International Valuation Standards 2017 (IVS) is key guidance for valuation professionals globally. This guidance is published by the International Valuation Standards Council (IVSC),  with the goal of underpinning consistency, transparency and confidence in valuations. This latest version brings depth to IVS, as was requested by the organization’s members, including the major accountancy firms and other stakeholders.

The IVS were created following an extensive consultation with more than 100 official comment letters from a range of stakeholders, including valuation profession organizations, individual professionals and academics. IVS 2017 comprises five general standards and six asset standards. The general standards set requirements for the conduct of all valuation assignments including establishing the terms of a valuation engagement, bases of value, valuation approaches and methods, and reporting. The asset standards include requirements related to specific types of assets, including background information on the characteristics of each asset type that influence value and additional asset-specific requirements regarding common valuation approaches and methods used.

Sir David Tweedie, IVSC Chairman, says: “IVS 2017 represents the latest in IVSC’s continuing commitment to developing high-quality valuation standards. The valuation of assets, both tangible and intangible, plays an essential role in financial and real estate markets – and therefore the global economy. IVS 2017 will be instrumental in improving valuation practice and will bring greater efficiency to capital markets.”