The API is seeking expressions of interest from appropriately qualified and experienced valuation professionals to volunteer to represent the API on the International Valuation Standards Council (IVSC) – Advisory Forum Working Group (AFWG).

The AFWG, comprised of global representatives from individual Valuation Professional Organisations (VPO), plays a crucial role in enhancing the development and implementation of international valuation standards. Its primary functions include:

  • Expert Consultation: Bringing together professionals from various sectors to provide expert insights and feedback on valuation standards and practices.
  • Stakeholder Engagement: Facilitating communication between the IVSC and stakeholders, including valuation practitioners, regulators, and other relevant organizations, to ensure diverse perspectives are considered.
  • Guidance and Recommendations: Offering recommendations on the evolution of valuation standards, addressing emerging issues, and promoting best practices in the valuation profession.
  • Education and Awareness: Supporting initiatives to increase awareness and understanding of valuation standards among practitioners and stakeholders.

Overall, the Working Group aims to ensure that the IVSC’s standards are robust, relevant, and aligned with the needs of the global valuation community.

International Valuation Standards (IVS) serve as the key guide for valuation professionals globally to underpin consistency, transparency and confidence in valuations.

IVS are central to the IVSC’s mission to raise standards of international valuation practice as a core part of the financial system for the benefit of capital markets and the public interest.

The AFWG is consulted by the IVSC Standards Review and other Asset Boards, the identification and prioritisation of projects and is consulted annually on the IVSC strategy and work programme to help establish and support:

  • Significant issues relating to the development of an IVS
  • Significant issues relating to IVS Revisions and consequential amendments
  • Significant issues raised in comment letters on IVS Exposure Drafts and the SRB’s related response.
  • The overall development of an International Valuation Standard

The AFWG meeting schedule is as follows:

  1. Mid-year AFWG face to face meeting London (May)
  2. AGM (October) – rotated Asia, Europe and Americas
  3. Online meetings throughout the year depending on the IVSC consultation agenda

The API will provide funding to cover Premium Economy airfares, plus 2 nights’ accommodation for each of the 2 international meetings.  These costs will be offset by sponsorship monies received by the API from IVSC from time to time.  The API will assist the coordination of these bookings.

Criteria to be considered upon receipt of the EOI from members (by way of cover letter addressing the criteria and CV) include:

  1. Extensive understanding of the suite of relevant IVSC standards, current professional issues, challenges and client demand
  2. Demonstrated and significant experience in professional valuation practice (Practice and/or understanding on a global scale will be considered highly)
  3. An Innovative and flexible approach to the important purpose of standards setting and its fundamental importance in ensuring trust in and independence of the profession.
  4. A willingness to represent the API at the highest global level, to receive input from its Board appointed Committees and brief back on AFWG activity. This extends to ensuring members’ best interests are represented as the Board continues to develop and deliver its strategy from time to time.

Please direct any questions to our CEO, Amelia Hodge at [email protected].

EOI close 5pm on the 24th October 2024.