IVSC Agenda Consultation 

Our Agenda Consultation on future revisions to the International Valuation Standards ends on 15 August 2017. IVSC is after your input on the topics that it should address as part of its current agenda and additional topics that you think should be priorities or added to IVSC’s agenda. Major valuation topics IVSC is proposing to prioritise include Non-Financial Liabilities, Biological Assets and Extractive Industries. The Consultation runs for 90 days, ending on 15 August 2017. Our CEO Nick Talbot explains why it is important that we have your participation.

Board meetings

The IVSC Standards Review Board and the Business Valuation and Tangible Assets Boards have continued to meet virtually. The IVSC Boards agreed to have a face to face meeting in Frankfurt with open sessions on the afternoons of Tuesday 22 August and Wednesday 23 August. If you wish to attend one or both of these, or dial in, then please register by clicking here

Summer update from IVSC Advisory Forum Working Group Chair John Martin

The Advisory Forum Working Group (AFWG) met in London earlier this month to further advance its 2017 agenda.

The AFWG is developing an exposure draft that will provide assistance and guidance to IVSC members for the adoption of the International Valuation Standards (IVS) on or before 2020 by IVSC members.  In developing this paper, the AFWG recognises that existing national standards are still required to comply with legal and regulatory provisions.  

During the meeting, AFWG members made progress on its plan for increased communications, including specific articles from the AFWG in this newsletter and further development of an enhanced members-only section of IVSC’s website.

The AFWG members also finalised their assignments for an outreach project which in essence will assign an AFWG liaison to connect with each member organisation representative, via phone or email, to discuss upcoming matters relative to IVS, IVSC and/or its Boards.  Each liaison will be available to help answer any questions that may arise regarding IVSC and its work.  We hope to start making initial contacts with each organisation later this summer.

Finally, the AFWG began preparation of an agenda for the Advisory Forum meeting at IVSC’s AGM in Mexico City, 1-4 October 2017.  Things to look for on the Advisory Forum meeting agenda include: 

  • Presentations and updates from IVSC Officers and Boards
  • A presentation on the proposed IVS adoption paper
  • A summary of the survey of Valuation Professional Organisations (VPO) conducted earlier this year
  • An overview of enhanced communications efforts via the website and other opportunities for engagement with IVSC and AFWG
  • Development of a future business plan for the AFWG and Advisory Forum

The AFWG looks forward to seeing you all at the AGM in Mexico City!  Please be sure to register – click here for more information and for registration.   

A note from Nick Talbot

June was a busy month for our Chairman, Sir David Tweedie, and myself, with the Board of Trustees meeting, speeches at the AI and AIC conference as well as the CICBV conference. Alongside this there were also linked meetings with the CEOs of some of the leading VPOs, participation in the Advisory Forum Working Group, and engagement with Indian government officials and leaders.

Janet Smy, PA at IVSC, has now left and is retiring. We thank Janet for all her hard work and wish Janet all the best for her retirement. We are recruiting for a new administrator, CVs can be sent to applications@ivsc.org

Final call for applications for new Financial Instruments Board

IVSC is working to put in place a Financial Instruments Board which will sit alongside the Tangible Assets Board and the Business Valuation Board.

If you have strong experience in financial instruments then we would be delighted if you applied to be on our Financial Instruments Board.

Knowledge of the links to Tangible Assets and Business Valuation would also be advantageous as we will be looking to add positions to the Standards Review Board so that we have more members to ensure effective integration of standards across all asset classes.

Please click here to download the application document which has more information. The deadline for applications is 8 July 2017.

IVSC in the news

Mark Zyla, Chair of IVSC's Standards Review Board, was recently interviewed by iiBV about his role and the future of IVS. Click on the link below to read the interview. 

iiBV Interview with Mark Zyla Chair, IVSC Standards Review Board

Upcoming conferences

ICVPME Conference

ASA, RICS, API, JaSIA are jointly holding the 10th International Conference on the Valuation of Plant, Machinery & Equipment (ICVPME). This is being held at a prestigious venue in Sydney, Australia from 4 - 6 September 2017. You can find out more and sign up to attend this conference by clicking on this link.

IVAS-IVSC Conference

The IVAS-IVSC Business Valuation Conference in early November is anticipated to be the leading Business Valuation conference in Asia Pacific bringing together a prominent line-up of speakers from across the region including Singapore’s Senior Minister of State for Law and Finance, Ms Indranee Rajah, as guest of honour, and Sir David Tweedie, Chairman of the IVSC. You can find out more and register for this event by clicking here.