IVSC proposal on valuing investment property
30 Aug 2009
The International Valuation Standards Council (IVSC) has invited comment on an exposure draft (ED) of a Proposed Guidance Note The Valuation of Investment Property under Construction.
Comments are requested by 31 October 2009. The guidance comes in response to a change in the scope of IAS 40 Investment Property that was made by the IASB in May 2008 as part of its Annual Improvements Project. The scope of IAS 40 was broadened, effective January 2009, to include property under construction or development for future use as an investment property. Such property previously fell within the scope of IAS 16. As a result, entities reporting under IFRSs now have to account for investment property under construction in the same way as other investment property. The IVSC ED is available on IVSC's website: www.ivsc.org. Click for IVSC Press Release (PDF 15k).
