The International Valuation Standards Council and The Appraisal Foundation of the United States Release Standards Bridge Document

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Jun 29, 2016

On June 29, 2016, The International Valuation Standards Council (IVSC), the global standard setter for valuation practice and the valuation profession, and The Appraisal Foundation (the Foundation), the United States’ foremost authority on the valuation profession, announced the release of the anticipated harmonization of standards, A Bridge from USPAP to IVS - A guide to producing IVS‐compliant appraisals.

The two organizations have been working together over the past year to harmonize any differences between the IVSC’s International Valuation Standards (IVS) and the Foundation’s Uniform Standards of Professional Appraisal Practice (USPAP).

The Foundation and the IVSC believe this effort will serve the entire global economy. Since most U.S. appraisers are required to comply with USPAP, ultimately they need to understand what additional steps must be taken to meet IVS.  This guide has been produced to assist appraisers familiar with USPAP to produce a valuation that is also compliant with the IVS.  While the document describes additional steps necessary to ensure that compliance, a full review of both sets standards is always encouraged.  Both organizations note that this joint effort unveiled more commonalities than differences in the two sets of standards.

For more in­for­ma­tion, see the press re­lease and A Bridge from USPAP to IVS - A guide to producing IVScompliant appraisals

 

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