An iiBV task force has issued a report on establishing an international designation for business valuers. One of the recommendations is the creation of a designation to be known as the “IBV” (International Business Valuer) that would be appended to the qualified VPO’s designation and administered by the VPO.
In an interview, two task force members were asked about the main benefit of the international designation to the valuation profession globally. “An international designation for business valuers will provide a minimum level of standard, both for the professionals as well as the clients engaging these professionals so that there are no expectation gaps in terms of technical and professional standards to be followed in a valuation engagement,” says Edwina Tam (Deloitte Hong Kong). “Especially in Asia, where valuation practices can diverge quite significantly, this will help improve and provide a minimum level of uniformity for the profession and provide assurance to buyers of valuation services that the analysis is consistent with other areas around the globe.”
“The international designation will give professionals credibility,” adds Jeannine Brooks (EPR Canada Group Inc.), chair of the task force. “They will be recognized everywhere in the world as providing confidence for business owners making financial decisions. The recognition and reputation of the BV profession will be enhanced by the consistency in high standards in education and accreditation.”
The iiBV is developing an implementation plan for the global designation that is scheduled to launch in 2017.
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