The IVSC has this month launched a consultation on a proposed business valuation quality mark. We are seeking feedback from anyone interested in this proposal, especially business valuation stakeholders, by 1 August 2018.
Background
There are significant inconsistencies in the quality of business valuations around the world. Furthermore, some countries have established Valuation Professional Organisations (VPO or VPOs), which have a sophisticated approach to professionalism and standards, and some other countries have either no VPOs or VPOs with very little or no standards and required professionalism in place. The variation in the quality of business valuations applies to both developed and developing countries.
IVSC believes that as a global valuation standard setter acting in the public interest it has a role to play in encouraging the development of high quality VPOs to provide enhanced BV professionalism. Just getting acceptance of IVS in a country does not guarantee high quality business valuations, professionalism is key. Identifying and recognising high quality VPOs which specialise in BV is a key step in establishing a globally recognised BV profession.
With the public interest in mind, IVSC is proposing to offer international recognition of qualified VPOs that meet a high quality level of BV technical and professional standards, through the awarding of a quality mark.
The consultation paper sets out further background and examples of an approach that could be taken to address the concerns outlined above. All stakeholders are invited and encouraged to share their feedback on the proposal, as well as further ideas for ways to elevate BV professionalism.
Please note: consultation responses will be published in a report made available on the IVSC website, after 01 August 2018.
Click here to access the consultation paper.
Click here to see the IVSC’s Professional Member Obligations (PMOs)
Share your feedback with IVSC by email: [email protected]