APPENDIX A

International Business Valuation Standards

INTRODUCTION

International business valuation standards are in a stage of evolution. Most efforts to develop international business valuation standards beyond North America are within the context of broader valuation standards, that is, standards that include not only business valuation but also valuation of other types of property, such as real estate and personal property.

INTERNATIONAL VALUATION STANDARDS COUNCIL

By far the oldest and most developed of the international valuation standards movements is the International Valuation Standards Council (IVSC), a nongovernmental organization (NGO) of the United Nations.

The IVSC has been in existence since 1981, under the name of The International Assets Valuation Standards Committee (TIAVSC). The Committee changed its name in 1994 to the International Valuation Standards Committee (IVSC). As demand increased for valuation standards in different sectors and markets, it had become clear to the IVSC that its constitution and structure no longer could provide it with the legitimacy or resources required to meet these new challenges. In January 2007, the IVSC published proposals for a radical restructuring to transform the IVSC from a committee of representatives of its member valuation organizations into an independent body. At this time, the organization's name was changed to the International Valuation Standards Council.

The organization currently has three main bodies:

1. An ...

Get Standards of Value: Theory and Applications, 2nd Edition now with O’Reilly online learning.

O’Reilly members experience live online training, plus books, videos, and digital content from 200+ publishers.