IVSC 2028 Consulation Draft Launched
The IVSC has issued a consultation draft on proposed changes to the International Valuation Standards (IVS). The revised standards are due to be published early next year, with an “effective date” in January 2028, although in practice when they become effective is a matter for those adopting them.
The main changes proposed are:
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A new IVS 107 on Quality Controls – this replaces the section on Quality Control in the current IVS 100.
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The IVS 200 series on businesses and business assets have been rewritten to give instructions to valuers rather than discuss concepts.
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IVS 410 Development Property has been merged with IVS 400 Real Estate.
There are many changes in the detailed wording in some of the other standards.
You can access the Exposure Draft and associated documents via the links below:
Key Issues we believe need to be addressed in the proposed standards are:
Who are the standards for?
Assumptions and special assumptions
Given the influence that the IVS have on other valuation standards, most notably the RICS Red Book, we encourage all valuers to look at what is proposed for the sectors in which they practice and tell the IVSC what you think. Comments are required before 30 April 2026.
While the IVSC has issued a list of consultation questions, this in the form of a PDF document, with no space for answers. To assist those who need to collaborate with colleagues in preparing a response we have produced a Word document with the IVSC’s questions and provision beneath each for your answer. Please feel free to download.
We have now reviewed the proposed standards. There are some changes we agree with, some we do not agree with and some that we believe should have been made but have not. You can see our intial draft responses to theproposed new standards by following the links in the adjoining panel.
