The International Professional Standards (IPSs) are standards that govern the competency of valuation professionals, through codes and benchmarks for their conduct, capability and competency.
IPSs provide the framework for suitably trained valuation professionals acting in an ethical manner.
IPSs exist and are developed to:
- protect the public interest by ensuring that professional valuers observe high standards of professional and ethical conduct
- improve the credibility of the valuation profession and enhance public trust and confidence in the profession
- increase the supply and demand for qualified professional valuers in sectors or markets where the professional infrastructure is weak or non-existent.
The IPSs have been drafted and the Professional Board is now reviewing Comment Letters received on the Exposure Drafts.