The International Federation of Accountants (IFAC) and the International Valuation Standards Council (IVSC) have just signed a memorandum of understanding to enhance their respective impact on valuation issues, “particularly those related to improving the consistency of global valuation standards affecting the preparation and audits of financial reports,” says their news release.

“Valuation standards, coupled with clear accounting and auditing principles, are key to the efficiency of the global market economy,” says Michel Prada, Chair of IVSC’s Board of Trustees.  The MOU demonstrates “the cohesive and united approach of the IVSC, IFAC and the International Auditing and Assurance Standards Board (IAASB) to maintaining standards as global markets continue to develop.”