Published 27 October 2014
Some of the world’s largest professional valuation organisations will commit to comply with a single global set of standards for valuing assets after the International Valuation Standards Council signed a memorandum of understanding on Friday.
The Australian Property Institute said it was a significant step towards increasing confidence in the standard of care in global valuation. There’s been no single set of global standards.
Organisations that signed the memorandum were:
American Society of Appraisers
Appraisal Institute of Canada
Asociación Profesional de Sociedades de Valoración (Spain)
Australian Property Institute
Canadian Institute of Chartered Business Valuators
Chamber of Professional Appraisers – Kazakhstan
China Appraisal Society
Expertise Institute for Valuation of Assets of Georgia
Hong Kong Institute of Surveyors
Institute of Philippine Real Estate Appraisers
Instituto Brasileiro Avaliacoes (IBAPE)
Indonesian Society of Appraisers
Nigerian Institute of Estate Surveyors & Valuers
Property Institute of NZ
Republican Chamber of Appraisers Kazakhstan
Royal Institution of Chartered Surveyors
Slovene Institute of Auditors
South African Institute of Valuers
Thai Valuers Association
Attribution: IVSC release.