IVSC has taken a significant step towards furthering its mission of promoting and enhancing valuation standards globally with the appointment of four new experts to its Tangible Assets Board (TAB).
Tangible assets, including real estate, plant and machinery, and other physical assets, are a crucial component of the global economy. Accurate and consistent valuation of these assets is of paramount importance as the world’s greatest store of net wealth, which is why the IVSC is dedicated to fostering the development of high-quality, transparent, and ethical valuation practices for tangible assets.
The new appointees bring a wealth of practical experience in the valuation of tangible assets. They are prominent in their fields and include experts in ESG and risk management. Their appointment will broaden the geographic footprint of the TAB and enhance its collective skillset.
”We are pleased to welcome these highly regarded individuals to the Tangible Assets Board. With their appointment, the board's expertise and impact in shaping the global standards for tangible asset valuation will be further amplified, solidifying the IVS as the primary framework for valuation practice worldwide.Kim S HildebrandtIncoming Chair, IVSC Tangible Assets Board
The new board members are: Ron Cohen (Director, Israel IVS Forum), Becky Gaughan (Head of Quality and Risk Management, Europe, CBRE), Kyle TenHuisen (Managing Director, Valuation Advisory, Stout, United States) and Paakow Winful (Director, Global Tangible Assets Valuations & Advisory, Taqeem, Saudi Arabia). They will take up their roles on the TAB from 1 April 2023 on an initial three-year term.
”International Valuation Standards play a crucial role in ensuring transparency and efficiency in European and Global property markets. I am very proud to have been appointed to the IVSC’s Tangible Assets Board, and I am looking forward to playing my part in championing consistency and clarity in the International Valuation Standards as our markets progress.Becky GaughanHead of Quality and Risk Management, Europe, CBRE
”Collaboration, development, and adoption of international valuation standards specific to tangible assets will only become more important as the complexity of our global economy increases. I am excited to collaborate with my highly regarded international peers to promote consistency and professionalism as we further the goals of the IVSC as part of the Tangible Assets Board.Kyle TenHuisenManaging Director, Valuation Advisory, Stout, United States
”In an age of Fair Value accounting there is a clear need for consistent, rational and defensible valuations. Global investors in particular need to have trust in the valuations of assets and liabilities. It is a great honour to be appointed to the IVSC’s Tangible Assets Board and to take on the mantle of helping to shape the future of the IVS.Ron CohenDirector, Israel IVS Forum
”The International Valuation Standards matter - effective governance guides valuers in the proper conduct of the profession, and they foster stakeholder trust. To this end, I am proud to make an impactful and sustainable contribution to the IVSC, and to the wider valuation profession, in the public interest.Paakow WinfulDirector, Global Tangible Assets Valuations & Advisory, Taqeem, Saudi Arabia
The IVSC is committed to fostering the development of high-quality, transparent, and ethical valuation practices for tangible assets. The appointment of these new experts to the TAB is a testament to the IVSC’s continued commitment to this mission.
In April, the IVSC will publish an Exposure Draft outlining proposed updates to the International Valuation Standards. The consultation, which will run for 12-weeks, will seek feedback on changes including new standards for ‘data and inputs’ and explicit references to ‘ESG’ within the valuation process. An updated version of IVS is expected to be published in 2024.