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IVSC publishes guide on valuation professional organisations

  • IVSC (International Valuation Standards Council) (lt green) Image

02 May 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.

The guide, entitled Establishing and Developing a Valuation Professional Organisation, is based on Establishing and Developing a Professional Accountancy Body of the Professional Accountancy Organization Development Committee, published by the International Federation of Accountants (IFAC) in December 2010.

The guide covers the following broad topics:

  • Establishing a valuation professional organisation
  • Roles and responsibilities of a valuation professional organisation
  • Education and examinations
  • Mentoring arrangements and setting priorities.

The development of the guide has been partially driven in response to a 2011 report of The Private Sector Task Force of Regulated Professions and Industries, Regulatory Convergence in Financial Professions and Industries, which called on the G20 to encourage and support the development, adoption, and implementation of one set of globally accepted high-quality international standards for each of financial reporting, auditing, valuations, and actuarial services (the task force report was later updated in April 2012 for the G20 meeting that month). It compliments earlier IVSC documents on a competency framework for valuers and proposals for a code of ethical principles for valuers.

Click for access to the full text of the guide (link to IVSC website).

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