The Standards Board had a conference call on 23 November and is in the process of revising IVS 2013. The Board has been working with the technical authors Alexander Aronsohn, Adam Smith and Peter Melvin on drafting IVS 104 Bases of Value and is also in the process of drafting IVS 105 Valuation Approaches, Intangible Assets and Liabilities, all of which were identified as initial gap topics required as a result of changing market forces and greater regulatory scrutiny of our profession.
In respect of the gap analysis, the Board would welcome any feedback in relation to proposed additions to IVS 2013 and in the first instance request that any proposed amendments or additions are sent directly to the Technical Authors (firstname.lastname@example.org and email@example.com).
The Board has also agreed a draft work programme for IVS 2016 and is planning for the IVS 2016 Exposure Draft to go into consultation in Q2/Q3 2016. There will be a 90 day consultation process and further to the comments received as part of the consultation process the Board is planning to publish IVS 2016 in the latter half of Q4 2016.
The Board is also considering putting some of the new chapters into consultation prior to this date to ensure that stakeholders have sufficient time to give full consideration to any suggested changes.
In respect of Financial Instruments, there was positive feedback from the recent meeting with the Basel Committee. IVSC is in the process of scheduling a Financial Instruments Roundtable for Regulators for the end of January to define and agree FI issues, and how these should be taken forward by different stakeholder groups.
Finally the Standards Board would like to wish all IVSC members and valuation professionals well over the holiday season. The Board is looking forward to working with you all in the New Year on IVS 2016.