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International Valuation Standards (IVS)
AREA Press Release No. 87/2024: February 05, 2024

Dr.Sopon Pornchokchai, Ph.D. Dip.FIABCI, MRICS
President, Agency for Real Estate Affairs (AREA)

      The International Valuation Standards (IVS) are globally recognised, principles-based standards that form the foundation of valuation for all assets and liabilities. Developed by the International Valuation Standards Council (IVSC) and utilised by professionals in over 100 countries, IVS play a crucial role in enhancing the quality, comparability, and transparency of valuations.

 

Regularly updated by the IVSC’s standards boards, the latest edition of IVS, published on 31 January 2024 (and effective from 31 January 2025), is now available for download through IVS Online. In what is a significant update, the latest version includes new chapters on Data & Inputs, Documentation, and Financial Instruments. The General Standards section has also been reordered to more accurately reflect the modern valuation process, as well as the many participants involved in the preparation, review and use of valuations.

 

These significant enhancements follow an extensive period of public consultation in 2023, including public board meetings, webinars and presentations, alongside a formal consultation that ran from April – July.

 

To support the implementation of the new standards, the IVSC’s Standards Review Board has also issued a ‘Red-Line’ version, tracking the changes from the earlier (January 2022) version. Both versions are now available to download. A ‘Basis of Conclusions’ document, presenting a detailed rationale for the changes, will be published by the IVSC in March 2024.

 

Ref: https://www.ivsc.org/new-edition-of-the-international-valuation-standards-ivs-published/