At a meeting in San Francisco last week, members of the International Valuation Standards Committee (IVSC) unanimously approved the organization’s restructuring proposal (see BVWire # 52-4). This “overwhelming support” came not only from constituents but also “from valuation and accounting firms, academia, and major users of international valuation services,” according to current Chair, Joe Vella. Key components of reorganization include a non-governmental standard setter, a standards board addressing all valuation issues, and “a place for all stakeholders to have a voice.” IVSC members will vote on new by-laws and regulations at the 2007 annual meeting in London in October, 2007; for more information, visit the IVSC website.
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