Back in August 2019 the International Valuation Standards Council issued an updated version of the International Valuation Standards (IVS 2020) which come into effect on 31st January 2020.
IVS serve as the key guide for valuation professionals globally intended to ensure a consistent and transparent approach to valuations which are key in investment decisions and financial market stability.
What does IVS 2020 cover?
The 2020 version will replace the 2017 edition and is made up of 5 General Standards and 6 Asset Standards. The general standards contain guidance for all valuation assignments including terms of a valuation engagement, bases of value, valuation approaches and methods and reporting.
The General Standards stipulates requirements for the conduct of all valuations covering the terms, approach, method and reporting.
The Asset Standards sets the requirements for specific types of valuations including:
This latest version of the IVS brings greater depth and detail to the process as requested by members of the International Valuation Standards Council. IVS 2020 can be downloaded from the IVSC’s website.
We undertake valuations across all sectors and all property types ranging from small single buildings to large portfolios. Offering valuation services across Ireland and particularly in Kildare, Meath, Dublin, Carlow, Longford, Kilkenny, Westmeath and Laois; O’Neill & Co deliver specialist commercial property services to the Leinster region.
Our independent advice and recommendations can improve a property’s performance and subsequent return on investment.