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In this edition:
- NEW Perspectives Paper: Rethinking Brand Value
- Trustee appointments
- IVSC appoints new Asia Director
- Thanking our departing board members
- NEW European Business Valuation Magazine
- IVSC AGM 2022, Fort Lauderdale
- IVAS-IVSC Business Valuation Conference 2022 - final registration
- Drew Dorweiler appointed new Chair of the MSRB
- New and proposed members
- Dates for your diary
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NEW Perspectives Paper: Rethinking Brand Value
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Part three of our Perspectives Paper series on Intangibles looks at the topic of brand value.
The limitation of the current reporting frameworks to convey value creation and preservation activities is largely because the prevailing value creation strategies that existed when the standards were enacted decades ago, have evolved. As many current business models have evolved over decades, namely, to rely more heavily on intangible assets at the expense of tangible, the standards and the economics have become misaligned. This article series looks to contribute to realigning accounting and reporting standards with the value creation and preservation strategies utilised in modern business models.
In Parts 1 and 2 of our series, we examined the Case for Realigning Reporting Standards with Modern Value Creation and took a deep dive into human capital value creation and measurement. In this paper, Part 3 of our series, we take a deeper dive into brands and reputation value creation.
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IVSC is pleased to announce three new appointments to its Board of Trustees.
New Trustees were confirmed by the IVSC’s Nominations Committee during the 2022 AGM in Fort Lauderdale and will take up their roles from October 2022, on an initial three-year term.
Japheth Katto (Uganda), is a corporate governance and financial services regulation expert and was CEO of Uganda’s Capital Markets Authority (CMA) for 16 years until end of 2013. As its first CEO, he led CMA’s and the capital markets industry’s growth not only in Uganda but also in the Africa and Middle East region.
Prior to joining CMA, he held several senior positions in financial services regulation with the Investment Management Regulatory Organisation and latterly the Financial Services Authority, UK from 1990 to 1997.
Marcelo Barbosa (Brazil) was President of the Brazilian Securities and Exchange Commission (CVM) from 2017-2022.
He has a Bachelor of Law from the Faculty of Law of the State University of Rio de Janeiro (UERJ) and master’s degree in Law (LL.M) from Columbia University in New York, USA.
Narayan K. Seshadri (India), a Qualified Chartered Accountant, started his career with Arthur Anderson. He subsequently joined KPMG and rose to become Managing Partner of the Business Advisory Practice of the firm in India.
He is a non-executive Chairman of several listed Indian companies including PI Industries and AstraZeneca Pharma India.
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IVSC appoints new Asia Director
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The IVSC is delighted to announce the appointment of Nicolas Konialidis as its new Asia Director, based in Singapore.
Nicholas brings three decades of capital markets, corporate finance and valuation experience and will lead the IVSC’s growth across the region, with a focus on business valuation and intangibles. In his new role, Nicolas will also undertake market outreach and engagement with IVSC member and sponsor organisations, as well governments and regulatory entities, as IVS becomes increasingly established throughout the continent.
Earlier this year this year the IVSC launched its new office in Singapore with support from Ministry of Finance, Economic Development Board, and from private sector sponsors including DBS Bank, OCBC Bank, Sea Group, United Overseas Bank, Deloitte, EY, KPMG and PwC. The new office will give IVSC a much-needed base from which to coordinate its activity in the Asia region.
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Thanking our departing board members
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A number of board members are departing the IVSC this month as their terms come to an end. Kathy Casey, Anton Colella and Alan Johnson all depart the Board of Trustees having served two full terms which began in October 2016. During their time on the Board of Trustees they have guided and helped shape a new IVSC structure and supported the creation of new technical boards to enhance the International Valuation Standards. All three have been integral to the IVSC’s efforts to raise standards and professionalism in valuation and have done so on a voluntary basis whilst managing very busy day jobs.
Eric Teo, Chair (Institute of Valuers and Appraisers of Singapore), Aart Hordjik (Real Estate Council Netherlands) and Phil Western (Australian Property Institute) all depart the Membership and Standards Recognition Board after serving two full terms beginning in September 2016. Eric has led the MSRB, as Chair, since its inception in 2016 and has steered its evolution to become a key body for market outreach and engagement with valuation stakeholders throughout the world. Supporting Eric, Aart and Phil are both founding members of the Board and have dedicated huge amounts of time and effort to supporting its activities, most notably in the area of university engagement, building relationships between the IVSC and many leading academic institutions around the world.
The IVSC would like to place on record our sincere thanks to all departing board members.
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NEW European Business Valuation Magazine
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The European Association of Certified Valuators and Analysts (EACVA) and the IVSC are pleased to present our first issue of the new European Valuation Business Valuation Magazine (EBVM).
The EBVM is intended to be a European platform to discuss practice issues in business valuation. Up to now, discussions have mainly taken place on a national basis within the individual professional groups of valuation professionals. The EBVM aims to increase the transparency of valuation practice in European countries and to enable professional exchange on an international level.
Issue one includes articles on: Valuation Ambiguities under the European Directive on Preventive Restructuring Frameworks; Business Models, Use Cases and Analytical Approaches for Valuation of the Asset “Data”; and Unlocking the Value of ESG.
The European Business Valuation Magazine is a free publication and will be issued quarterly. If you would like to submit an article for the Magazine then you can email the editors to find out more.
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IVSC AGM 2022, Fort Lauderdale
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More than 100 delegates joined us over four days earlier this month for the IVSC AGM in Fort Lauderdale, Florida. This was our first in-person AGM since Singapore 2019 and was made possible through the support of our AGM sponsors, the American Society of Appraisers, The Appraisal Foundation, HypZert and Taqeem.
During the four days all of the IVSC's technical boards met to progress their respective work programmes. The Board of Trustees also met, and the Advisory Forum of member organisation representatives came together to focus on some of the major trends shaping the valuation profession, including ESG, crypto assets and the next generation professionals, The IVSC Membership and Standards Recognition Board met to further their programme of stakeholder outreach, appointing Drew Dorweiler as the new Chair.
It was fantastic to see so many friends and supporters from around the world at the AGM.
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IVAS-IVSC Business Valuation Conference 2022 - final registration
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The IVAS-IVSC Business Valuation Conference is now in its sixth year and has quickly become established as a key date in the calendar for anyone involved in business valuation. This year's conference will be run as a hybrid event and will bring together more than 750 attendees from across the Asia and beyond region to discuss emerging trends in business valuation.
This year's conference is themed, ‘Navigating New Frontiers to Create Sustainable Value’. Join thought leaders, policy makers, business leaders, legal professionals and Business Valuation professionals on this regional platform for insights on creating value against the backdrop of the pandemic and recent geo-political developments.
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Drew Dorweiler appointed new Chair of the MSRB
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Drew was appointed to the IVSC Membership and Standards Recognition Board in September 2021 and was made Chair of the Board at the IVSC 2022 AGM in Fort Lauderdale.
Drew is well-respected and recognised as one of North America’s leading valuation experts in the area of professional sports franchises and property. He has more than 37 years’ experience in the valuation profession and is a Managing Director at IJW & Co, based in Montreal, Canada.
Drew was elected to the Board of Trustees of The Appraisal Foundation for the 2013-2015 and 2016-2018 terms and to the Board of Directors of The CBV Institute from 2006-2009 (he was named a Fellow in 2018). He was named a Fellow of Royal Institution of Chartered Surveyors in 2013.
Drew takes over in the role of Chair from Eric Teo, who steps down after two terms on the MSRB.
In his speech to the AGM, Drew emphasised the Board’s eagerness to focus on engagement with universities and other academic institutions as a means of equipping the next generation of professionals with knowledge on International Valuation Standards.
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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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