The Instituto de Administración y Avalúos de Bienes Nacionales (INDAABIN) engaged Duff & Phelps to design and establish a “Code of Ethics and Valuation and Review Standards” to be utilized by all appraisers and reviewers in Mexico. The standards encompass real and personal property as well as business and intangible assets. The work was undertaken as part of a federal valuation reform initiative to raise the quality, transparency, and standards required for valuations in Mexico.