The International Valuation Standards Council has released a guide that aims to raise awareness of audit procedures among professional valuers in response to heightened scrutiny by regulators of valuations.
The IVSC noted that valuations have a significant impact on a company’s financial performance, and in recent years there has been increasing concern amongst regulators about not only the quality of valuation estimates provided by management, but also the degree of scrutiny of those estimates during the audit process.
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