IVSC is pleased to announce that Susan DuRoss has been appointed the new Chair of the Standards Review Board (“SRB”). Susan will take up the role in March 2023 and takes over from Mark Zyla who has led the board since 2017.
Susan is Executive Director, Global Valuations, at Harvest Investments and has been a member of the SRB since October 2018. She will oversee the work of the Board for an initial three-year term.
The SRB is responsible for the development of the IVS General Standards (IVS 101- IVS 105) and also oversees the work of the IVSC’s three technical standards boards covering Tangible Assets, Business Valuation and Intangibles, and Financial Instruments. In April, the SRB will issue an Exposure Draft for consultation proposing changes to the IVS which are scheduled to come into effect from 2024.
Susan takes over from Mark Zyla who has led the Board since 2017, during which time the IVSC has issued two editions of the International Valuation Standards, established and appointed international experts to the three technical standards boards, run an Agenda Consultation, and seen the formation of important collaborations with the likes of IOSCO, the World Bank and the United Nations, in the pursuit of international standards in the public interest.
”On behalf of everyone at the IVSC and the many thousands of valuation professionals throughout the world who use the IVS, I would like to thank Mark for his significant contribution to the valuation profession. Mark has dedicated his time and extensive knowledge and expertise to support the IVSC and has played an integral role in the development of the standards over the last six years. On a personal level, I have enjoyed working with Mark and have appreciated his wise contribution to the standard-setting process. I am sure he will remain a very active supporter and champion for international standards. I would also like to congratulate Susie on her appointment as the new Chair of the SRB. In the short time she has been on the Board, Susie has become an invaluable source of expertise and will lead the standards boards through an important year ahead with a public consultation on changes to IVS scheduled to take place in April 2023.Nick TalbotIVSC Chief Executive
”I am looking forward to taking on the role of Chair of the Standards Review Board and would like to congratulate Mark Zyla for all that the SRB and technical boards have achieved during his Chairmanship. The International Valuation Standards (IVS) are increasingly being adopted and accepted throughout the world and will continue to focus on defining global best practice in valuation. One of the reasons IVS is so well respected around the world is because they are developed in an transparent and collaborative way, by international experts and with the benefit of public consultation. In April 2023 we will issue a new Exposure Draft outlining proposed updates to the IVS, with an indicative effective date of July 2024. This is an important exercise and one that the technical boards have been working towards for some time. I am proud to be asked to Chair the SRB through this process and beyond and look forward to working with fellow board members, and valuation stakeholders around the world, to ensure the next iteration of IVS represents yet another step forward for the global valuation profession.Susan du RossIncoming Chair of the IVSC's Standards Review Board
”I am grateful for the opportunity to Chair the Standards Review Board of the IVSC for the past six years. I am particularly thankful for all hard work of the members of the SRB and the various technical boards, as well as the technical directors and staff of the IVSC in developing and promoting truly global valuation standards. International Valuation Standards greatly enhances the public trust in valuations in general and our profession in particular. Working with dedicated professionals through the IVSC to achieve these goals has been one of the most rewarding aspects of my career.Mark ZylaChair of the IVSC's Standards Review Board