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In this edition:
- Global Outlook 2022 - IVSC webinar sponsored by Kroll
- Review: Valuing A Business 6th edition
- ESG in the valuation process - Have your say
- Professional Insights: PIOB Chair, Linda de Beer
- Thomas Lee appointed new FI Board Chair
- Advancing valuation standards and regulation in Spain
- Major trends in valuation - Join the Advisory Forum virtual roundtable
- New and proposed members
- Dates for your diary
Missed an edition of eNews? Access past issues here.
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Global Outlook 2022 - IVSC webinar, sponsored by Kroll
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We are pleased to announce that following the success of last year's valuation series we will again host a programme of webinars throughout June, sponsored by Kroll.
This year's prgramme will include sessions on 'Valuation of Digital Assets', 'Intangibles in the Boardroom', 'Valuation, Inflation and the Cost of Capital' and 'ESG: A Paradigm Change for Valuation?' Further details will be published in April, along with links to register.
The Keynote session for this year will explore the macro-economic backdrop to the world we live and work in. We are delighted to have a panel of genuine, international-leading experts to pore over the latest data and trends and ask, "what is the global outlook for 2022 and beyond?"
Our keynote panel includes:
- Megan Greene - Financial Times columnist, Senior Fellow at the Mossavar-Rahmani Center for Business and Government, Harvard Kennedy School, and Kroll Global Chief Economist.
- Jesper Koll - One of Japan's most influential economic advisors, former Managing Director for Equity Research at JP Morgan in Tokyo (2009-2015), Chief Economist for Merill Lynch Japan (1999-2008), and Managing Director for the Tiger Fund (1998-1999).
- Alistair Darling - IVSC Chair and former UK Chancellor of the Exchequer.
- Ranjit Singh - IVSC Trustee and Assistant Director in the Monetary and Capital Markets Department at the IMF, former Vice-Chair of the International Organisation of Securities Commission (IOSCO), and Chairman of Securities Commission Malaysia.
Our keynote webinar will take place on Monday 6 June at 08:00 (EDT); 13:00 (GMT); 21:00 (JST)
Registration is free and IVSC sponsor and member organisations (and their affiliates) can register now.
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Review: Valuing A Business 6th edition
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By Ray Moran, iiBV
Valuing a Business is one of the first textbooks on business valuation and has been instrumental in elevating business valuation as a profession. The first edition, Valuing a Business: The Analysis and Appraisal of Closely Held Companies, was authored by Shannon P. Pratt in 1981, and has been updated over the years to the current sixth edition. The book is frequently cited, referenced, and quoted in valuations, litigation, and publications worldwide, and has served as a foundational reference for business valuation education worldwide.
The 6th edition discusses the evolution and state of our profession, the steadily developing global and local business valuation standards, and professional education organizations and resources.
Valuing a Business has been on my bookshelf since the 1980’s, and I’ve owned several editions through the years. While I’ve referred to it as a resource early in my career in the U.S., it became indispensable when I moved to Hong Kong in 2001. At the time, there wasn’t specific guidance readily available on many valuation issues and topics, and VAB was frequently referred to as an example of how specific valuation issues were addressed in more transparent markets, and applied as a guide for valuations, while following local regulatory and legal precedents.
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Survey: ESG in the Valuation Process - Have Your Say
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As part of a broader programme of activities linked to ESG and valuation, the IVSC has recently established an ESG Working Group comprising international experts. The Working Group has issued a survey of investors, businesses (as users of valuations) and valuers to understand where they are in their journey towards the quantification of ESG components within their valuations.
The ESG Survey will run through April 2022 and survey respondents can register to receive a report of the findings which will be issued by the Working Group later this year. We hope this survey will offer an excellent insight into the current status of ESG within the valuation process and encourage you to participate, and share details of the survey with your contacts.
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Professional Insights: PIOB Chair, Linda de Beer
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As part of our Professional Insights series, IVSC Trustee and Chair of the Public Interest Oversight Board, Linda de Beer, shares her thoughts on the need for transparency and public trust in valuation.
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Thomas Lee appointed new FI Board Chair
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KPMG Canada Partner and current IVSC board member, Thomas Lee, will take over as Chair of the IVSC’s Financial Instruments Board next month when Gavin Francis steps down after three years in the role.
Thomas has over 20 years of experience in public practice and leads the KPMG Valuation Services’ Financial Instruments Team. He has been a member and Vice Chair of the IVSC’s Financial Instruments Board since its inception in 2019.
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Advancing valuation standards and regulation in Spain
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The Asociación Española de Análisis de Valor (AEV) is the professional association that represents the Spanish Registered Valuation Companies that carry out around 85% of the valuations for regulated purposes in Spain.
The AEV has recently carried out an analysis in conjunction with IVSC on the alignment between the International Valuation Standards (“IVS”) and the Spanish national regulations contained within the ECO Order 805/2003 (“ECO Order”).
The ECO Order 805/2003 is the mandatory valuation standard in Spain for valuations carried out for 4 specific regulated purposes...
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Major trends in valuation - join the Advisory Forum update
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Inflation. Interest rates. Energy prices. Supply chains. Climate change. Cost of living. Post-pandemic recovery.
These are just a few of the many external factors influencing valuation throughout the world today.
Member organisations of the IVSC, through their nominated representatives, are invited to join the IVSC Advisory Forum for a virtual roundtable discussing these themes and others, and taking stock of what is happening in different markets around the world. Hear from valuation experts, VPOs and practitioners, and share your reflections on what is happening, and what more the valuation profession can do to support valuers at this time.
The IVSC Advisory Forum brings together representatives of all IVSC member and sponsor organisations and is led by the Advisory Forum Working Group, Chaired by John Martin. You can register for this virtual roundtable which takes place on Thursday 14 April at 08:00 (EST) / 13:00 (BST) / 14:00 (CEST).
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Valuation matters. Find out why and learn more about the work the IVSC and its members are doing to build confidence in valuation.
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The IVSC is pleased to welcome the following new member organisations, as proposed last month:
The following applications were approved by the Membership Committee and are proposed for membership:
If you have any comments regarding proposed members, please do so by emailing us within 2 weeks via contact@ivsc.org
The IVSC's member and sponsor network includes more than 180 organisations, including the leading Valuation Professional Organisations (VPOs); valuation service providers; government and regulatory bodies; academic institutions; and the users of valuation professional services:
If you are interested in finding out more about joining the IVSC and supporting the development of international standards and the global valuation profession then please get in touch via email.
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Find out more about the major valuation events and conferences taking place around the world and register by clicking the links.
Does your organisation have a valuation event coming up? To list it here please email details to contact@ivsc.org
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