Global BV News: Convergence on China’s mind

BVWireIssue 187-3
April 18, 2018

global business valuation
business valuation profession, global business valuation education, international business valuation, international valuation standards council (IVSC), IVSC

In an interviewDr. Zhang Guochun, the secretary general of the China Appraisal Society, said that convergence of valuation standards is one of several ways he’d like to see the valuation profession evolve over the next few years. “Convergence of valuation standards is important as economic globalization drives the need for alignment in our systems and approach,” he says. “IVS has become the most influential professional valuation standard worldwide and countries should actively seek convergence, either directly or through existing standards, so that it becomes the benchmark for valuation practice worldwide.” IVS is the set of global valuation standards from the International Valuation Standards Council (IVSC). The China Appraisal Society has 3,000 institutional member firms, a practicing appraiser membership of 34,698, and a nonpracticing appraiser membership of 3,864, making it the largest valuation professional organization in the country, Dr. Guochun remarked.
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