The Big Four firm has contributed financial and staff support to IVSC since the organisation was founded, but now it’s aligning professionally with the need for harmonised standards in the form of the IVS. ‘Our proprietary global valuation standards provide guidance for our valuation practitioners and are consistent with local authoritative valuation guidance, as well the International Valuation Standards issued by the IVSC. It was important for us to establish guidelines that are in compliance with the IVS, as the IVSC is the most globally recognized source for valuations standards.’
So say Mark Pighini, global leader, and Stamos Nicholas, global regulatory and compliance leader, of Deloitte’s Valuation & Modeling division.
‘The very fact that valuation is largely unregulated around the world today makes it more and not less important to have strong professionalism and consistent, internationally recognised and applied guidance. Companies, investors, regulators, auditors and the global financial community as a whole rely on business valuation professionals now more than ever, so it’s imperative that we operate similar to CPAs, doctors, lawyers, and other qualified professionals for the benefit of clients and in the public interest.
‘Robust and consistent practice serves as a framework for, and an enabler of, professionalism,’ Pighini and Nicholas conclude.
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