Z. Christopher Mercer, founder and CEO of Mercer Capital, became the latest U.S. member to join the International Valuation Professional Board of the International Valuation Standards Council (IVSC), according to a recent IVSC release. Dr. Cindy Ma, a managing director and co-head of Houlihan Lokey’s Portfolio Valuation Practice, joined the International Valuation Standards Board. Greg Forsythe, a director in Deloitte Financial Advisory Services’ valuation practice, will move from Vice Chair to Chair of the Professional Board.
In other highlights from the IVSC’s annual meeting in Hong Kong last week, the Professional Board approved the updated Code of Ethical Principles for Professional Valuers as well as a revised paper on “The Professional Valuer” for release as an exposure draft. The board has also nearly completed three technical information papers on the discounted cash flow approach and the cost approach for both tangible and intangible assets, to be published in 2012. Also slated for next year: publication of exposure drafts on fairness opinion guidelines and contributory asset charges.
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