International Valuation Standards Committee
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| Formation | 1981 |
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| Headquarters | London, UK |
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The International Valuation Standards Council (IVSC) is an independent, not-for-profit, private sector standards organization incorporated in the United States and with its operational headquarters in London, UK. The IVSC develops international technical and ethical standards for valuations on which investors and others rely.
The IVSC is responsible for developing the International Valuation Standards and associated technical guidance. To ensure that the public interest is effectively protected it also engages with other bodies active in the regulation of the financial markets to ensure that valuation issues are properly understood and reflected. The IVSC works cooperatively with national professional valuation institutes, users and preparers of valuations, governments, regulators and academic bodies, all of whom can become members of the IVSC and play a role in advising the Boards on their agenda priorities.
In developing its standards and technical guidance the IVSC follows a process of issuing discussion papers and exposure drafts for public comment. The Standards Board and Professional Board meetings are open to observers.
The objectives of the IVSC are to strengthen the worldwide valuation profession by:
The IVSC is governed by a Board of Trustees responsible for the strategic direction and funding of the Council. The trustees are also responsible for the appointment of the two autonomous operational boards.
The current Board of Trustees comprises:
Notable former members:
The IVSC Standards Board is responsible for the development and maintenance of the International Valuation Standards, and for producing technical guidance to support the standards. It is currently chaired by Steven J Sherman, who leads Loop Capital’s Financial Consulting Services (LCFCS) practice and is based in Chicago.
The IVSC Professional Board is responsible for the development of the valuation professional globally through promoting consistent education and standards of ethical and professional conduct. It is currently chaired by Gregory Forsythe, a director in the Valuation practice of Deloitte Financial Advisory Services LLP in the United States.
The origins of IVSC lie in the International Assets Valuation Standards Committee (TIAVSC) that was formed in 1981 with the objective of developing consistent standards across national borders. The founder members were a number of professional institutes mainly concerned with real property valuation. The Committee changed its name in 1994 to the International Valuation Standards Committee, and from the late 1990s started to include member organizations concerned with the valuation of assets other than real property.
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