We are living through one of the most challenging and uncertain times in recent history. As the global Covid-19 pandemic advances, governments, scientists, healthcare professionals, businesses and the public at large are having to respond in real time to new and often untested information and advice. The challenges ahead apply to every aspect of society.
Economies are also facing enormous upheaval. Stock markets are being tested with huge daily volatility and businesses of all sizes have been affected in myriad ways.
For valuers, the uncertainty which permeates all markets will inevitably lead to challenges, not just in terms of carrying out valuations and determining value, but also in the reporting of those values in a way that is both helpful and informative to users. The latest edition of IVS draws reference to this under sections 101 - 105 'General Standards'. At the same time, we should not lose sight of the important role that professional valuers can, and will, play in restoring confidence to turbulent markets through the provision of well-evidenced and transparent valuations.
The IVSC's technical boards have issued a letter looking at valuation during periods of market uncertainty and referencing the most relevant parts of the latest IVS. You can download this letter here:
Valuation professional organisations and service providers across the IVSC’s member network have also been quick to issue and update further guidance and support to valuers at this time - You can find links to this information below.
We recommend that, in addition to consulting the latest edition of the IVS, valuers check with their accrediting professional organisation to make sure they have the latest information to hand. The IVSC’s technical boards are also convening virtually to monitor market developments in order, where required, to issue additional support and direction to valuers in the application of IVS within the current context.
On behalf of the IVSC I offer my thoughts and best wishes to all our stakeholders, their staff, members, clients and families at this challenging time.
Nicholas Talbot, IVSC Chief Executive
The links below will direct you to the latest insights, research and guidance in relation to the Covid-19 pandemic, published by valuation organisations and professional bodies around the world.
* This information is intended only to act as a useful central repository of content on Covid-19 from a valuation perspective. The IVSC is not responsible for, nor can it guarantee the veracity of, the content published. *
Information last updated: Friday 24 April, 2020
Valuation service providers – IVSC sponsor and member organisations
Many valuation professional service firms are publishing (and updating) insights and research on the impact of Covid-19 to business and markets. New updates are added regularly and you can find the latest information, issued by IVSC sponsors and members, linked below:
Responding to COVID-19
Responding to COVID-19: Updates and practical steps
- Duff & Phelps:
Coronavirus (COVID-19) and Managing the Risks to Your Organization
- Grant Thornton:
Responding to COVID-19
- Houlihan Lokey:
- Newmark Knight Frank:
A guide to the business implications of COVID-19
COVID 19: Supporting Your Business
Valuation Professional Organisation members of the IVSC
Valuation Professional Organisation (VPO) members of the IVSC throughout the world are issuing updates and further guidance to their members in relation to the pandemic. These updates include, in certain cases, rules that professionals must abide by as certified professionals. You can find the latest guidance linked below.
- American Institute of Certified Public Accountants (AICPA):
Coronavirus resource centre
- The Appraisal Foundation:
Coronavirus and appraisers
- American Society of Appraisers:
Important COVID-19 Update
- Appraisal Institute:
- Appraisal Institute of Canada:
- Australian Property Institute:
2019 NCOV - Member alerts
- CBV Institute:
CBV Institute COVID-19 Updates
- Chartered Accountants of Australia and New Zealand:
A message to members with regard to novel Coronavirus
Message from the IAAO President
- Indonesian society of Appraisers:
MAPPI Peduli Lawan COVID-19
- Institute of Certified Accountants of England and Wales (ICAEW):
Coronavirus: Practical business advice
- Malaysian Institute of Accountants:
Updates – Covid-19 and Movement Control Order
- Netherlands Register Vastgoed Taxateurs:
Aanvullende informatie NRVT Coronavirus
- Property Institute of New Zealand:
Important update: Coronavirus (COVID-19)
Valuation Notification - COVID-19 (Coronavirus)
- Saudi Authority for Accredited Valuers (Taqeem):