Australia & New Zealand
Valuation and Property Standards


3.0 IVSC Valuation Standards 2013

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Overview of changes to the IVSs confirmed by the IVSC Standards Board in June 2013

IVS Framework:

The  IVS Framework includes generally accepted valuation concepts, principles and definitions upon which the International Valuation Standards are based. This framework should be considered and applied when following the individual standards and valuation applications.

IVS General Standards:

The three General Standards have general application for all asset types and valuation purposes, subject only to variations or additional requirements specified in the Asset Standards or the Valuation Applications.  The General Standards are IVS 101 Scope of Work, IVS 102 Implementation and IVS 103 Reporting.

  • IVS 101 Scope of Work
  • IVS 102 Implementation
  • IVS 103 Reporting

IVS Asset Standards:

The Asset Standards consist of a standard and a commentary.  The standard sets out requirements that either modify or augment the General Standards and include illustrations of how the principles in the General Standards are generally applied to the particular asset class.  The commentary provides additional background information on the characteristics of each asset type that influence value and identifies the common valuation approaches and methods used.

  • IVS 200 Businesses and Business Interests
  • IVS 210 Intangible Assets
  • IVS 220 Plant and Equipment
  • IVS 230 Real Property Interests
  • IVS 233 Investment Property under Construction
  • IVS 250 Financial Instruments

IVS Valuation Applications:

Valuation Applications are produced for common purposes for which valuations are required. Each application contains a standard and guidance.  The standard includes any additions to or modifications of the requirements in the General Standards and illustrations of how the principles in the General Standards and Asset Standards apply when undertaking valuations for that purpose.  The guidance section provides information on:

  • the valuation requirements of internationally applicable regulations or standards issued by other bodies that may be applicable, eg International Financial Reporting Standards,
  • other commonly accepted requirements for valuations for that purpose,
  • appropriate valuation procedures to meet these requirements.
  • IVS 300 Valuations for Financial Reporting
  • IVS 310 Valuations of Real Property for Secured Lending

IVSC Technical Information Papers:

Technical Information Papers (TIPs) support the application of the requirements in other standards.  A TIP will do one or more of the following:

  • provide information on the characteristics of different types of asset that are relevant to value,
  • provide information on appropriate valuation methods and their application,
  • provide additional detail on matters identified in another standard,
  • provide information to support the judgement required in reaching a valuation conclusion in different situations.

A TIP may provide guidance on approaches that may be suitable, but will not prescribe or mandate the use of a particular approach in any specific situation.  The intent is to provide information to assist an experienced valuer in deciding which is the most appropriate course of action to take.

A TIP is not intended to provide training or instruction for readers unfamiliar with the subject and will be primarily focused on practical applications.  A TIP is not a textbook or an academic discussion on its subject, and neither will it endorse or reference such texts.

  • Technical Information Paper (TIP 1) Discounted Cash Flows
  • Technical Information Paper (TIP 2) The Cost Approach for Tangible Assets
  • Technical Information Paper (TIP 3) The Valuation of Intangible Assets
  • Technical Information Paper (TIP 4) Valuation Uncertainty