IVSC issues competency framework for valuers

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

02 Oct 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.

The IVSC notes that the valuation profession is not currently uniformly defined or developed across different countries and sectors. In particular it is recognised that many highly experienced and professional valuers may not currently be a member of a Valuation Professional Organisation in membership of IVSC.

The new Framework seeks to set aspirational benchmarks for the development of the valuation profession and is intended to be the first step in defining more detailed sets of required competencies for professional valuers operating in different sectors and specialist areas.

In essence, the new Framework seeks to emulate the approach taken by other professional bodies (such as the International Federation of Accountants) and includes:

  • The criteria for IVSC recognition of Valuation Professional Organisations, including such things as upholding the public interest and requiring minimum education, competency and ethical standards for their members
  • A definition of a "professional valuer" a member of a Valuation Professional Organisation in membership of IVSC
  • Requirements for professional competence though initial and continuing professional development.

The establishment of a formal professional valuer designation links with the IVSC's objectives of promoting the global recognition and adoption of the International Valuation Standards and  leading the development of the valuation profession worldwide.  The IVSC has also appointed Sir David Tweedie as Chairman of the IVSC's Board of Trustees to advance these objectives.

Click for access to the Framework (link to IVSC website).

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