The International Valuation Standards Board
(IVSB) has issued draft standards that cover the valuation of most
types of assets following
calls from global and national regulators for the standards of
international valuation practice to be raised.

The proposed International Valuation Standards (IVS)
include the first standard for financial instruments and bring
valuation standards more in line with IFRS.

The board said that through identifying
concepts and principles applicable to all types of valuation, it
hopes the new IVS will improve consistency and transparency.

“The financial crisis and the debate on fair
value accounting have led to discussion on valuation’s essential
role in shaping the new financial landscape,” International
Valuation Standards Council board of trustees chairman Michel Prada

“In the current economic climate, where market
volatility and uncertainty around valuations remains, it is
important that uniform standards are adopted which are implemented
according to best practice and sound professional rules of

The deadline for comment is 3 September.

The final IVS are due to be published in
January 2011.