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PRESS
RELEASE 18 MARCH 2010
INTERNATIONAL VALUATION STANDARDS COUNCIL ADDS DELOITTE AND GRANT THORNTON TO LIST OF HIGH PROFILE SPONSORS
The International Valuation Standards Council (IVSC) has today announced that Deloitte Touche Tohmatsu and Grant Thornton have joined their list of sponsors providing financial support to the organisation.
The sponsorships signify another important stage in the advancement of the IVSC, which develops procedures for performing international valuations through a set of globally recognised valuation standards.
Michel Prada, Chairman of the IVSC board of trustees comments:
“The recent financial crisis has led to greater recognition of the critical role played by valuation in today’s global financial system and has brought unprecedented focus on the role of valuation in financial reporting. The Board of Trustees of the IVSC and the organisation as a whole are therefore delighted at Deloitte and Grant Thornton’s support. Their sponsorship and expertise will be greatly appreciated.”
Kevin Moss, principal and Global Valuation Leader, Deloitte Financial Advisory Services LLP, a subsidiary of Deloitte LLP in the United States adds:
“In today’s uncertain financial world, there is a greater need for clarity and consistency in worldwide valuations. With this in mind, the development of global valuation standards has never been more relevant. Deloitte is proud to support the IVSC in this important endeavor.”
Ed Nusbaum, Chief Executive Officer of Grant Thornton International, adds:
“At Grant Thornton we recognise that the IVSC’s mission to raise standards for valuation across the globe requires a combined effort from all those who conduct or rely on valuations. We look forward to taking an active role to ensure valuation standards are set which have credibility and applicability in an increasingly global environment.”
Deloitte and Grant Thornton join other leading companies and organisations that are investing in global standards for valuation by providing sponsorship to the IVSC. These include:
American Appraisal Associates, Inc
The Appraisal Foundation
Appraisal Institute
Appraisal Institute of Canada
Canadian Institute of Chartered Business Valuators
China Appraisal Society
Duff & Phelps, LLC
Ernst & Young, LLP
Houlihan Lokey Howard and Zukin, Inc
KPMG LLP
Royal Institution of Chartered Surveyors
For more information on the IVSC, please see the website: www.ivsc.org
ENDS
For further information on the IVSC please contact: Marianne Tissier, IVSC
mtissier@ivsc.org
Tel: +44 (0)1442 879 306
NOTES TO EDITORS
About the IVSC:
The International Valuation Standards Council (IVSC) is charged with developing robust and transparent procedures for performing international valuations through a single set of globally recognized valuation standards, acceptable to the world’s capital markets organisations market participants and regulators, which will meet the challenges of a fast-changing global economy.
The governance structure of the IVSC, a non-profit organisation incorporated in the US, includes two independent technical Boards – the International Valuation Standards Board and the International Valuation Professional Board – and a global Board of Trustees responsible for the overall strategic direction and funding of the IVSC. The IVSC works co-operatively with national professional valuation institutes, users and preparers of valuations, governments, regulators and academic bodies, all of whom can become members of the IVSC and have an important role to play in advising the Boards on agenda decisions and priorities in the work of the IVSC.
For more information please visit: www.ivsc.org
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu and its member firms.
Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than140 countries, Deloitte brings world-class capabilities and deep local expertise to help clients succeed wherever they operate. Deloitte's approximately 169,000 professionals are committed to becoming the standard of excellence.
About Grant Thornton:
Grant Thornton is one of the world's leading organisations of independently owned and managed accounting and consulting firms. These firms provide assurance, tax and specialist business advice to privately held businesses and public interest entities. More than 2,600 partners provide clients with distinctive, high quality and personalized service in over 100 countries.
For more information please visit: www.gti.org
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