REVIEW OF THE CURRENT STANDARDS AND STANDARDS PROCESSES

Alex Aronsohn and Adam Smith, working with the Standards Board and AFWG, have put together a GAP analysis of IVS areas which can be enhanced. They have also created a process which articulates the IVSC approach to consulting on these and for proposing changes to them.

Please take the opportunity to review the document - you can see it by clicking here. Alex and Adam will be happy to take on board further ideas and comments at the meetings in Paris.

INTERNATIONAL VALUATION STANDARDS IN ARABIC

TAQEEM of Saudi Arabia have put a lot of work and effort into translating the International Valuation Standard alongside the original English version page by page. 

We are pleased to announce that TAQEEM is kindly providing this translation as a form of sponsorship to the IVSC for use across the Middle East and we are working with them to review it prior to final publication. 

With a population of 300 million in the Middle East, this will be a significant milestone as different countries across the region look increasingly to have an internationally recognised approach to valuation and develop their profession to provide confidence to end users.

PROGRESS ON USPAP-IVS BRIDGING DOCUMENT

Tom Boyle is leading the work on drafting a bridging document that will help valuers perform appraisals which are both compliant with USPAP and International Valuation Standards, keeping the core principles intact. 

The initial draft will be provided soon, then will be reviewed by The Appraisal Foundation and IVSC, prior to being available to help appraisers wishing to comply with both standards. This is a major step and has been welcomed by the profession.  

IVSC IN THE NEWS 

IVSC Professional Board Member Professor Jiang Wei was in the press last week with an opinion article on China's valuation profession. The piece covered SOE reforms that are boosting the country's valuation sector. You can read the article here.