October 20–29, 2014, was “Valuation Lollapalooza” at the Westin Harbour Castle in Toronto. First, the International Valuation Standards Council (IVSC) held several meetings, and then the American Society of Appraisers (ASA) and Canadian Institute of Chartered Business Valuators (CICBV) presented the 2014 Joint Business Valuation Conference. Not so coincidentally, a major topic of discussion during both was the globalization and convergence of valuation standards, practices, and credentials.
Following are some highlights of the IVSC meetings:
The ASA and eighteen other international valuation professional organizations (VPOs) signed a memorandum of understanding (MOU) with the IVSC. Currently, no single set of global standards for estimating the value of assets has been comprehensively adopted across the world, meaning it can be potentially more difficult to accurately compare asset values when making investment decisions across borders. Although many parts of the world have established and successful valuation principles and standards, other regions are less...
