First meetings of IVSC’s new Standards Boards
Earlier in March, the new IVSC Standards Boards met for the first time.
We now have a new board structure in place, which brings a greater depth of focus with boards for both Tangible Assets and Business Valuation, together with an overarching Standards Review Board for parts of the standards which apply across all areas and to ensure other outputs are fully aligned. These boards bring greater expertise to the respective areas as well as increased geographical representation. This initial meeting was closed so that board members could get to know each other but future boards will have sessions which are open to the public. As well as an induction, the boards focussed on core issue areas which future valuation standards will need to address and considered the previous gap analysis, as well as engagement with key stakeholders.
The boards are producing a consultation paper which will propose areas where IVS can evolve. We will be looking for your comments and input into this as your views are very much needed to help IVSC fully understand the issues faced across the world and what the key priorities are.
The boards are finalising when the next meeting will be and we will provide details shortly.
The AFWG and Geographic Outreach – update from John Martin and Paula Seidel
The IVSC Advisory Forum Working Group (AFWG) has been hard at work since the AGM last autumn focussing on one of its primary goals of improved communications and engagement with the Advisory Forum members. One way of fostering this engagement is through a special geographic outreach project. The AFWG is made up of fourteen individuals who represent various VPOs from around the globe (you can view a list of AFWG members here). In the near future, each member of the AFWG will be assigned as a liaison responsible for a smaller group of VPOs (either based by region or discipline) in order to engage on IVSC-related matters. The role of the AFWG liaison is to:
- Provide information and guidance to the regional VPO group regarding the work of IVSC
- Answer questions that may arise regarding adoption and implementation of IVS 2017
- Provide updates on timely matters such as drafts for commentary, survey responses or upcoming meetings
- Foster networking among the regional VPOs who may serve as resources to each other
In the future, we also hope to be able to host periodic regional conference calls of the VPO groups (dependent on timing and logistics). The AFWG is looking forward to working with you all on promoting greater engagement with the IVSC and with each other. We will be in touch soon with additional details!
Joint AI-AIC Conference
The Appraisal Institute of the US and the Appraisal Institute of Canada are going to be holding a joint international valuation conference on June 8-11 in Ottawa, Ontario, Canada.
If you are interested in attending please register by clicking on this link.
Would you like to host IVSC’s 2018 AGM?
Every year we rotate our AGM to a different world region. Last year was Asia Pacific with sponsorship from the Indonesia Ministry of Finance and MAPPI and this year it will be hosted and sponsored in the Americas in Mexico City by INDAABIN.
We have had verbal expressions of interest for hosting in the EMEA region (Europe, Middle East and Africa) in 2018 and therefore would like to invite expressions of interest to be sent to email@example.com who will provide you with a short form to be filled out.
This will allow the Trustees to evaluate different proposals for where the 2018 AGM should be held. We hope to do this by July. We believe that planning further in advance will also allow local organisations to put conferences alongside our AGM.
IVSC signs new agreement with Singapore’s Nanyang Business School to deepen knowledge and standards in business valuation
We are pleased to announce that Nanyang Business School (NBS) has entered into an agreement with us to adopt uniform international standards in relation to Business Valuation in its Chartered Valuer and Appraiser Programme.
NBS, one of the world’s top-tier business schools, provides comprehensive business and management education and is well-established in the Asia-Pacific region.
With the aim to broaden the talent pool, deepen the expertise of business valuers, uphold the public trust in the role they perform and advance the business valuation profession’s reputation in Singapore and Asia, both parties will contribute in the international space and demonstrate Singapore’s commitment to promote greater consistency in the conduct of business valuation.
Commenting on this programme, Assoc Prof. Low Buen Sin, Associate Dean (China Programmes and Executive Programmes), Nanyang Business School, said: “This programme includes the consolidation of industry inputs and is based on IVSC’s competency framework. We hope this will develop Singapore into a leading marketplace for regional business valuation services.”
Our thanks go to all who applied to be a Trustee - there were a number of exceptional candidates with strong VPO knowledge, all of whom would have made a significant contribution to the governance of IVSC. We are pleased to announce that Jay Fishman will become our new Trustee. Jay has a long history of business valuation experience and different committees within the American Society of Appraisals. This will complement the VPO real estate experience already present in the Trustees. We look forward to welcoming Jay to IVSC.
Spotlight on Valuation Leaders
This month IVSC CEO Nick Talbot speaks to Ben Elder, the new Chair of the IVSC Tangible Assets Board about his role at RICS and his views on changes to the valuation profession on the horizon.