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News brief: International Valuation Standards Council launches new global standards

The standards have been created out of a consultation process from April to October 2016 where IVSC said it received 100 official comment letters from a range of stakeholders, including valuation profession organisation, individual professionals and academics.

IVS 2017 comprises five General Standards and six Asset Standards. The General Standards set requirements for the conduct of all valuation assignments including establishing the terms of a valuation engagement, bases of value, valuation approaches and methods, and reporting.

The Asset Standards include requirements related to specific types of assets, including background information on the characteristics of each asset type that influence value and additional asset-specific requirements regarding common valuation approaches and methods used.

The new standards are accessible through the IVSC website

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