The Professional Board has confirmed a project to produce a series of Illustrative Examples to assist professional valuers in understanding and correctly applying the principles in the International Valuation Standards, primarily those in the IVS Framework, in different situations. A Work Group has been formed to help advise the Board in the development of the examples.

This will be a phased project with different principles being addressed in separate "chapters". The first chapter will address Bases Of Value. An Exposure Draft was approved for issue by the Board at its meeting in November 2013 was issued for comment at the beginning of January 2014, with a comment periond until 31 March 2014. 

Associated Documents

Project Brief

Working Group:

Board members



Marianna Todorova

Professional Board


Cindy Ma

Standards Board


External Experts



Milton Cations

Property Dynamics


Luke Mackintosh

Ernst & Young


Angelos Malamidis

NBG Property Services


Jerry Mehm



Joao Carlos Mynarski



Milind Shah



Start Date: June 2011

This is a rolling project with examples for different principles being published as approved by the Board.

An Exposure Draft of Chapter 1: Bases of Value was published in early January 2014 woth a comment period expiring on 31 March. 

Exposure Draft - Chapter 1: Bases of Value

The Comment Letters may be viewed here:

30-05-2014 013 Duff and Phelps
29-04-2014 012 IACVA
29-04-2014 011 American Institute of Cerified Public Accountants
29-04-2014 010 PricewaterhouseCoopers
29-04-2014 009 Institute of Chartered Accountants in Engalnd and Wales
29-04-2014 008 Ernst & Young
29-04-2014 007 Wulaia Consulting
29-04-2014 006 KPMG
29-04-2014 005 New York Society of CPAs
29-04-2014 004 American Appraisal Associates
29-04-2014 003 RICS
29-04-2014 002 R Jefferies
29-04-2014 001 Australian Property Institute