The International Valuation Standards Council (IVSC) Trustees have commissioned an assessment of current processes, structures and resources to ensure the organisation is positioned to fulfil its mission of generating high quality valuation standards that serve the public interest.
The review has been initiated as a matter of good governance to ensure the IVSC, six years on from its restructure in 2008, is equipped for the next phase of its development.
The Board of Trustees have asked a review group to develop a report that will address a number of areas related to governance, funding and operations. The report will include a synopsis of findings and recommended actions. It is envisaged that the review will include analysis of existing technical guidance, as well as documents regarding governance and process and interviews with current and former Trustees, board members and staff.
The review process is being headed by former IVSC trustee Patrick Gounelle.
April Mackenzie, IVSC CEO, said: “This assessment of the current state of the organisation is critical to laying a platform for future success. Since our reorganisation in 2008, the scope of our work has increased and it is important that we are equipped to be able to meet future demand and satisfy expectations."
The findings from this review should provide clear, independent recommendations to the Trustees on how we can enhance the credibility of the organisation among its various constituents, thereby enabling it to attract the additional resource it needs to succeed in its mission. The review group consists of the following people, and the report to the Trustees is expected by early 2015:
- Anton Colella, CEO, Institute of Chartered Accountants of Scotland
- John Glynn, PWC, Global Valuation Services Leader
- Patrick Gounelle, Former IVSC Trustee (chair)
- Jim Hirt, CEO, American Society of Appraisers (ASA)
- Keith Lancastle, CEO, Appraisal Institute of Canada (AIC)
- Tom Seidenstein, former Chief Operating Officer, IFRS Foundation
- Sean Tompkins, CEO, RICS