IVS 2019 ED.png

Click image to view

IVS 2017  "Additional Technical Revisions" Exposure Draft

At the end of March 2019 the IVSC issued this exposure draft, inviting comments before the end of June. 

This took some observers by surprise given that only nine months previously another exposure draft of "Proposed Revisions" to IVS 2017 had been issued, but nothing has been heard since.  Were these further alterations to the published IVS 2017 or were they alterations to an as yet unpublished document produced following last year's consultation?

Although no public announcements about a revised edition of the IVS have been made before or during the current consultation, we have heard that an updated edition based on the as yet unknown outcome of the 2018 consultation is due for release in July 2019.  We therefore have the odd situation of proposals being made to change a document, and comments on those proposals required, before it is published.

The latest proposals include introducing a few new definitions, or replacing existing ones, with definitions appearing in the USA standards USPAP, introducing requirements relating to the allocation of value between related assets and new material on the use of automated valuation models.

While we agree with the principles behind most of the proposals we feel that proposed changes will fail to achieve their objective.  You can view our detailed comments here