (IVSC), has released for comment an exposure draft of Technical Information Paper 1 The Discounted Cash Flow (DCF) Method – Real Property and Business Valuations.

  • IVSC Issues two documents for consultation

  • Jul 20, 2010

  • The International Valuation Professional Board (IVPB) of the International Valuation Standards Council (IVSC) has released two documents for consultation, dealing with the definition of, and the code of ethics for, professional valuers.

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