IVS Valuation Standards Latest Updates and IVS Perspectives Paper: The Art of Valuing Personal Property

  • IVS Valuation Standards Latest Updates and IVS Perspectives Paper: The Art of Valuing Personal Property

  • 05/10/2021

  • 13:00

  • 14:00

  • 1.0

  • Online CPD, .

  • Join us for this 1 hour CPD on IVS Updates and The Art of Valuing Personal Property.

    IVS Valuation Standards Latest Updates

    The latest version of the Standards brings greater depth and clarity to the IVS, as recommended by member organisation, including the major valuation and accounting firms and Valuation Professional Organisations.

    Here are a few things you need to know about the latest version of IVS:

    • Effective date: The latest IVS becomes effective from 31st January 2022. However, the IVSC encourages early adoption from the date of publication. Valuers will need to make clear which edition of the IVS they are using when preparing a valuation report.
    • New chapter: The updated IVS includes a new chapter, ‘IVS 230 Inventory’ as part of the intangible asset standards.
    • Technical revisions: Updates also include the technical revisions consulted on throughout 2020 and 2021.
    • Introduction: the introduction has been revised to incorporate the core principles of valuation standard setting and the core principles of valuation. This change also reflects the IVSC’s ongoing efforts to align valuation standards.
    • Glossary: The IVS glossary has been updated to include new terms and to provide additional clarifications. This change also reflects the IVSC’s ongoing efforts to align valuation terminology and definitions.
    • IVS Framework: the sections on ‘compliance with standards’, ‘assets and liabilities’, ‘valuer’ and competence have been slightly revised to provide additional clarifications.
    • IVS 104: a new section on “allocation of value” has been included within this chapter.
    • IVS 105: the introduction has been revised to provide additional clarification that one or valuation approach may be used to arrive at the value reported within a basis of value.
    • IVS 200: the introduction has been revised to provide further clarification on what constitutes a business and a business interest.
    • IVS 400: the introduction has been revised to provide additional clarification that this chapter includes the valuation of agriculture and land and to incorporate the valuation of unregistered and communal land.

    IVS Perspectives Paper: The Art of Valuing Personal Property

    This perspective paper has been drafted by the IVSC Tangible Assets Board to focus on issues in relation to the valuation of art and antiques (defined here as fine and decorative arts, antiques, paintings) and to encourage personal property valuers to comply with IVS when undertaking art and antique valuations. The presentation provides an overview of the following;

    • The Art Market
    • Purposes of Art and Antiques Valuation
    • Basis of Value: Fair Market Value (FMV) and Market Value (MV) and difference between FMV and MV
    • Insurance Estimation of Art and Antiques
    • Benchmark Value and Appraisal Value
    • Valuation Approaches

    Speaker details:

    Alexander Aronsohn FRICS

    Alexander Aronsohn FRICS is a Chartered Surveyor with long and wide-ranging experience encompassing residential asset management, commercial and residential development, rating, national and international valuation and investment. Alexander is the IVSC Director of Technical Standards for Tangible Assets and assists the IVSC Standards Review Board and its Asset Boards on drafting IVS, perspectives papers, presentations, training and articles.

    In addition, Alexander has a leading role in various International Standards Coalitions and is the Executive Secretary of the International Property Measurement Standards Coalition (IPMSC) Standard Setting Committee (SSC), the International Ethical Standards Coalition (IESC) Standard Setting Committee (SSC), and International Land Measurement Standards (ILMS) Standard Setting Committee (SSC). Prior to joining the IVSC Alexander was the RICS Director of Technical Standards and was also the Executive Secretary of the International Fire Safety Standards Coalition (IFSSC) Standard Setting Committee (SSC) and a member of the International Construction Measurement Standards Coalition (ICMSC) Standard Setting Committee (SSC).

    1.0 CPD Hour

    Book Now

  • SCSI Events

  • Michelle Smith

  • 016445500

  • events@scsi.ie
Back To Top