What Is the IVSC?


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.

Valuations Under International Financial Reporting Standards

Click here to download the March 2007 IVSC Position Paper Valuation Under IFRS (PDF 74k).

International Valuation Standards 2011

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.

Contents of the ninth edition, IVS 2011:

  • 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

International Valuation Standards 2007

In August 2007, the IVSC published the 2007 edition of International Valuation Standards, a comprehensive volume of all of its standards. These standards remain effective until January 2012.

Contents of the eighth edition, IVS 2007:

  • Introduction
    • Background to the International Valuation Standards Committee and the Standards
    • Concepts Fundamental to Generally Accepted Valuation Principles (GAVP)
    • Code of Conduct
    • Property Types
  • International Valuation Standards
    • IVS 1 Market Value Basis of Valuation
    • IVS 2 Bases Other Than Market Value
    • IVS 3 Valuation Reporting
  • International Valuation Applications
    • IVA 1 Valuation for Financial Reporting
    • IVA 2 Valuation for Secured Lending Purposes
    • IVA 3 Valuation of Public Sector Assets for Financial Reporting
  • Guidance Notes
    • GN 1 Valuation of Real Property
    • GN 2 Valuation of Lease Interests
    • GN 3 Valuation of Plant and Equipment
    • GN 4 Valuation of Intangible Assets
    • GN 5 Valuation of Personal Property
    • GN 6 Business Valuation
    • GN 7 Consideration of Hazardous and Toxic Substances in Valuation
    • GN 8 The Cost Approach for Financial Reporting-(DRC)
    • GN 9 Discounted Cash Flow (DCF) Analysis for Market Valuations and Investment Analyses
    • GN 10 Valuation of Agricultural Properties
    • GN 11 Reviewing Valuations
    • GN 12 Valuation of Specialised Trading Property
    • GN 13 Mass Appraisal for Property Taxation
    • GN 14 Valuation of Properties in the Extractive Industries
    • GN 15 Valuation of Historic Property
  • Glossary
  • Index

There is more information in August 2007 IVSC eNews Issue 18 (PDF 132k) – IVSC releases 2007 edition of International Valuation Standards.

Updates

January 2007: Restructuring of the IVSC is proposed

The IVSC has embarked on a proposed major restructuring process not unlike that undertaken by the International Accounting Standards Committee in the late 1990s that led to the creation of the International Accounting Standards Board. The restructuring proposals have been developed by a Governance Group established by the IVSC Management Board. The key recommendations of the Group are:

  • That a new International Valuation Standards Board (IVSB) be created as an independent and autonomous decision making body with up to nine compensated (full-time or part-time) members. Concurrently, an International Valuation Standards Interpretations Committee would be created as an arm of the IVSB;
  • That the IVSC be renamed the International Valuation Standards Council. It would remain a membership based organisation but the criteria for membership would be broadened beyond national professional valuation institutes to include valuation companies, national standard setters, users of valuations, academics and others. IVSC members would provide input to the IVSB.
  • That an elected Board of Trustees would have responsibility for oversight of the work of the IVSC and IVSB. Responsibility would include appointment members of the IVSB and Interpretations Committee, ensuring adequate funding and resources, and protecting the Board's independence and integrity.
  • That a new International Valuation Professional Board (IVPB) be created to develop criteria for the education of and professional practices of valuation practitioners.

The IVSC has invited comments on the proposals by 9 March 2007. A special meeting of the IVSC will be held in San Francisco on 12 April 2007 when member bodies of the IVSC will be asked to approve the restructuring proposals. If accepted, the proposed structure would come into effect on 1 January 2008. Click to download the Proposal for the Restructuring of the IVSC (PDF 579k).

April 2007: Restructuring of IVSC is approved

Members of the IVSC have voted unanimously to proceed with the restructuring of the organisation, as proposed in January 2007. The restructuring includes creation of a global valuation standards board. The new IVSC structure will be "similar to the IASB model where the Standards Board is the focal point or the heart and soul of the organisation rather than an organisation of valuation organisations". There will also be an interpretations committee and a management board of trustees entrusted strictly with the management and financial health of the organisation.

July 2007: Views sought on format of International Valuation Standards

The IVSC has issued for comment the report of a group brought together to undertake a critical review of the structure and format of International Valuation Standards (IVS). Concurrently the IVSC is engaged in a project to modernise its own organisational structure (see above). The report on IVSs, titled Review of the International Valuation Standards (PDF 128k), sets out the review group's views on the format of an 'ideal' set of international valuation standards. The report raises a number of specific questions on which views are sought (see below). The comment deadline is 31 October 2007.

Issues on which IVSC is seeking comment:
Question 1
The Group recommends that the IVS be principles-based and interprets this as meaning that the standards should contain the requirements to be complied with together with essential explanatory material to make the requirements understandable by an experienced professional valuer. Do you agree with this recommendation?
Question 2
Valuations are performed in a variety of contexts – from financial reporting, lending purposes, business acquisitions to tax and litigation services. The Group believes that the same concepts, definitions and principles apply to all valuations whatever their purpose although there may be differences in their application and reporting. Do you agree with the Group?
Question 3
The Group believes that the primary role of the IVS is as a body of international standards in their own right to meet the needs of the global market place and to provide a basis for the convergence of national standards to international valuation standards. It therefore recommends that the IVS should not cover areas that are still subject to significant national regulation, for example valuation for taxation purposes.... Do you agree with the Group?
Question 4
The Group acknowledges that different jurisdictions will take different routes to the same destination of a single set of global valuation standards. While this is understandable, the Group recommends that the IVSC should seek to introduce a similar requirement to that of the International Financial Reporting Standards; i.e. that valuation reports should not be said to comply with IVS unless they comply with all the requirements of IVS. Do you agree that the IVSC should introduce such a requirement?
Question 5
Do you agree that the proposed structure for the IVS will provide for clear navigation through the standards to determine the valuation and reporting bases for a particular asset/liability and purpose?
Question 6
A number of specific questions have been raised by the Group on the proposed structure for the IVS on which comment is sought:
  • 6(a) The forthcoming eighth edition of IVS will define 'fair value' in International Valuation Standard 2 Valuation Bases other than Market Value. Do you consider that this is sufficient or should the IVSC develop a Standard on Fair Value as a separate basis of valuation?
  • 6(b) The proposed structure for the IVS discusses the application of GAVP and the basis of valuation to specific asset and liability types before considering their application to the specific purposes of valuation. Some members of the Group believed that this order should be reversed. What are your views?
  • 6(c) A number of topics have been proposed to be covered by additional more detailed guidance notes. Do you agree with the list? Are there other issues that should be considered?
Questions 7 and 8
[These relate to the format of IVSs and recommendations for clarity of the standards.]

November 2007: IVSC moves forward with restructuring

In November 2007, the IVSC board and membership approved a comprehensive restructuring that will enable it to become an independent standard setting organisation that can develop International Valuation Standards for assets and liabilities. The IVSC had proposed the restructuring in January 2007 (see above).

Key features of the IVSC restructuring plan are as follows:
  • IVSC remains a non-profit organisation incorporated in United States.
  • IVSC acronym is retained but the name changed to the International Valuation Standards Council.
  • The organisation will have three main bodies:
    • A Board of Trustees responsible for the strategic direction and funding of the IVSC.
    • A Standards Board appointed by the Trustees, but with autonomy over its agenda and the creation and revision of standards.
    • A Professional Board appointed by the Trustees to assist in the development of high quality practices by the world's valuers and development of the profession in developing countries.
  • Membership of the IVSC will be broadened beyond national professional valuation institutes to include valuation companies, government, valuation end-users, and academia.
  • Current IVSC directors remain in post for the transitional period November 2007 to May 2008, with responsibility for day to day management of the IVSC.
  • During the November to May period, an advisory board, to be known as an interim Board of Trustees, will be established to oversee the IVSC restructuring process and business plan. Funds raised will be independently controlled by the group and released in accordance with the IVSC restructuring proposal. Michael Sharpe, former Chairman of the International Accounting Standards Committee, will be a Trustee. Mr Sharpe was also a member of IASC's Strategy Working Party that developed proposals leading to the creation of the IASB.
Click for IVSC Announcement (46k).

February 2008: IVSC announces interim board of trustees

On 14 February 2008, the International Valuation Standards Committee announced its interim board of trustees that will oversee the restructuring of the IVSC. The restructuring was announced in November 2007 (see above). The restructuring will transform IVSC into an independent standard setting organisation that will develop International Valuation Standards acceptable to the international capital markets. Here is the Press Release on Interim Trustees (PDF 82k).

November 2008: New valuation standards board is appointed

Over the past year, the overall structure for establishing International Valuation Standards (IVS) has been reorganised. Within the new structure – known as the International Valuation Standards Council (IVSC) – the International Valuation Standards Board (IVSB) is the new body that sets the standards for how to perform and report on valuations. The IVSB replaces the outgoing IVSC Standards Board. A second body in the new structure is the International Valuation Professional Board (IVPB). The IVPB's responsibilities are to promote the profession generally and to benchmark educational and professional standards for valuation. The members of the new IVSB and IVPB have just been appointed. Also, the outgoing standards board has prepared a transition memo to advise the new board of the status of its current projects and to make recommendations as to future projects and activities, including liaison with the IASB. Click for:

5 March 2009: New IVSC board of trustees

` On 4 March 2009, the International Valuation Standards Council announced the appointment of a new Board of Trustees, chaired by Michel Prada, formerly chairman of the French securities regulator, the Autorité des Marchés Financiers. The Trustees oversee the work of the International Valuation Standards Board, which develops global standards for performing and reporting on valuations, and the International Valuation Professional Board, which develops professional and educational standards for valuers. Click for IVSC Press Release (PDF 44k).

3 June 2010: IVSC proposes major revisions to valuation standards

The International Valuation Standards Council (IVSC) has published an exposure draft (ED) of proposed new International Valuation Standards (IVS). The ED would be the ninth edition of the comprehensive bound volume of IVSs, with substantial changes from previous editions (see chart below). These standards cover valuations for most types of assets, including for the first time a proposed standard for financial instruments. The standards also reflect current developments in IFRSs. Here is an overview of some of the most signifiant changes to IVS proposed in the ED:

Existing IVSProposed new edition
Concepts Fundamental to Generally Accepted Valuation Principles (GAVP)The generic valuation principles have been carried forward into the proposed IVS 101. Other material discussing market value and land and property has been merged into IVS 103 and IVS 303.01.
Code of ConductRemoved.
Property TypesNot directly replicated. Some elements included in individual asset standards.
Introduction to IVS 1,2,3Not directly replicated. Elements included in IVS 101,103 and 105.
IVS 1 Market Value and IVS 2 Other Bases of ValueMerged into new IVS 103.
IVS 3 Valuation ReportingPrinciples carried forward into IVS 105.
IVA 1 Valuations for Financial ReportingNow included in IVS 201.01 to 201.04. Material updated and extended to reflect developments in IFRS.
IVA 2 Valuations for Secured LendingMade specific to property and most material carried forward to IVS 202.01.
IVA 3 Valuation of Public Sector Assets for Financial ReportingTitle changed to reflect content and carried forward to IVS 201.05.
GN1 Real Property Valuation and GN2 Lease InterestsElements carried forward and merged into IVS 303.01.
GN3 Valuation of Plant and EquipmentUpdated and carried forward to IVS 302.01.
GN4 Valuation of Intangible AssetsThis was replaced by a revised and extended GN4 published in February 2010. This contained comprehensive guidance on intangible assets. The proposed new standard IVS 301.02 is based on the revised GN4, but the more detailed guidance has been omitted. This will be incorporated into a future Technical Information Paper.
GN5 Valuation of Personal PropertyIt is not proposed to carry this forward into the new edition. The definition of personal property in the existing standards is very broad and covers many asset classes that are now the subject of more specific standards.
GN6 Business ValuationUpdated standards for business valuation are in IVS 301.01
GN7 Consideration of Hazardous and Toxic MaterialsThis is not a valuation standard and the topic is one of many topics that influence value. No others are highlighted in the current IVS. Not carried forward
GN8 Cost Approach and GN9 Discounted Cash FlowThese are discussions on valuation methods and do not meet the criteria for inclusion in the standards. IVSC have working groups addressing these topics with a few to issuing updated Technical Information Papers
GN10 Valuation of Agricultural PropertyNot being carried forward as it contains no valuation procedures that differ from other property types. A new project on biological assets is proposed which may result in a new standard.
GN11 Reviewing ValuationsThe scope and limitations on any valuation assignment are now covered generically in IVS 104. Not carried forward
GN12 Valuation of Trade Related PropertyUpdated and carried forward as IVS 303.04
GN13 Mass Appraisal for Property TaxationNot being carried forward as it contains no valuation procedures that differ from the General Standards
GN14 Valuations of Properties in Extractive IndustriesNot carried forward. A comprehensive project on valuations in the Extractive Industries is about to commence and will probably lead to a new standard.
GN15 Valuation of Historic PropertyCarried forward as IVS 303.02
Click for: Comment dealdine is 3 September 2010.

20 July 2010: IVSC issues two documents for consultation

The International Valuation Professional Board (IVPB) of the International Valuation Standards Council (IVSC) has released two documents for consultation:

Comments will be accepted until 30 September 2010.

30 September 2010: IVSC issues discussion paper on valuation uncertainty

The International Valuation Standards Council (IVSC) has released Discussion Paper Valuation Uncertainty (link to the IVSC website, PDF 637k). This paper summarises the Board's preliminary views on the nature and causes of valuation uncertainty and on how this should be communicated to valuation users. The Board will consider responses to this paper in deciding whether amendments are required to the proposed new International Valuation Standards1 and whether a project should be undertaken to consider the development of technical guidance on possible methods for estimating a quantitative measure of uncertainty. Comments will be accepted until 24 December 2010.

10 January 2011: IVSC extends comment period on valuation uncertainty discussion paper

In an 'e-news' bulletin published late in December 2010, the International Valuation Standards Council (IVSC) announced an extension of the deadline for the receipt of comments on its Discussion Paper Valuation Uncertainty. The Discussion Paper summarises the IVSC's preliminary views on the nature and causes of valuation uncertainty and on how this should be communicated to valuation users.

Comments on the Discussion Paper now close on 14 January 2011. Click for IVSC e-news (link to IVSC website).

19 January 2011: IVSC issues exposure draft on real property and business valuations

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. Technical Information Papers (TIPs) are designed to provide technical guidance for valuation professionals on generally accepted best practice, but do not provide valuation training or instruction.

The objective of the exposure draft is to describe the discounted cash flow (DCF) method and its application for the valuation of businesses and real property interests. It describes best practice in performing and reporting valuations using the DCF method. It also considers the different inputs that are appropriate for valuations where market value is the objective and those where investment value is required.

The exposure draft concludes:

  • the DCF method can provide an appropriate measure for either market value or investment value if properly applied
  • the DCF method may be more applicable than other methods if the asset or business is experiencing significant growth, has yet to reach a mature level of operations, or where the asset will have a defined life such as the case with assets and businesses in the energy and natural resource sector
  • if a minority interest in a business is being valued (as can arise under IFRS 3 Business Combinations (2008)), the possible applicability of a discount to the pro-rata value per share to reflect the lack of control and/or liquidity should be considered, if not already taken into account in the cash flows. In certain circumstances a Dividend Discount Model (DDM), which is a variant of the DCF method, may be a more applicable method to value a minority interest in an asset or business.

Comments on the exposure draft close on 30 April 2011. Click for access to the exposure draft (link to IVSC website).

16 February 2011: IVSC issues exposure draft on depreciated replacement cost

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. Technical Information Papers (TIPs) are designed to provide technical guidance for valuation professionals on generally accepted best practice, but do not provide valuation training or instruction.

The objective of the exposure draft is to provide guidance on the application of the 'Depreciated Replacement Cost' (DRC) method of valuation, the most common valuation method under the cost approach. The cost approach estimates value using the economic principle that a buyer will pay no more for an asset than the cost to obtain an asset of equal utility, whether by purchase or by construction. It can be applied to a wide range of asset types and is frequently used when there is either very limited or no evidence of sales transactions (such as the valuation of specialised assets arising in business combinations).

The exposure draft:

  • is proposed to replace the current IVSC Guidance Note GN8 "The Cost Approach for Financial Reporting - (DRC)", but extend the guidance on DRC to a wider variety of circumstances
  • identifies depreciated replacement cost as the most common method of valuation under the cost approach, but asks whether DRC is the only method of applying the cost approach
  • proposes to replace 'external obsolescence' with 'economic obsolescence' as one of the three main types of deduction for obsolescence when applying the DRC approach (the others being physical deterioration and functional obsolescence).

Comments on the exposure draft close on 31 May 2011. Click for IVSC press release (link to IVSC website).

12 May 2011: IVSC working towards guidance on fair value of financial instruments

The International Valuation Standards Council (IVSC) has issued the latest edition of its 'E-Newsletter', which includes an update on the IVSC's work on guidance for the determination of the fair value of financial instruments.

In 2009, the IVSC formed a Financial Instruments Expert Advisory Group (FIEAG) to assist in identifying valuation problems that the IVSC could include on its work plan. The FIEAG contributed towards the production of a high-level standard specifically on financial instruments (IVS 250), which will be published in June 2011.

In addition, the IVSC has included two financial instruments projects on its work plan, which are likely to result in 'Technical Information Papers' (TIPs):

  • Financial instruments valuation methods – a high level overview of the principal valuation techniques used for valuing the main categories of over the counter instruments
  • Credit/debit valuation adjustments – an area in which there appears to be considerable divergence in practice.

The FIEAG also identified other potential projects on liquidity premiums, yield curve dislocation and model uncertainty. These projects are not currently included on the IVSC's work programme.

Click for IVSC E-Newsletter (link to IVSC website).

6 June 2011: IVSC releases updated proposals on ethical principles for professional valuers

The International Valuation Standards Committee (IVSC) has released revised proposals for a Code of Ethical Principles aimed at providing better regulation of the global valuation profession.

The exposure draft is an update to an initial set of proposals issued during 2010. Key changes include:

  • expanding the guidance on the application of the five 'Fundamental Ethical Principles' (integrity, objectivity, professional competence and due care, confidentiality and professional behaviour)
  • replacing the original material focusing on the application of the Fundamental Principles with guidance that has a broader context and generally avoids detailed rules requiring or forbidding specific actions
  • removing some rules that dealt with the execution of a valuation assignment rather than ethical issues.

Comments on the exposure draft are requested by 31 August 2011. Click for access to the exposure draft (link to IVSC website).

19 July 2011: IVSC issues updated valuation standards

The International Valuation Standards Council (IVSC) has published new International Valuation Standards (IVS). The new IVS update the previous version published in 2007, and cover valuation of a wide range of assets for financial reporting and other purposes.

The IVSC published an Exposure Draft of the proposed changes in June 2010. The new IVS:

  • focus on principles rather than prescriptive requirements – 'Technical Information Papers' (TIPs) will provide detailed guidance in the future (draft TIPs have been released on real property and business valuations and depreciated replacement cost)
  • remove the code of ethics, which are currently subject to a separate consultation
  • introduce new requirements, including for financial instruments (see our earlier story) and investment property under construction.
  • streamline a number of requirements – merging or eliminating guidance notes on particular topics (particularly where existing IVSC projects are underway or planned), eliminating repetition, and removing the glossary in favour of definitions in individual standards where required

The new IVS will be effective from January 2012 and can be ordered via the IVSC's website at www.ivsc.org. The individual standards are expected to be made electronically available on the IVSC website in due course.

Click for IVSC press release (link to the IVSC website).

14 October 2011: IVSC and IPEV seek consistency in private equity valuation standards

The International Valuations Standards Council (IVSC) and the International Private Equity Valuations (IPEV) board have signed a memorandum of understanding (MoU), agreeing to co-operate on valuation standards.

The IVSC recently published new International Valuation Standards (IVS) covering the valuation of a wide range of assets for financial reporting and other purposes. The IPEV issues the International Private Equity and Venture Capital Valuation Guidelines, which were last updated in 2009 and are widely used by private equity managers when estimating the fair value of investments for financial statements and for reports to investors.

Under the MoU, the IVSC and IPEV have agreed to co-operate with a view to ensuring that the IPEV Valuation Guidelines are consistent with the International Valuation Standards and that the IVSC considers the needs of private equity and venture capital investors in its future work plan.

Click for IVSC announcement (link to IVSC website). More information about the IPEV Valuation Guidelines can be found at www.privateequityvaluation.com.

26 October 2011: Lithuania adopts International Valuation Standards (IVS)

A revision to the Lithuanian Fundamental Law on Business and Property Valuation was adopted by the Parliament of the Republic of Lithuania on 22 June 2011. The revised law makes the use of the International Valuation Standards (IVSC) obligatory for valuers from 1 May 2012. The Public Institution Auditing, Accounting and Property Valuation Institute of the Republic of Lithuania – a government body responsible for licensing and supervising valuers and valuation companies – will translate and make the IVS available in Lithuania.

Click for IVSC e-news publication (link to IVSC website) announcing the development.

14 November 2011: New IVSC appointments

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.

The new appointments include:

  • IVSC Board of Trustees - Frank Vettese (incoming Managing Partner & Chief Executive, Deloitte Canada), Akihiro Watanabe (GCA)
  • International Valuation Standards Board - Dr. Cindy Ma (Houlihan Lokey)
  • International Valuation Professional Board - Chris Mercer (Mercer Capital Management), Professor Nick French (Oxford Brookes University), Greg Forsythe (Deloitte Financial Advisory Services, moving from Vice-Chair to Chair), Roy Farthing (Ernst & Young, new Vice-Chair).

Click for press release (link to IVSC website).

 

International Valuation Standards Council Contact Details

International Valuation Standards Council
41 Moorgate
London EC2R 6PP, United Kingdom
Website: www.ivsc.org
Email: ivsc @ ivsc.org
Phone: +44 (0) 1442 879 306

Executive Director Marianne Tissier
Email: mtissier @ ivsc.org


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