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International Valuation Standards and Who Sets Them

September 25, 2014

There isn’t much variation in appraisal rules from one state to another. Each individual market varies a little depending on demand for a piece of machinery or equipment, but each asset in a west coast state would be treated (and likely valued) just like a piece of equipment in an east coast state.

But what happens in other countries?

That’s why the International Valuation Standards Council (IVSC) exists. Headquartered in London and incorporated in the US, the IVSC is a non-profit organization that creates and supports international appraisal standards that will be relied upon by investors and other third-party stakeholders. The organization is made up of major valuation standard-makers and professional associations from more than 40 different countries.

But those aren’t the only goals of the IVSC. They also:

  • Facilitate collaboration and cooperation among member organizations
  • Collaborate and cooperate with other international organizations
  • Serve 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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