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IVS_Intro - Coggle Diagram
IVS_Intro
How IVS are made?
Consultation with stakeholders
Public exposure of the standards
Liaisoning with other statutory bodies
conducting outreach activities
Objective of IVS
identify & develop globally accepted principle/definitions
Identify & promote considerations for valuation assignments & its reporting
Identify specific matters of considerations
Identify commonly used methods of valuation
IVSC
Who
for advancing quality in valuation profession
Independent
not for profit
Why - Objective
Building Public Confidence and trust in valuation profession
How
Producing standard
Securing universal adoption & implementation
Promote practice approach
regulating conduct of professional valuers
regulating competency of professional valuers
What is IVS?
standards for undertaking valuation assignments
Using generally recognised concepts & principles
to promote transperancy
to bring consistency
Implementation of IVS
Mandatory requirements
for valuation to be complied with IVS
Aspects which are not directive provides fundamental principles or concepts for valuation
Core Principles
of Valuation setting
Valuation Standards
principle based
to address development & communication of credible opinion
Development & Revision of Standards
Through transparent process after adequate exposure
Jurisdiction
Legislative or regulatory requirements will prevails over IVS
Purpose
public trust in valuation practice
Core principle of valuation