Significant strides made towards global adoption of IVSs

The International Valuation Standards Council is pleased to announce a second successful meeting (following an initial meeting in June held in Washington) of major valuation professional organisations moving toward compliance with or adoption of International Valuation Standards (IVSs).

The meeting, held in Chicago this week, was attended by representatives of seven key organisations in addition to the IVSC. Contributions were also accepted from a number of other organisations in written form. 

The delegates discussed the issues surrounding the ability to prescribe compliance with IVSs in an open and frank exchange which allowed significant progress to be made.

By the conclusion of the meeting the delegates had agreed key steps that need to be achieved in order for each of the organisations present to report back to their respective Boards. A summary of the meeting will be agreed between participants as soon as possible thus allowing each representative to report back in a uniform way.

Sir David Tweedie, Chairman of the IVSC said: “This meeting was highly productive. The ultimate goal of one high quality set of global valuation standards recognised across the world took, in my opinion, another step forward in Chicago this week.”