top of page
IVSC.png

In July 2018 the IVSC issued an exposure draft of some proposed amendments to the current version of the IVSs, which were effective from 2017.  The draft is not easy to find on the IVSC website so here is a link;


IVS 2017 Proposed Revisions Exposure Draft


Comments are required before 16 October 2018

 

Although they may appear minor, many valuers could be affected by these changes, especially members of RICS as the IVS are now part of the Red Book. If you provided lending valuations of property for development or use discounted cash flow on a regular basis, the changes could affect you, and not necessarily for the better!   Any one can comment to the IVSC.  We have already told IVSC what we think so feel free to have a look:

Valuology's Comments to IVSC


While there are a few useful improvements proposed, we are concerned that others are indicative of a trend towards including more inappropriate detail in the IVSs.

 
We believe that the role of the IVS is to establish fundamental principles for the delivery of a valuation assignment for most types of asset (or liability), for most commonly required purposes in most jurisdictions.  This means that they should focus on globally accepted and applicable principles, and not get side-tracked into pronouncing on detail that only relates to particular valuation problem in a particular market.  If this rule is ignored it will hinder the wider adoption and recognition of the standards.  Some of the proposals, and for that matter existing text, step over this line, especially by attempting to set prescriptive requirements for how certain valuation methods have to be applied.





 

bottom of page