Personal note from Nick Talbot

Dear all,

My part time secondment at the IVSC as interim CEO was extended from January but finishes today. I am very pleased to say Christian Mouillon, one of our Trustees and Audit Committee Chair, and a senior partner at Ernst & Young will be taking over on a part time basis whilst interviews for a new permanent CEO continue with applicants from around the world. Another Trustee will replace Christian as Audit Committee Chair in this interim period.

Christian has excellent knowledge of the IVSC and has been instrumental in dealing with high profile stakeholders such as the IMF, IOSCO, IFRIAR and the Basel Committee. Christian can be contacted at cmouillon@ivsc.org.

It has been a genuine pleasure to be able to spend some of my time working with you all on the new strategy and help IVSC move forward. There is still much to be done but I am confident it is on the right track and when a full time permanent staff is in place with the new boards I believe IVSC will achieve a lot of success for the benefit of the whole valuation profession globally over the coming years.

Please do feel free to stay in touch with me via LinkedIn or ntalbot@rics.org.

In the immediate future I will be away as I am embarking on a charity Everest summit attempt which you can follow via Facebook and Twitter.

Best,
Nick


UPDATE FROM THE STANDARDS BOARD

The Standards Board has been making good progress on drafting improvements proposed to IVS 2013 thanks in particular to hard work from Alex Aronsohn and Adam Smith. Consultations soliciting your input and views will commence in the near future.

The Standards Board held a Public Meeting on Wednesday 9 March at the International Finance Corporation in Washington DC. During the meeting the Board finalised the Exposure Drafts for IVS 104 Bases of Value, IVS 105 Valuation Approaches and IVS 210 Intangible Assets, subject to a final review.

The Exposure Drafts are due to be published on the IVSC website during the first week of April and will be subject to a 90-day consultation period.

The next IVSC Standards Board public meeting is being held on 23 May in New York City, USA (tentatively at the offices of Ernst & Young). During this meeting the Board will be reviewing any comments received by that date on the three published exposure drafts and finalising an exposure draft of the remaining chapters of IVS 2017 for publication in June 2016.

The Board has also agreed to hold a further public meeting on Wednesday 7 September in London though the location has yet to be confirmed.

In respect of Financial Instruments, the Board is continuing to meet both banks and regulators to gain further clarity on future Financial Instrument Standards to be incorporated within the International Valuation Standards. The taskforce on this is being put together. Christian Mouillon has already had a key role on this with Peter Melvin.

Further information on the current IVS 2017 work plan are contained on the IVSC website. The Board would welcome suggestions for any further additions to the existing gap analysis for IVS 2017.

Please send any comments regarding proposed revisions or amendments in the first instance directly to the technical authors, Alexander Aronsohn (aaronsohn@ivsc.org) and Adam Smith (amsmith@ivsc.org).


UPDATE FROM THE PROFESSIONAL BOARD

The final draft International Professional Standards (IPSs) will be available for comment from the end of this week.

Thanks to Greg Forsythe and the Professional Board for completing their work on these.

Please do provide comments and input. These papers will be used by the Membership and Standards Recognition Board along with leading VPO input to help new and developing VPOs in particular.

 

UPDATE FROM THE NOMINATIONS COMMITTEE

Lee Hackett and two Trustees are leading a Nominations Committee to interview the candidates for the different Board positions.

With the different timezones and volume of candidates, this is taking longer than anticipated but please bear with us as we seek to give candidates a consistent and fair approach.

We hope to announce these in the coming month.


OCTOBER AGM & OTHER MEETINGS

As proposed at the Paris AGM, our 2016 AGM will be held in Indonesia. We rotate the AGM between the three world regions to give local VPOs and give stakeholders who can’t travel a long distance the opportunity to engage in person every so often. 2017's AGM will be in the Americas.

Further to security issues and discussions with the Ministry of Finance it will be in the main conference area in Bali instead of Jakarta. The Ministry of Finance is very kindly sponsoring IVSC so that the venue room and accommodation costs for different Boards and staff will be minimal. 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 from mid-April so you can make cost effective flight bookings well in advance.


STANDARDS QUALITY DIRECTOR

We have decided to re-advertise this position due to the low level of applicants. If you know someone who would make a good Standards Quality Director, please direct them to our website from next week. They can be based anywhere in the world and do not necessarily have to be full time if highly knowledgeable and efficient.