Personal note from Christian Mouillon
Although some of you will know me already, I want to take this opportunity to introduce myself as the new interim CEO of the IVSC.
I have been a member of the IVSC’s Board of Trustees since October. After 12 years in various senior positions at EY, I have gained valuable experience working with corporate management, boards and regulators such IOSCO, the Basel Committee, IFRIAR and the IMF.
I am very much looking forward to leading the IVSC over the next few months and promoting the importance of valuation, especially at a time of real uncertainty and volatility in global markets.
My thanks go to Nick Talbot, our previous interim CEO, for his hard work and dedication to the IVSC. Nick is currently climbing Mount Everest for the Cystic Fibrosis Trust – a very worthy cause. You can follow his progress on Twitter here.
Feel free to contact me via email, firstname.lastname@example.org
With warm regards,
Consultations - we're after your input
We currently have two consultations open – on International Valuation Standards and International Professional Standards. We’re looking for your input and comments.
The Standards Board has finalised four Exposure Drafts that will form part of IVS 2017 as part of its goal of deepening theInternational Valuation Standards to ensure they are fit for purpose and provide much needed clarity and market efficiency.
The Board invites you to comment and give feedback on Exposure Drafts of:
- IVS 104 Bases of Value
- IVS 105 Valuation Approaches
- IVS 210 Intangible Assets
- Introduction and Framework to IVS 2017
The Standards Board welcomes Comment Letters within a 90-day period, which ends 7 July 2016. All comments received as part of the consultation process will be published on the IVSC website and will be considered by the Standards Board.
The IVSC Professional Board has created draft International Professional Standards (IPSs) and is seeking your review. The IPSs are for Valuation Professional Organisations (VPOs) to refer to, to strive to ensure they have programmes in place to enable professional valuers to achieve and maintain competence over the course of their careers. They have been found to be particularly useful for new and developing VPOs.
The 90-day consultation period ends on 30 June 2016. Please click on the links below to access the individual documents that comprise the Exposure Draft:
- Framework for International Professional Standards
- IPS 101: Initial Professional Development – Entry Requirements to Professional Valuer Accreditation Programmes
- IPS 102: Initial Professional Development – Professional Skills and Ethics
- IPS 103: Initial Professional Development – Technical Knowledge
- IPS 104: Initial Professional Development – Practical Experience
- IPS 105: Initial Professional Development – Assessment of Professional Competence
- IPS 201: Continuing Professional Development
We look forward to reading your input and completing these important streams of work.
Welcome to our new Trustees
We are very pleased to welcome Howard Wetston and Tom Seidenstein to our Board of Trustees.
Howard brings a wealth of knowledge of financial regulation and policy-setting to the IVSC. He was formerly chair and CEO of the Ontario Securities Commission (OSC), Canada’s largest securities regulator. He led the OSC from 2010-2015, through a particularly turbulent period in the aftermath of the 2008 financial crisis.
Tom will bring considerable experience in setting financial standards and senior leadership of international organisations. Tom is currently Vice President for Financial Markets and Policy Research in the Economic and Strategic Research Group at Fannie Mae. His team leads the company’s annual strategic planning process, generates market insights and research, and assesses the impact of proposed policy and legislation.
The position of Standards Quality Director is open. If you think you would make a good candidate for this position, please apply, or if you know someone who would is well-suited for the role, please direct them to our website. The new Standards Quality Director can be based anywhere in the world and does not necessarily have to be full-time if highly knowledgeable and efficient.
Sir David Tweedie, Roel Campos, Nicholas Brooke and Christian are currently creating a shortlist of candidates for the position of CEO. Our aim is to reach a final decision by June.
Sir David Tweedie to speak at V-FI Conference
We are delighted to once again be the Supporting Organisation of Infoline's 5th V-FI Europe Summit. V-FI is Europe’s leading summit on valuation and risk for financial instruments.
Our chair, Sir David Tweedie, will be delivering a keynote speech, where he will discuss IVSC's financial instruments initiative, and recent developments in international accounting policy.
We are pleased to be able to offer you a 30% discount from the registration fees - simply quote VIP Code FKM63358IVSC1 when registering to claim. Follow this link to register and find out more.
An update on our financial instruments initiative
Following our successful roundtable with regulators and banks to look at tackling the challenges of financial instruments valuation, we are continuing our discussions with various stakeholders to fine tune the best structure to enable the task force to integrate with the Standards Board.
IVS-USPAP bridging document update
The bridging document which compares and contrasts IVS and USPAP and provides guidance on how to perform a USPAP valuation compliant with IVS is in its final draft. Our thanks go to Tom Boyle for his work in writing the bridge.
We will be releasing the document with a formal announcement together with The Appraisal Foundation in May.
An update on the new Board appointments
Our Nominations Committee is in the final stages of interviewing candidates for the various Board positions. We hope to announce these in May.
Our next Standards Board meeting is on 23 May, in New York, USA. To register as an observer and to find out more information, please click here. An agenda will be available shortly.
A reminder that our 2016 AGM will be held in Indonesia. Meetings and a MAPPI sponsored reception will begin from late afternoon on Monday 10 October with the AGM on Wednesday 12 October. For any who wish to stay on, this will be followed by an optional regional valuation conference on the Thursday 13 and Friday 14 October. We will put up more details and a registration page on our website shortly.