Description

International Valuation Standards (IVS) are a set of globally recognized principles and standards that are used to value assets and liabilities. The IVS are developed by the International Valuation Standards Council (IVSC) and are used by professionals in more than 100 countries. The IVS are important because they: Improve the quality of valuations The IVS help to ensure that valuations are comparable, transparent, and consistent. Support businesses The IVS help to support businesses and reduce financial risks for the public. Are adopted by many countries Many countries have adopted the IVS and incorporated them into their national valuation systems. The IVS are made up of three parts: Framework: This section explains the general principles that valuers should follow. General Standards: This section sets out the requirements for valuation assignments, including the terms of engagement, valuation approaches, and reporting. Asset-specific Standards: There are six asset-specific standards. The IVS are regularly updated by the IVSC's technical boards, which are independent and solicit public comment.