During the recent annual meetings of the International Valuation Standards Council (IVSC) in Bali, there was a session, Around the World in 80 Valuations, hosted by the International Institute of Business Valuers (iiBV). The session demonstrated the range of international business valuation issues and complexities, reports Michael Badham, executive director of iiBV.

Worldwide standards: Badham and Edwina Tam, a partner at Deloitte and chair of the iiBV, attended the IVSC meetings, which focused on the rollout of the IVSC’s 2017 Standards (IVS 2017) and the implementation of the IVSC’s organizational and strategic plans for the next two years. IVS 2017 is set to be issued in early 2017, and the IVSC will push for worldwide adoption. At the Standards Board meeting, Sir David Tweedie said, bluntly, that “valuation is not a profession. If valuers wish to become a profession, and continue with self-regulation, then VPOs must adopt IVS and enforce compliance—no exceptions.” The pre-publication draft of IVS 2017 has been is released and is available here.

For more of Badham’s coverage of the event, click here.