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July 19, 2011

IVSC issues valuation standard

The International Valuation Standards Council (IVSC) has issued a new international valuation standard aimed at increasing the confidence of users of valuation services.

The new International Valuation Standards (IVS) will cover the valuation of a wide range of assets: financial instruments, real property, intangible assets and business interests.

The IVSC said capital markets need to have confidence in valuations and following, “numerous inquests into the 2008 financial crisis, regulators and the G20 have acknowledged that proper valuation standards and effective regulation are necessary for improved financial stability.”

IVSC standards board chairman Steven Sherman said since valuation is, “key to financial decision making, whether for investment or for measuring performance throughout the financial system, an up to date and robust set of standards is needed to help eliminate avoidable risks.”

IVSC board of trustees chairman Michel Prada said the financial crisis has provoked serious debate about the role and reliability of valuations and their impact on financial markets.

“The ambition of the IVSC is clear – to provide standards and guidance that improve the quality and reliability of valuations globally,” she said.

The new IVS will be effective from January 2012.

IVCS membership consists of several different financial organisations including Deloitte, Ernst & Young, KPMG and Grant Thornton.

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