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Who Sets the International Valuation Standards?

September 19, 2012

Is there much variation in appraisal rules from one state to another? Not really. A piece of machinery or equipment appraised in a west coast state would be treated (and likely valued) the same as a piece of equipment appraised in an east coast state.

So that answers the question as it relates to the U.S. But what about other countries?

That’s where the International Valuation Standards Council (IVSC) comes in. The IVSC is a non-profit organization, headquartered in London and incorporated in the United States, that develops high-quality international appraisal standards and supports their adoption around the world. Its focus is on setting standards for appraisals that will be relied upon by investors and other third-party stakeholders. The organization’s members include major valuation standard-makers and professional associations from more than 40 different countries.

Some other goals of the IVSC include:

  • Facilitating collaboration and cooperation among its member organizations
  • Collaborating and cooperating with other international organizations
  • Serving as the international voice for the valuation profession

The IVSC publishes the International Valuation Standards (IVS) and associated technical guidance.

The NEBB Institute endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery/equipment appraisal and brokerage.

By: NEBB Institute

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