In 2016, the finance ministers of the Asia-Pacific Economic Cooperation (APEC) region invited the IVSC to lead an initiative to enhance valuation practices through the widespread use of IVS across the APEC region. IVS is the set of international valuation standards from the International Valuation Standards Council (IVSC). Former IVSC trustee, Nicholas Brooke, leads this initiative, which is targeted at both tangible and intangible assets, although the latter is the area of greatest need and one that requires the most attention. Brooke notes that significant progress has been made both in the Philippines and in Mexico where the regulators have now fully adopted IVS 2017 as the principal standard, with guidance notes provided to local valuers to assist them to address local legislation and conditions that are specific to that economy. You can read more about the APEC developments if you click here.