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IVSC Standards Board

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ABOUT IVSC

THE INTERNATIONAL VALUATION STANDARDS

WORK PLAN

BOARDS
- Board of Trustees
- Professional Board
- Standards Board

MEMBERSHIP

SPONSORS & FUNDING

MEETINGS

NEWS

PUBLICATIONS

GLOSSARY

THE IVSC STANDARDS BOARD

The Standards Board is an independent standard-setting board that creates and maintains the International Valuation Standards (IVS). The IVS are designed to:

  • Promote consistency and aid understanding of valuation by identifying and developing globally accepted principles and definitions;
  • Identify and promulgate common principles for the undertaking and reporting of valuations;
  • Identify specific matters that require consideration and methods commonly used when valuing different types of assets or liabilities;
  • Identify the appropriate valuation processes and reporting disclosures for the major purposes for which valuations are required;
  • Reduce diversity of practice by enabling the convergence of different valuation standards used in specific sectors and countries.

The Standards Board may also develop technical guidance to support the IVS.

The nine members of the Standards Board are appointed and overseen by the Board of Trustees.

The Standards Board follows a due process in determining its future work programme and in developing projects in the programme to a conclusion.
— GET Due Process (pdf)


Current membership of the Standards Board:

Steven ShermanSteven J Sherman – Chairman
Steve is a Partner at KPMG LLP in Chicago within the Economic and Valuation Services practice. He is also the Chair of KPMG’s Global Valuations Committee overseeing a network of 1,200 professionals in more than 50 countries. Steve has nearly 30 years of valuation experience related to financial reporting, tax planning, mergers and acquisitions and expert testimony. He has lectured extensively to various organizations including the AICPA, the American Society of Appraisers and the Kellogg Graduate School of Management and has hosted many conferences and seminars. Steve has written various articles and has been interviewed by news media worldwide (e.g. in Abu Dhabi, Argentina, Australia, Brazil, China, and the UK). Clients include some of the largest multinationals worldwide.

Frank BollmanFrank Bollmann – Vice Chairman
Frank Bollmann is Managing Director of Vossius & Partner located in Munich, Germany. He has been providing valuation services for more than 14 years with a specific focus on valuing intangible assets and IP. Mr. Bollmann has worked in the US, the Netherlands and Germany throughout his professional career and represents the IVSC in the Consultative Advisory Group of the International Auditing and Assurance Standards Board (IAASB).

Thomas BoyleThomas Boyle
Thomas Boyle is Chief Appraiser, Senior Vice President, U.S. Bank Real Estate. Thomas was a national Board member of the Appraisal Institute (2000-2003) and he is a certified instructor for the Uniform Standards of Professional Appraisal Practice (USPAP).

Ana CastanedaAna Castañeda
Ana Castañeda is CEO InterMoney Valora Consulting S.A., Spain and has over 12 years of experience in financial instruments valuation and risk management advisory. Prior to joining InterMoney Valora Consulting, she was Head of Products in BNP Paribas Securities Services in Spain with three years of experience in custody and settlement services. Ana started her professional activity in academia where she held professorships at universities in Madrid, Barcelona and Florence. She was a member of the European Economic Forum. She holds a Master Degree in Economic and is Ph.D. from University Carlos III of Madrid.

James EalesJames (Jim) Eales
Jim Eales is global head of Ernst & Young Valuation and Business Modelling Group. He is Chairman of the Society of Share and Business Valuers that was formed in 1996 to provide a unique forum for specialist business and intellectual property valuers in the United Kingdom. Jim is also a Member of the Securities Institute and the Licensing Executives Society. He is on the expert valuers’ lists of both the ICAEW and Law Society.

D Jeffrey HarderD Jeffrey Harder
D. Jeffrey Harder is a Partner in the Deloitte & Touche LLP’s Canadian Financial Advisory Services group. Mr. Harder is a Fellow of the Canadian Chartered Accountants and Chartered Business Valuators. He is a Certified Management Consultant and a senior member of the American Society of Appraisers. Jeffrey is past President and Member of the Board of the Canadian Institute of Chartered Business Valuators, and has twenty-four years experience in Financial Advisory Services practice involved in valuation, mergers and acquisitions, investigations and financial consulting.

Simon LandySimon Landy
Simon Landy is Managing Director of Primo Co. Ltd, a property fund management company, and Executive Chairman, Colliers International, Thailand. Simon has over 20 years experience as a practitioner and user of valuation in developing markets in Asia. He was chair in 1998/99 of a working group to develop the Thai Valuation Profession and is current chair of the RICS/Asian Public Real Estate Association Thailand REIT Reform Task Force.

Cindy MaCindy Ma
Dr Cindy Ma is a Managing Director in Houlihan Lokey’s New York office where she serves as Co-Head of the Portfolio Valuation practice. She specializes in illiquid and complex securities valuation and is a member of the firm’s Technical Standards Committee. Dr. Ma served as a panelist in the U.S. Securities and Exchange Commission’s (SEC) roundtable concerning mark-to-market accounting held on October 29, 2008. She has also served as a consulting and testifying expert for the SEC on selected cases concerning mortgage-backed securities and structured products. She has conducted valuation training seminars for the SEC and the Hong Kong Securities and Futures Commission. She has led workshops on fair valuation on illiquid securities for the Hong Kong Venture Capital and Private Equity Association, Hong Kong Financial Analysts Association and Hong Kong Securities Institute. Dr. Ma served as an adjunct professor at Columbia University, teaching an M.B.A.-level course in futures and options. She graduated with honors from Columbia University with a Ph.D. in finance and from Indiana University with a B.S. in accounting. She holds the designation of Chartered Financial Analyst. She has published numerous articles on valuation, derivatives and risk management and co-authored a college textbook on derivatives. She is also a frequent speaker at industry conferences.

Siu Yu Nova ChanSiu Yu Nova Chan
Nova Chan is a Partner in the Advisory Division of PricewaterhouseCoopers in China. He is a member of the China Valuation Standards Technical Committee and a Council member of the China Appraisal Society. Since 1998, he has been actively involved in drafting China Valuation Standards and Guidance, including Business Valuation Guidelines (released in 2004) and Guidelines for Financial Reporting Purposes (released in 2007).


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