This week, the Royal Institution of Chartered Surveyors (RICS) issued Application of RICS Valuation- Professional Standards in the U.S. Guidance Note 1 (USGN1). The new note will help RICS members apply the most current “Red Book” in compliance with U.S. jurisdiction, a RICS release explains. “The Red Book ensures that valuations are produced with high standards of integrity, clarity and objectivity and fully incorporates the new International Valuation Standards (IVS),” says the RICS release.
"USGN1 will be of immediate practical use for members, ensuring clear and consistent implementation in a specifically U.S. context, and so providing further assurance to clients of the benefits of using RICS-qualified expertise," adds David Park, chair of the RICS Global Valuation Standards Board. "It has been a privilege and a pleasure to work with RICS Americas colleagues on developing the document."
RICS members (or subscribers) can download USGN1 here.