The London-based International Valuation Standards Council has published a set of new International Valuation Standards covering a wide range of assets.
The new standards aim to improve the valuation of assets such as financial instruments, real property, intangible assets and business interests. The main objective is to increase the confidence of users in valuation services and the valuations produced by them.
“The new International Valuation Standards contain globally accepted concepts and principles for the delivery of valuations on which investors rely,” said IVSC Standards Board Chairman Steven Sherman in a statement. “Since valuation is key to financial decision-making, whether for investment or for measuring performance throughout the financial system, an up-to-date and robust set of standards is needed to help eliminate avoidable risks.”
The new standards come after a three-year improvement project by the IVSC to promote consistency and transparency during the valuation process. They include explanations of common valuation methods and principles, along with the procedures that valuation professionals should follow during their assignments.
The standards take effect in January 2012 and can be ordered from the IVSC’s Web site, www.ivsc.org.
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