The International Valuation Standards Council (IVSC) is an independent, not for profit, private sector organisation incorporated in the US and with its headquarters in London. The IVSC develops and promotes technical and ethical standards for the conduct of valuations on which investors and others rely.
The IVSC is responsible for developing the International Valuation Standards and associated technical guidance. To ensure that the public interest is effectively protected it also engages with other bodies active in the regulation of the financial markets to ensure that valuation issues are properly understood and reflected.
The IVSC is governed by a Board of Trustees responsible for the strategic direction and funding of the Council. In September 2012 Sir David Tweedie was appointed as chairman of the Trustees. The trustees are responsible for the appointment of two autonomous operational boards:
- The IVSC Standards Board is responsible for the development and maintenance of the International Valuation Standards, and for producing technical guidance to support the standards. It is currently chaired by Steven J Sherman, who is a partner in the US practice of KPMG and chair of KPMG's global valuations committee.
- The IVSC Professional Board is responsible for the development of the valuation professional globally through promoting consistent education and standards of ethical and professional conduct. It is currently chaired by Gregory Forsythe, a director in the Valuation practice of Deloitte Financial Advisory Services LLP in the United States.
In developing its standards and technical guidance the IVSC follows a process of issuing discussion papers and exposure drafts for public comment. The Standards Board and Professional Board meetings are open to observers.
The IVSC published a set of updated International Valuation Standards in July 2011, and its workplan includes various projects to develop further technical guidance and standards.
The IVSC works co-operatively with national professional valuation institutes, users and preparers of valuations, governments, regulators and academic bodies, all of whom can become members of the IVSC and play a role in advising the Boards on their agenda priorities.
Read more about International Valuation Standards Council: Valuation Professional Organisation Members, Corporate Members, Institutional Members, History, Funding
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