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. API Members have a mandatory compliance requirement in relation to IVS.
International Valuation Standards 2017
IVS 2017 is the latest version of the standards which came into effective on 1 July 2017.
IVS 2017 are arranged as follows:
- The IVS Framework
- IVS General Standards
- IVS 101 Scope of Work
- IVS 102 Investigations and Compliance
- IVS 103 Reporting
- IVS 104 Bases of Value
- IVS 105 Valuation Approaches and Methods
- IVS Asset Standards
- IVS 200 Business and Business Interests
- IVS 210 Intangible Assets
- IVS 300 Plant and Equipment
- IVS 400 Real Property Interests
- IVS 410 Development Property
- IVS 500 Financial Instruments
All valuations prepared in compliance with IVS 2017 must conform to the principles and procedures elaborated throughout the entire document (unless contrary to Australian law or practice).
Access to the International Valuation Standards
As part of our service to Members, current API members can 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.