IVSC launches public consultation on changes to the International Valuation Standards
April, 28, 2023
The International Valuation Standards Council (IVSC) has just announced the launch of a 3-month public consultation on proposed changes to the International Valuation Standards (IVS).
The consultation that begins today invites input from a diverse range of stakeholders, including industry professionals, regulators, investors, financial institutions, and other parties involved in the preparation, review, or reliance on valuations, to ensure that various perspectives are considered in the improvements to the IVS.
The launch of this public consultation aims to obtain opinions to improve the clarity, usefulness, and overall effectiveness of the IVS, thereby promoting consistency and confidence in the overall assessments.
According to the International Valuation Standards Council (IVSC), the proposed changes have been developed by the Standards Review Board and the IVSC Technical Boards, which are made up of valuation experts from around the world, who work together to improve the standards. These updates take into account several factors, such as ongoing changes in global markets and valuation practices, the increasing use of technology and data sources, the growing demand for clarity in valuation processes, and the need to address new types of assets and liabilities, including environmental, social and governance (ESG) factors.
During the consultation period, stakeholders can submit comments via the IVSC’s online consultation platform, or by email to IVSC Technical Director Alexander Aronsohn (firstname.lastname@example.org). The IVSC will also organise a series of webinars in May 2023 to discuss the proposed changes.
Following the consultation, the next edition of the IVS is expected to be published in January 2024, with an effective date of July 2024.
The International Valuation Standards Council is an independent, not-for-profit, private-sector organisation incorporated in the United States and with its operational headquarters in London, United Kingdom. IVSC develops international technical and ethical standards for valuations that are trusted by investors and others.
For more information, please see:https://www.ivsc.org/consultations/ivs-exposure-draft-for-consultation-2023/