September 2024
International Valuation Standards Council (IVSC)
We set the International Valuation Standards (IVS)
In this edition:
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Consultations
The IVSC’s Agenda Consultation will be closing soon, and we are calling on everyone involved in the valuation ecosystem to provide their valuable feedback by the deadline of 9 October 2024. Your input is crucial as we define the work programme for the IVSC’s standards boards over the coming years.
Whether you’re a valuation professional, an end user of valuations, a data provider, a reviewer, a standards setter, or part of a professional body, your perspective matters. Feedback can range from a brief comment to detailed insights—every contribution will be considered and will help shape the future direction of the International Valuation Standards (IVS).
Help us ensure the standards reflect the needs and expectations of the diverse global valuation community. Share your views and be part of this important process before time runs out.?
The Agenda Consultation document highlights several key themes for consideration:
The document also outlines, and seeks feedback on, additional topics that may be considered for future revisions of the IVS, ensuring that the standards remain relevant and comprehensive. The consultation period is now open for 90 days, concluding on 9 October 2024. The IVSC encourages all interested parties to participate and share their insights. Feedback can be submitted by accessing the feedback form linked in the consultation document.
Access the consultation here .
Tangible Assets Valuation
The IVSC has released its latest Perspectives Paper, focusing on the integration of Environmental, Social, and Governance (ESG) factors in the valuation of real assets. Developed by the IVSC Tangible Assets Board, the paper examines how ESG considerations are influencing valuation practices and what this means for the future of the profession.
As ESG becomes a central concern for investors and stakeholders, understanding its impact on real asset valuation is crucial. The paper explores key themes such as the evolving regulatory landscape, the role of data and metrics, and the challenges in quantifying ESG factors within valuation models. It also highlights the need for a unified approach to incorporating ESG in valuations to enhance transparency, consistency, and comparability.
We invite you to read the full paper and gain insights into how ESG is reshaping the valuation of real assets.
Access the paper here .
Europe
The European Central Bank (ECB) has issued a compelling call to action, highlighting the critical need to elevate valuation standards within the commercial real estate sector across Europe. This comes as part of their supervisory inspections programme aimed at ensuring the robustness and accuracy of property valuations used by major banks.
In response, the IVSC’s Europe Committee has reinforced the importance of adopting International Valuation Standards (IVS) to address the challenges raised by the ECB. The IVSC is committed to working closely with regulators, professional bodies, and other stakeholders to support the consistent application of high-quality valuation practices across Europe.
Business Valuation
The European Institute for Advanced Studies in Management (EIASM) Network recently held its 19th?EIASM Interdisciplinary Conference?themed "Intangibles, Sustainability, and Value Creation" on 19 - 20 September 2024. Hosted by Université Grenoble Alpes, the event concluded with a plenary session on "Developing Auditable Sustainability Standards for Value Creation: Towards Connectivity and Integration."
Nicolas Konialidis, CFA, CVA, ASA-BV , Asia Director and Technical Director of the IVSC Business Valuation Board, was invited to join the panel. He shared insights alongside Patrick de Cambourg (EFRAG SRB), Eelco van der Enden (former CEO of the Global Reporting Initiative), Alexandre Rambaud (CERCES), Dr Charles Abela (GRI), and Laura Girella (IFRS Foundation). The session, moderated by Shruti Kashyap ,?explored challenges in standards development and how research can assist this process.
IVSC’s involvement reflects its ongoing commitment to collaborating with academia to create standards that address sustainability and intangible assets, promoting transparency and value creation in the global economy.
Financial Instruments Valuation
We’re excited to bring you the next instalment of the ValuAsia Connect webinar series, hosted by the International Valuation Standards Council (IVSC) and the IVAS - Institute of Valuers and Appraisers, Singapore !
Following the success of our previous sessions on ESG and Intangible Assets , this webinar will explore Financial Instruments—one of the most complex and evolving areas in today’s financial landscape.
What you’ll gain:
This session is a must for anyone looking to stay ahead in the field of valuation! Let’s continue strengthening the connections within Asia’s valuation community.?
Date: 24 October 2024
Time: 2pm (GMT+8)
Location: Virtual (via Zoom)
Featured Speakers:
IVSC AGM
Preparations are in full swing for the IVSC Annual General Meeting (AGM) 2024, set to take place in Hong Kong from 20-22 November. Hosted by the 香港测量师学会 (HKIS), this year’s AGM will bring together leaders from the global valuation community to discuss key developments and the future of the profession.
The event will feature a series of high-level meetings, presentations, and panel discussions led by members of the IVSC’s standard-setting boards and technical committees. Attendees will have the opportunity to engage with experts on topics ranging from the latest updates to the International Valuation Standards (IVS) to emerging trends in sustainability and technology impacting the valuation profession.
Don’t miss this opportunity to network with peers, gain insights into the IVSC’s strategic direction, and contribute to shaping the future of international valuation standards. Click below to find registration details and the full programme.
领英推荐
Africa
Over the past month, IVSC Chief Executive, Nicholas T. , has participated in a range of high-profile events across Africa and Europe, fostering key relationships and raising awareness of the latest International Valuation Standards (IVS).
In?Bucharest, Nicholas gave a keynote at the?ANEVAR and WAVO conference , which brought together global valuation leaders. The event signalled an important step forward for World Association of Valuation Organisations (WAVO), as it aims to enhance its educational platform by collaborating with Valuation Professional Organisations (VPOs) worldwide.
Shortly after, Nick travelled to?South Africa?and?Zambia, where he engaged with key figures from the?Johannesburg Stock Exchange (JSE ),?Standard Bank Group ,?South African Institute of Chartered Accountants (SAICA),?South African Institute of Valuers (SAIV), and more. In Zambia, he delivered a keynote at the?AFRES conference , a key gathering of real estate leaders from across Africa. These events provided the opportunity to meet with influential figures such as the?Valuer General of South Africa?and other leaders from across the continent, including Ghana, Kenya, Nigeria, and Rwanda.
In reflecting on these meetings, Nick noted the growing momentum behind the IVS across Africa:?“Standards and professionalism are as important here as anywhere else. Africa is a key priority for us, and we are exploring the possibility of establishing a staffed presence in the region, contingent on securing the necessary financial support.”
Legal Community
We are pleased to announce a joint in-person workshop organised by The Law Society of Singapore and the IVSC, focusing on the critical role of valuations in today’s financial and legal landscape. Valuations play a fundamental part in economic stability and growth, with applications ranging from financial reporting to mergers and acquisitions, tax, insurance, and more. For the legal community, a strong understanding of valuations is crucial in areas such as litigation, restructuring, contract provisions, and insolvency.
Date: 22 October 2024
Time: 2:30pm - 4:45pm (Singapore Time)
Venue: TBC (details to follow)
Programme Outline:
Featured Speakers:
Survey
The American Society of Appraisers (ASA) , an IVSC Valuation Professional Organisation member, is conducting a brief survey to gather insights on the awareness of international valuation standards, as well as preferences regarding education and credentialing within the global valuation community.
All IVSC members are encouraged to contribute to this important initiative. Your input will provide valuable insights into the current state of the valuation profession across different regions. The survey will take approximately 5 minutes to complete.
ASA is an international, multi-discipline, non-profit organisation of professional appraisers, representing various appraisal specialities, including Business Valuation, Personal Property, Real Property, and more. Their mission is to foster public trust by ensuring the highest levels of ethical and professional standards within the appraisal profession.
Asia-Pacific
Over the past month, Singapore has been a hub of activity for the business valuation and intellectual property (IP) communities. Coinciding with?IP Week @ SG , the IVSC participated as a Supporting Organisation in the?IP Innovation Forum (iPiF’24), organised by the IIPCC Singapore - International Intellectual Property Commercialisation Council Singapore . The event fostered important discussions around the commercialisation of IP.
Nicolas Konialidis, CFA, CVA, ASA-BV , IVSC Asia Director & Technical Director of the Business Valuation Board, engaged with stakeholders to demonstrate how the International Valuation Standards (IVS) complement IP management across organisations and institutions.
Additionally, at the Ciarb Singapore Branch -Intellectual Property Office of Singapore (IPOS) IP & Tech Dispute Resolution Conference , IVSC Business Valuation Board Member Srividya Gopal shared her insights during a panel discussion on the valuation of IP in legal disputes, highlighting key challenges and emerging trends.
As the global landscape evolves, the IVSC remains dedicated to working with legal professionals, business leaders, and valuation experts to ensure the continued development of standards that support transparency and fairness in valuation practices across sectors.
New members
The IVSC is pleased to welcome the following member organisations, as proposed last month:
The following applications were approved by the Membership Committee and are proposed for membership:
If you have any comments regarding proposed members, please provide them by emailing us within 2 weeks via [email protected]
The IVSC's member and sponsor network includes more than 200?organisations, including the leading Valuation Professional Organisations (VPOs); valuation service providers; government and regulatory bodies; academic institutions; and the users of valuation professional services.
If you are interested in finding out more about joining the IVSC and supporting the development of international standards and the global valuation profession then please get in touch via email.
Dates for your diary
Find out more about the major valuation events and conferences taking place around the world and register by clicking the links.
30 Sept - 2?Oct: V20 Summit and Conference , S?o Paulo, Brazil
22 Oct:?IVSC-The Law Society of Singapore,?Demystifying Valuation , Singapore
20-22 Nov: IVSC AGM 2024 , Dorsett Kai Tak,?Hong Kong
28 Nov: APIEx?Symposium 2024 , Singapore
05 Dec: CHFT Advisory & Appraisal 10th Anniversary Party , Hong Kong
05-06 Dec:?EACVA Annual Business Valuation Conference , Dusseldorf, Germany
05-07 Dec: 55th Indian Valuers Congress , Kochi, India
27-30?Oct 2025: IVSC AGM, New Delhi?
Does your organisation have a valuation event coming up? To list it here please email details to [email protected]
Author: "Financial Litigation--Quantifying Business Damages and Values", CPA Canada; Lead Co-Author, “Guide to Canadian Business Valuation”, 3 Vols., (loose-leaf), Thomson Reuters, Toronto; Past President, CBV Institute
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