Sydney-based PwC Partner, Richard Stewart OAM, has been appointed as the next Chair of the IVSC’s Business Valuation Board (BVB). Richard joined the Board as a member in March 2019 and takes over from Andreas Ohl who steps down after a seven-year contribution to the IVSC’s standard setting boards. Richard will also take over from Andreas as the BVB representative on the Standards Review Board which oversees the IVSC’s standards agenda.
During his career Richard has worked in Sydney, Canberra, New York and London and with clients throughout the world, specialising in valuation and financial advisory services. His expertise in valuation has been recognised externally by his appointment as an Adjunct professor in this area in the Business School of the University of Technology, Sydney, and through his membership of the Australian Valuation Standards Committee. Richard was awarded the Order of Australia Medal (OAM) in 2015 for services to the accounting profession.
Andreas Ohl has chaired the BVB since its inception in 2017 and before that was a member of the IVSC’s overarching standards board. He has led the Board’s work on revisions and updates to the International Valuation Standards in 2017, 2020 and 2022, through which global standards for the valuation of business and intangible assets have been greatly enhanced. Most recently, Andreas has overseen the BVB’s work to issue Perspectives Papers on topics including Goodwill, Intangibles and ESG.
”We thank Andreas for his dedication and commitment to IVS and for the passion with which he has championed the global valuation profession during his time with the IVSC. The BVB has become established and respected across the valuation world and the IVS have undoubtedly benefited through Andreas’ expertise and strong leadership. Richard is the perfect candidate to take over the role of Chair and brings with him a deep and very international valuation expertise, along with a collaborative approach which will see the BVB and the standards go from strength to strength.Nick TalbotIVSC Chief Executive
”While we have made a number of improvements to the standards over the past few years, I am most proud of our Perspective Papers on topics such as goodwill, and intangibles. These papers have been widely circulated and I believe have enriched the business community's understanding of these topics. I wish Richard all the best as he steps in during an exciting time for the valuation profession.Andreas OhlOutgoing Chair, IVSC BVB
”Andreas has big boots to fill. Under his stewardship, the Board has made considerable progress in informing the business community on valuation relevant issues, both through updates to the IVS and through our Perspective Papers. The business valuation sector is evolving rapidly. The BVB will need to continue to work collaboratively and with agility to ensure the standards reflect and meet users’ needs. I am looking forward to working with my fellow Board members as we embark on the next stage of this evolution.Richard Stewart OAMChair, IVSC BVB
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