International Valuation Standards Committee
The central task of the International Valuation Standards Council (IVSC) is the development and publication of internationally recognized valuation standards and the formulation of procedural instructions for the implementation of valuations of all kinds of assets for accounting purposes.
The second goal is to harmonize the evaluation standards of different countries and, if necessary, to publicize differences within the evaluation standards of individual organizations. There is currently no legal obligation to follow the recommendations of the IVSC.
The organization was founded in 1981. Over 50 countries are now represented in the IVSC. The IVSC was registered in the USA in 2004 as a "not-for-profit organization"; the operational administration is based in London .
The IVSC is a member of the United Nations . It works with international organizations such as the OECD , the World Bank , the International Monetary Fund , the WHO , the European Commission , the BIS , the IFAC and the IASB .
The IVSC has been issuing the International Valuation Standards (IVS) since 1985 . In 2007 the 8th edition was published. The standards contain principles for the valuation of real estate, technical facilities, companies, intangible assets and real estate in the raw materials industry. The latest IVS 2017 standard was announced in January 2017 and has been in effect since July 1, 2017.
German members of the IVSC are the Association of German Pfandbrief Banks , the Federal Association of Real Estate Investment Experts e. V. (BIIS) and the European Association of Certified Valuators and Analysts (EACVA).
The IVSC is planning a fundamental restructuring of its own activities. To this end, a comprehensive restructuring concept was published in January 2007 for public discussion. An ambitious schedule is planned for the restructuring process.