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February/March 2018
Dates for your diary:

01 March 2018: RICS Valuation Conference 2018, London

09 March 2018: ICAEW Professor Aswath Damodaran on Valuation, London

14 March 2018: IVSC technical standards boards’ public meeting, London/virtual

19 May 2018: IACVS Annual Conference 2018, Beijing

04 June 2018: ASA 7th Annual Equipment Valuation Conference, Cleveland, OH

13-16 June 2018: Appraisal Institute of Canada Annual Conference, Quebec

25-26 June 2018: IVSC & WAVO Global Valuation Conference, Singapore

07 October 2018: ASA International Appraisers & Business Valuation Conference, CA

22-24 October 2018: IVSC AGM, Dubai
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Professional Insight: The Global Investor's Perspective on Valuation

Martin Brühl, Chief Investment Officer at Union Investment Real Estate, the Frankfurt based investor with €33bn global AUM, shares his thoughts on the role of valuation in investment.

“Valuation is a hypothetical transaction, and for that to be performed in a manner which is as close to the potential real transaction as possible you’ve got to be professional and you’ve got to have robust input data. Accurate and reliable valuations are essential to our business.”

We spoke to Martin following an RICS-IVSC institutional investor roundtable in New York to find out how Union Investment Real Estate procures and uses valuation data; what challenges investors face when using this information around the world; and how he sees the valuation profession evolving to meet new business models and changing user needs.

You can read the full interview with Martin here.

IVS on the agenda at the 5th World Capital Markets Symposium in Kuala Lumpur

IVSC Chairman, Sir David Tweedie, joined financial and political leaders from around the world earlier this month as a speaker at the 5th World Capital Markets Symposium in Kuala Lumpur.

Sir David joined a panel including former HSBC Chairman, Douglas Flint, and Chairman of the CIMB Group, Da’ Sri Nazir Razak, looking at the future of finance.

At a time when the financial system is becoming more and more interconnected, the panel considered the suitability of current regulation and the role for professional bodies in plugging the gap in public trust towards financial institutions.
Sir David also moderated a panel on diversity in the boardroom with speakers including Ann Marrs, Regional CEO of Standards Chartered Bank and Sophie Guerin, Head of Diversity and Inclusion Asia-Pacific at Dell Inc.
Commenting, Sir David said: "Diversity isn’t simply about gender, it is about ethnicity, our sociological identity, our background, our experience and our personalities, how hardwired are our brains. When the banks failed in 2007 at the time of the financial crisis it was not simply a matter of hubris, but also a lack of divergent thinking, groupthink in the boardroom."

Response to our Agenda Consultation - Mark Zyla, Chair of the IVSC Standards Review Board

  At the end of last year, we launched a consultation seeking feedback on our standards programme for 2018. This is part of an open consultative standard setting process which ensures our agenda is informed by valuation stakeholders throughout the world.

The consultation asked for feedback on topics which users and providers of valuation services felt should be included on the agenda for IVSC’s technical standards boards during 2018.

Responses came from around the world, with many global firms contributing extensive feedback, sharing their perspectives on areas which they would like to see the IVSC address.


Following the consultation, the IVSC Standards Review Board published our response online, earlier this month. Thanks to all those that contributed to the consultation.
  

Your invitation to join a public meeting of our standards boards in March

Ever wondered how IVSC develops the International Valuation Standards? Are you interested to find out more about future standards in business valuation and tangible asset valuation?

Next month, the IVSC’s standards boards are meeting in London and you are welcome to join as an observer, either in person or virtually, via audio conferencing.

On Wednesday 14 March, the Business Valuation Standards Board and the Tangible Assets Standards Board will hold a joint meeting to review the recent IVSC Agenda Consultation feedback, and to discuss areas for future standards development.

Then, on Thursday 15 March, The IVSC Standards Review Board will hold a public meeting as it reflects on proposed revisions to IVS 2017.

Observers are invited to join either or both public meetings and will need to register in advance, through the IVSC website.

Update from the Advisory Forum Working Group

Last week the IVSC Advisory Forum (AF) Working Group – including representatives from 9 international valuation professional organisations (VPOs) – met in Washington DC where we were kindly hosted by The Appraisal Foundation.

The goal of the AF is to act as a knowledge-sharing network connecting and empowering VPOs around the world. Collectively, the AF represents the valuation profession in more than 100 countries.

Our latest meeting covered a broad agenda which centred on how VPOs can work collaboratively, and through IVSC, to support and develop the global valuation profession. We considered a number of areas where the valuation profession will need to evolve and adapt in the coming years, such as the integration of new technologies, and we also finalised our AF Working Group Charter to strengthen its governance.


Last year we set in motion efforts to achieve VPO adoption of IVS by 2020. Last week’s meeting provided an opportunity to review progress and to agree next steps, which will be announced next month when I write to all AF member organisations.

As a network, the AF is committed to achieving adoption of IVS by working closely with all standards setters to ensure global consistency and quality in valuation.

Have you registered for the members' online portal?

The members’ portal of the IVSC website was launched towards the end of 2017 and provides a go-to source of information and publications for IVSC members. Registration is free and gives you access to current and archived IVSC publications as well as contact details for sector specialists.

Later this year we will be adding new materials including presentations and promotional tools which member organisations can use to promote their alignment with IVS.

New and proposed members
Congratulations to the following new members of the IVSC:

A full list of members can be found here.

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