IVSC Agenda Consultation launched

Earlier in May, we launched the IVSC Agenda Consultation – a new consultation on future revisions to the International Valuation Standards.

We’re after your input on the topics that you think we should address as part of our current agenda and additional topics that you think should be priorities or added to our agenda.

The major valuation topics that we’re proposing to prioritise include Non-Financial Liabilities, Biological Assets and Extractive Industries.

The Consultation runs for 90 days, ending on 15 August 2017.

Please click here to read more about the Consultation and how you can provide your thoughts on it.

The IVSC Standards Review Board and the Business Valuation and Tangible Assets Boards also had their monthly virtual meeting, where the main focus was finalising the IVSC Agenda Consultation Document.

The IVSC Boards have agreed to have a physical meeting in Frankfurt between Monday 21 August and Thursday 24 August. The meeting will include a public session in the afternoons of the 22nd and 23rd for attendees to provide further consultation and other feedback prior to the AGM in October. Further meeting details will be provided in due course

IVSC AGM in Mexico 1 - 4 October 2017

We are very excited about our forthcoming AGM in Mexico from 1 to 4 October 2017.

This year, the AGM is kindly being sponsored by our member INDAABIN and the Mexican Government.

At the AGM, you will have the opportunity to observe the Standards Boards, take part in the Advisory Forum and AGM, hear from Mexican Government Ministers, and experience the best of Mexican hospitality.

Please follow this link for more details and to sign up.

Get to know your Advisory Forum Working Group

An update from Jack Beckwith, American Society of Appraisers. 

Your Advisory Forum Working Group's objective is to provide advice to the IVSC Board of Trustees, Standards Board, and Membership and Standards Recognition Board from the perspective of their Valuation Professional Organisations regarding the ongoing activities of the IVSC.

Our diverse team comes from VPOs around the globe and represent multi-disciplinary designation-granting organisations covering practitioners of business valuations, real property, plant and machinery, and standard-setters:

  • Jack Beckwith, American Society of Appraisers
  • Leslie Sellers, Appraisal Institute
  • Paul Olscamp, Appraisal Institute of Canada
  • Leandro Escobar, Asociación Profesional de Sociedades de Valoración
  • John Martin, AFWG Chair, Australian Property Institute
  • Pierre Maille, Canadian Institute of Chartered Business Valuators
  • Minghai Chen, China Appraisal Society
  • Gilles de Courcel, Fédération Française des Experts en Evaluation
  • KK Chiu, Hong Kong Institute of Surveyors
  • Mark Walley, Royal Institution of Chartered Surveyors
  • Igor Artimenkov, Russian Society of Appraisers
  • Karen Lusnic, Slovenian Institute of Auditors
  • Molefi Kubuzie, South African Property Valuers Association
  • David Bunton, The Appraisal Foundation

Our task is to gather throughout the year to:

  • Focus on meeting the needs of end users of valuations
  • Discuss common issues and a channel to share best practices
  • Use VPO specialists to interact in a coordinated way with relevant Standards Board sections
  • Engage with the Membership and Standards Recognition Board
  • Strengthen the global valuation profession
  • Play a key role in development and adoption of International Valuation Standards

We also participate in forums to engage with other key stakeholders that include sponsors, regulatory bodies, and end users.

With the understanding that the world of business is becoming increasingly global in nature with continuous changing flows of investment and cash, we are working in partnership with our VPOs and co-operating with other key stakeholders to serve our profession.

Our commitment is to the public interest by expanding the use of IVS as the primary core set of standards used for property, business, and financial instrument valuations by working in partnership with national valuation standard-setters who develop the Uniform Standards of Professional Appraisal Practice, the Canadian Uniform Standards of Professional Appraisal Practice, the European Valuation Standards, and the Chinese Valuation Standards.

Overall, the goal is to unite and bring credibility to the global valuation profession. Through quality IVS support, the group helps to bring transparency, comparability, and confidence to valuations thus benefitting the public interest.

In our June meeting, we will discuss a proposal for the use of IVS by mid-2020 by all IVSC members. This includes the categories of IVS 101 Scope of Work, IVS 104 Basis of Value, and IVS 105 Valuation Approaches.

We would be pleased to know how this may impact your appraisal practice moving forward.

Questions on the work of the AFWG can be directed to contact@ivsc.org.

Jack Beckwith has performed and supervised valuations throughout the United States, Canada, Mexico, and Europe.  He has published articles for various valuation topics in Equipment Finance Advisor, The M&TS Journal, and the ASA Professional. He can be reached at beckwith@eagi.com should you have any inquiries to this subject.

New Members

Further to review of applications to the Membership Committee, the following new members are proposed:

VPO Membership:
CFA Institute

Academic Membership:
University of Malawi – the Polytechnic

Please feedback to IVSC if you have any comment regarding these.

Upcoming conferences for your diary

Joint AI-AIC Conference

The American Appraisal Institute and the Appraisal Institute of Canada are going to be holding a joint international valuation conference on 8 – 11 June in Ottawa, Ontario, Canada.

If you are interested in attending, please click on this link to register.

CICBV Conference

The Chartered Institute of Certified Business Valuators will be holding its national conference in Quebec City from the 15 - 16 June.

If you are interested in attending, please click on this link to register.

V-FI Conference

This year’s V-FI London conference takes place on 20 - 21 June and is being held at the Andaz Hotel, Liverpool Street, London, UK.

To attend and receive a 20% discount, please go to the event website and enter in VIP code FKM63437EMSPK.

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 in a prestigious venue in Sydney, Australia from 4 – 6 September 2017.

Click here to find out more and to sign up to attend the conference.

IVAS-IVSC Conference

The IVAS-IVSC Business Valuation Conference 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.

Click here to find out more and register for the event.