Activities Services
The principal IVSC
objective is to formulate and publish, in the public interest, valuation
standards and procedural guidance for the valuation of assets for use
in financial statements, and to promote their worldwide acceptance and
observance.
The second objective
is to harmonize valuation standards among the world’s states, and to make disclosures
of differences in standards statements and/or applications of Standards as
they occur.
It is a particular
goal of IVSC that international valuation standards be recognized in
statements of international accounting and other reporting standards, and
that Valuers recognize what is needed from them under the standards of other
professional disciplines. |
Organization Profile
The International
Valuation Standards Committee (IVSC) is an Non-Government-Organization
member of the UN and works with other parties, including valuation societies
throughout the world to harmonize and promote agreement and understanding of
valuation standards.
Membership in IVSC is
through national valuation societies and institutions representing
their respective States. These professional bodies must recognize objectives
that concern asset valuation, and must have a sufficient number of their
members capable of conducting such valuations.
Members support the Standards and guidance published by the Committee and
use their best endeavors to secure recognition of the Standards where
appropriate in their respective Member States. Members also disclose to the
Committee any significant difference between domestic and international
Standards so they may be reported to the international community. Valuers
must, of course, act legally and comply with the laws and regulations of the
areas in which they practice.
Members work with controlling and regulatory authorities, both statutory and
voluntary, and societies of other professional bodies to ensure that
valuations comply with IVSC's Standards and guidance. Members also play an
educative and consultative role in the area of asset valuation standards
within their States.
Liaison with the International Accounting Standards Committee, International
Federation of Accountants, International Auditing Practices Committee, and
International Organization of Security Commissions is especially important
to IVSC activities. In this regard, other objectives of IVSC are to provide
advice and counsel relating to asset valuation to the accounting
profession, coordinate valuation standards and work programs of the related
professional disciplines in the public interest, and cooperate with these
and other international bodies in the determination and promulgation of new
Standards. These objectives are accomplished through direct liaison and
through participation in other international organizations such as the
United Nations. IVSC was granted Roster status with the United Nations
Economic and Social Council in May 1985.
The international Standards and related discussions are the best consensus
to date of 40 participating nations. Like valuations of individual assets
they are subject to the Principle of Change which holds that change is
inevitable and continuous even when gradual and not easily discernible. As
Standards they are intended to offer fundamental asset valuation definitions
and guidance in a dynamic world. Where changes are believed necessary and
warranted they should be brought to the attention of the International
Valuation Standards Committee for
international deliberation and decision.
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Books on Valuation
Young, O'Byrne, EVA and VBM
Copeland, Valuation: Measuring and Managing the
Value of Companies
Stern, The EVA Challenge: Implementing Value Added
Change...
Grant,
Foundations of EVA
Ferris, Valuation: Avoiding the Winner's Curse
Madden, CFROI Valuation
Lev, Intangibles: Management, Measurement, and
Reporting
Smith, Valuation of Intellectual Property and
Intangible Assets |
