International Valuation Standards
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For property professionals in Australia there has been an increasing shift towards International Valuation Standards (IVS). The International Valuation Standards Council (IVSC) is an independent, not-for-profit organisation that produces and implements universally accepted standards for the valuation of assets across the world in the public interest. The IVSC has developed a set of IVS for many types of assets, including real estate, plant and equipment, intangible assets and businesses. International users and providers of valuation services recognise the need for a global approach to valuations and are demanding conformity with IVS.
The Australian Property Institute became an inaugural member of the IVSC in 1981 and continues its membership today. The API adopted the IVS word-for-word in 2007. API Members have a mandatory compliance requirement in relation to IVS.
In August 2019, the International Valuation Standards Committee (IVSC) announced that the latest version of the International Valuation Standards (IVS), which will become ‘effective’ on 31 January 2020, are now available for downloading.
The latest edition of IVS supersedes IVS 2017 and will become effective from 31 January 2020. Early adoption is being encouraged by the IVSC.
A copy of the updated version is available at the links below:
- A full PDF copy of the latest IVS (effective 31 January 2020)
- A ‘red-line’ version of the latest IVS showing the changes made since IVS 2017
Access to the International Valuation Standards
As part of our service to Members, current API members can also access the IVS2017 and IVS2013. This is a saving of £80 per user (as at December 2018).
Not a member? Join now to access this and many other benefits.