Valuation Standards Around the World
We have compiled profiles of the valuation regulatory infrastructure in over 100 jurisdictions from around the world. The objective is to provide an oversight of the extent of valuation regulation globally and where and how the International Valuation Standards (IVS) are used.
For each jurisdiction the following information has been collated:
• Any laws or regulations restricting who may provide certain types of valuation and, if so, the types of valuation.
• If there are legal restrictions, the body responsible for certifying or approving valuers.
• If there are any legal or regulatory requirements to use the IVS.
• Whether the government or a government approved body issues or endorses the issue of national valuation standards.
To search for information, select the country or territory from the drop down list below.
A list of valuation profession organisations (VPOs) within each jurisdiction* is also provided together with answers to the following questions:
• Are they an IVSC member?
• Do members have to follow IVS?
• Does the organisation issue its own standards?
• If so, do these include, replace or extend IVS?
* Where a VPO has operations and members in a number of jurisdictions we have only listed them in their place of origin. We have classified any professional organisation that promotes its members as undertaking valuations of real property, business, intangible or financial assets as a VPO.
To compile these profiles we have used information from our own knowledge of the profession and public information available on websites. We acknowledge that there will be inaccuracies and omissions and welcome any additions or corrections. Please contact us with any suggested updates to the current country information or details for any country not listed. If possible, please include links to, or citations of, documents from which the information can be verified.
Additional information and overview of research.
We have also used the information from this research to produce a report on our findings and what lessons we suggest can be learnt for the improvement and advancement of valuation standards around the world. To see this report follow the link below:
Country and Jurisdiction Profiles
CAUTION: The information in these profiles is for general guidance only and will change from time to time. You should not make any decision based on the information in the profiles without taking appropriate professional advice.
The following abbreviations have been used in the profiles:IVSC - International Valuation Standards Council | IVS - International Valuation Standards | TEGoVA - The European Group of Valuers' Associations | UPAV - Union of Pan-American Valuers | iiBV International Institute of Business Valuers
Search Results...
113 results have been found.
Country
ARGENTINA
Are there laws restricting who may provide certain types of valuation? If so, what types of valuation are subject to restrictions?
Information awaited
If there are restrictions, who is responsible for certifying or approving valuers?
Is there a legal or regulatory requirement to use the IVS?
No
Does the government or a government approved body issue or endorse the issue of valuation standards?
Yes
If yes, what are they called
National valuation standards are issued by Tribunal Tasaciones de Nacion TTNI (National Appraisal Agency of Argentina). Use of the standards is mandatory for official activities and have the status of guidelines for general valuation principles. The TTNI is a member of TEGOVA.
The Inspección General de Justicia is the Argentine government agency that regulates private, commercial companies. Between its regulations, there are some that relate to the valuation of assets and liabilities.
There are two standard methodologies approved by the Federación de Consejos Profesionales de Ciencias Económicas (FACPCE; Argentine Federation of Professional Councils of Economic Sciences), which is a professional association for accountants, economists, and actuaries: (a) technical revaluation and (b) revaluation based on IFRS.
Professional bodies whose members provide valuations in the Country
Instituto Argentino de Tasadores (IAT)
Country
NIGERIA
Are there laws restricting who may provide certain types of valuation? If so, what types of valuation are subject to restrictions?
Real property valuations only. There is no direct regulatory oversight of those providing business/intangible asset valuations.
If there are restrictions, who is responsible for certifying or approving valuers?
Decree No.24 of 1975, now CAP E. 13 LFN 2007 established the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON) as the regulatory body for the valuation profession in Nigeria.
Is there a legal or regulatory requirement to use the IVS?
No
Does the government or a government approved body issue or endorse the issue of valuation standards?
Yes
If yes, what are they called
Nigerian Valuation Standards, 2017 (The Green Book)
Professional bodies whose members provide valuations in the Country
Nigerian Institution of Estate Surveyors and Valuers
Country
TURKMENISTAN
Are there laws restricting who may provide certain types of valuation? If so, what types of valuation are subject to restrictions?
Real property valuations only. There is no direct regulatory oversight of those providing business/intangible asset valuations.
If there are restrictions, who is responsible for certifying or approving valuers?
Ministry of Finance and Economy organises qualification exams
Is there a legal or regulatory requirement to use the IVS?
No
Does the government or a government approved body issue or endorse the issue of valuation standards?
Information awaited
If yes, what are they called
Professional bodies whose members provide valuations in the Country
Union of Economists of Turkmenistan
Country
NEPAL
Are there laws restricting who may provide certain types of valuation? If so, what types of valuation are subject to restrictions?
Information awaited
If there are restrictions, who is responsible for certifying or approving valuers?
Is there a legal or regulatory requirement to use the IVS?
Does the government or a government approved body issue or endorse the issue of valuation standards?
If yes, what are they called
Professional bodies whose members provide valuations in the Country
Nepal Valuers Association
Country
ZIMBABWE
Are there laws restricting who may provide certain types of valuation? If so, what types of valuation are subject to restrictions?
Real property valuations only. There is no direct regulatory oversight of those providing business/intangible asset valuations.
If there are restrictions, who is responsible for certifying or approving valuers?
The Valuers Act 1996, which came into effect on February 1 2006 is administered by the Valuers Council of Zimbabwe through the Ministry of Local Government, Public Works, and National Housing. The Act established a Valuers Council to provide for the registration or valuers and the regulation of the practice of valuers
Is there a legal or regulatory requirement to use the IVS?
No
Does the government or a government approved body issue or endorse the issue of valuation standards?
No
If yes, what are they called
n/a
Professional bodies whose members provide valuations in the Country
Real Estate Institute of Zimbabwe
Country
ZAMBIA
Are there laws restricting who may provide certain types of valuation? If so, what types of valuation are subject to restrictions?
Real property valuations only. There is no direct regulatory oversight of those providing business/intangible asset valuations.
If there are restrictions, who is responsible for certifying or approving valuers?
The Valuation Surveyors Registration Board was established under the Valuation Surveyors Act.
Is there a legal or regulatory requirement to use the IVS?
No
Does the government or a government approved body issue or endorse the issue of valuation standards?
No
If yes, what are they called
n/a
Professional bodies whose members provide valuations in the Country
Surveyors Institute of Zambia
Country
UGANDA
Are there laws restricting who may provide certain types of valuation? If so, what types of valuation are subject to restrictions?
Real property valuations only. There is no direct regulatory oversight of those providing business/intangible asset valuations.
If there are restrictions, who is responsible for certifying or approving valuers?
The Surveyors Registration Act of 1974 provides for the establishment of the Surveyors Registration Board (the “Board”). One of the requirements of registration is membership of the ISU, which processes all applications on behalf of the Board.
Is there a legal or regulatory requirement to use the IVS?
No
Does the government or a government approved body issue or endorse the issue of valuation standards?
No
(Note: The Ministry of Lands, Housing and Urban Development has issued a tender for the development of national valuation standards)
If yes, what are they called
n/a
Professional bodies whose members provide valuations in the Country
Institution of Surveyors in Uganda
Country
TANZANIA
Are there laws restricting who may provide certain types of valuation? If so, what types of valuation are subject to restrictions?
Real property valuations only. There is no direct regulatory oversight of those providing business/intangible asset valuations.
If there are restrictions, who is responsible for certifying or approving valuers?
The Valuation and Valuers Regulation Act (2016) established a Valuers Registration Board.
Is there a legal or regulatory requirement to use the IVS?
No
Does the government or a government approved body issue or endorse the issue of valuation standards?
Valuation methodology is prescribed in various Acts, most recently the Valuation and Valuers Registration Act 2016, which explicitly provides guidance on valuation practices.
If yes, what are they called
Professional bodies whose members provide valuations in the Country
Association of Real Estate Professionals of Tanzania
(AREPTA)
Country
SOUTH AFRICA
Are there laws restricting who may provide certain types of valuation? If so, what types of valuation are subject to restrictions?
Real property valuations only. There is no direct regulatory oversight of those providing business/intangible asset valuations.
If there are restrictions, who is responsible for certifying or approving valuers?
The South African Council for the Property Valuers Profession (established in 1983 as the South African Council for Valuers) is a statutory body. All valuers must be registered with the Council.
Is there a legal or regulatory requirement to use the IVS?
No (see below)
Does the government or a government approved body issue or endorse the issue of valuation standards?
The SACPVP makes IVS 2017 available to all registered valuers on its website.
If yes, what are they called
Professional bodies whose members provide valuations in the Country
South African Institute of Valuers (SAIV)
South African Institute of Chartered Accountants (SAICA)
South African Council for Property Valuers Profession (SACPVP)
Country
RWANDA
Are there laws restricting who may provide certain types of valuation? If so, what types of valuation are subject to restrictions?
Real property valuations only. There is no direct regulatory oversight of those providing business/intangible asset valuations.
If there are restrictions, who is responsible for certifying or approving valuers?
The Institute of Real Property Valuers (IRPV) was established in 2010 under the law establishing and organising the real property profession in Rwanda. The Regulatory Council for Real Property Valuation certifies valuers and a list can be viewed at the National Land Centre (NLC), Ministry of Natural resources. IRPV is overseen by the NLC.
Is there a legal or regulatory requirement to use the IVS?
No
Does the government or a government approved body issue or endorse the issue of valuation standards?
No
If yes, what are they called
n/a
Professional bodies whose members provide valuations in the Country
Institute of Real Property Valuers in Rwanda (IPRV)
Country
NAMIBIA
Are there laws restricting who may provide certain types of valuation? If so, what types of valuation are subject to restrictions?
Real property valuations only. There is no direct regulatory oversight of those providing business/intangible asset valuations.
If there are restrictions, who is responsible for certifying or approving valuers?
The Property Valuers Profession Act 2012 established the Namibian Council for Property Valuers Profession for the registration of valuers.
Is there a legal or regulatory requirement to use the IVS?
No
Does the government or a government approved body issue or endorse the issue of valuation standards?
No
If yes, what are they called
n/a
Professional bodies whose members provide valuations in the Country
Nambian Institute of Valuers
Country
MALAWI
Are there laws restricting who may provide certain types of valuation? If so, what types of valuation are subject to restrictions?
Real property valuations only. There is no direct regulatory oversight of those providing business/intangible asset valuations.
If there are restrictions, who is responsible for certifying or approving valuers?
Valuation in Malawi is undertaken by Real Estate professionals registered under the Land Economy
Surveyors, Valuers, Estate Agents and Auctioneers' Act of 1989.
Is there a legal or regulatory requirement to use the IVS?
No
Does the government or a government approved body issue or endorse the issue of valuation standards?
No
If yes, what are they called
n/a
Professional bodies whose members provide valuations in the Country
Surveyors Institute of Malawi