The International Federation of Accountants and the International Valuation Standards Council have renewed their memorandum of understanding and plan to strengthen their mutual efforts to improve confidence in business reporting.

The MoU, which was originally signed in 2009, creates a process to allow valuers and auditors to gain a better mutual understanding of the standards that are relevant to financial statements. The deal will also help both IFAC and the IVSC to pursue their objective of maintaining confidence in business reporting in both the public and private sectors. Actions under the MoU are designed to promote the credibility and acceptability of valuations prepared in accordance with the International Valuation Standards.

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