The International Valuation Standards Council (IVSC) and The World Association of Valuation Organisations (WAVO) are strengthening ties by signing a memorandum of cooperation (MOC) to jointly promote the importance of adopting the international valuation standards. The MOC will be accomplished, in part, with WAVO encouraging its members to adopt standards that are compliant with the IVSC standards. In addition, WAVO will seek to educate, train, and promote the use of IVSC standards to its members and other valuation organizations. The MOC was signed last week during the 8th WAVO Congress in Daegu, Republic of Korea.

“The MOC is an important step towards establishing a long-term relationship between IVSC and WAVO,” says Sir David Tweedie, IVSC board chairman. “We will capitalize on the wealth of knowledge and wide network of both organizations in our common goal of establishing a globally accepted set of valuation standards.” Dr. Lim Lan Yuan, WAVO executive president, added: “There are various valuation standards in certain parts of the world such as those in the Asia Pacific region. We are happy to collaborate with IVSC, and will take the opportunity with this MOC to educate, train and develop the valuation profession to adopt a globally accepted set of standards.”