Joining the rest of the Big Four accounting firms, PricewaterhouseCoopers is now an official sponsor of the work of the International Valuation Standards Council. The IVSC seeks to create globally recognized and accepted valuation standards, particularly for financial instruments, and promote quality within the valuation profession. As a sponsor, PwC will provide financial support to the organization and actively contribute to the development and revision of the IVSC’s International Valuation Standards and the advancement of its road map for a high-quality professional framework around the world.

“We support the stated objectives of the IVSC, and have been especially encouraged by its recent actions, including the appointment of Sir David Tweedie as the Chairman of the Board of Trustees in September 2012,” says John Hitchins, global chief accountant at PwC.

“The agreement by PwC to provide financial support to the IVSC represents a very positive start to 2014,” says Tweedie. “It is tangible evidence of the growing consensus that the IVSC is enhancing trust in valuation—an activity that is a vital component of the global financial system.”