What is a valuation?
International Valuation Standards (IVS)
“The act or process of forming a conclusion on a value as of a valuation date that is prepared in compliance with IVS.” (IVS 10.33)
The Accounting Professional & Ethical Standards Board (APESB)
“The act or process of determining an estimate of value of a business, business ownership interest, security, intangible asset, or other asset or liability by applying Valuation Approaches, Valuation Methods and Valuation Procedures.” (APES 225).
In the broadest sense, a valuation is the manual act or process undertaken in order to arrive at a conclusion. For many financial valuers a valuation is the analytical process of determining the current or projected value of an asset, liability, investment or enterprise.
The Australia Association of Financial Valuers requires its members to adhere to standards, guidelines and other protocols set out by their respective primary professional membership or regulatory body. However, where there is a conflict in the standards of an originating profession (i.e. accountancy) and the International Valuation Standards (IVS), the IVS takes precedence for any work undertaken in the field of valuation. However, if a competing standard is a local variation of an international framework, or it enhances another standard, the local or enhanced standard prevails. A conflict in the standards of an originating profession (i.e. accountancy) and the International Valuation Standards (IVS), the IVS takes precedence for any work undertaken in the field of valuation. However, if a competing standard is a local variation of an international framework, or it enhances another standard, the local or enhanced standard prevails.
International Valuation Standards : The International Valuation Standards Council (IVSC), is a non-profit organisation dedicated to establishing and promoting global valuation standards to serve the public interest.
Australian Accounting Standards : The AASB is an Australian Government agency under the Australian Securities and Investments Commission Act 2001. Under that Act, the statutory functions of the AASB are to develop a conceptual framework for the purpose of evaluating proposed standards; to make accounting standards under section 334 of the Corporations Act 2001; to formulate accounting standards for other purposes; to participate in and contribute to the development of a single set of accounting standards for worldwide use; and to advance and promote the main objects of Part 12 of the ASIC Act, which include reducing the cost of capital, enabling Australian entities to compete effectively overseas and maintaining investor confidence in the Australian economy
Actuaries Institute Professional Standards and Guidance : The Actuaries Institute represents, educates, and connects a growing community of Australian actuaries within Australia and globally. The Institute is renowned for providing expert public comment, its strong relationship with government and regulators, and its leading education programInternational Valuation Standards (IVS) “The act or process of forming a conclusion on a value as of a valuation date that is prepared in compliance with IVS.” (IVS 10.33)
The Australia Association of Financial Valuers requires its members to adhere to standards, guidelines and other protocols set out by their respective primary professional membership or regulatory body. However, where there is a conflict in the standards of an originating profession (i.e. accountancy) and the International Valuation Standards (IVS), the IVS takes precedence for any work undertaken in the field of valuation. However, if a competing standard is a local variation of an international framework, or it enhances another standard, the local or enhanced standard prevails.
International Valuation Standards : The International Valuation Standards Council (IVSC), is a non-profit organisation dedicated to establishing and promoting global valuation standards to serve the public interest.
Australian Accounting Standards : The AASB is an Australian Government agency under the Australian Securities and Investments Commission Act 2001. Under that Act, the statutory functions of the AASB are to develop a conceptual framework for the purpose of evaluating proposed standards; to make accounting standards under section 334 of the Corporations Act 2001; to formulate accounting standards for other purposes; to participate in and contribute to the development of a single set of accounting standards for worldwide use; and to advance and promote the main objects of Part 12 of the ASIC Act, which include reducing the cost of capital, enabling Australian entities to compete effectively overseas and maintaining investor confidence in the Australian economy.
Standards Australia : As representatives of the International Organization for Standardization (ISO) and International Electrotechnical Commission (IEC), Standards Australia are also specialists in the development and adoption of internationally-aligned standards in Australia.
Actuaries Institute Professional Standards and Guidance : The Actuaries Institute represents, educates, and connects a growing community of Australian actuaries within Australia and globally. The Institute is renowned for providing expert public comment, its strong relationship with government and regulators, and its leading education program.
Professional standards for financial advisers : The Australian Securities and Investments Commission (ASIC) is responsible for implementing and overseeing the professional standards for financial advisers. Standards are legislative requirements set by the Federal Minister of the day.
RICS Red Book Global Valuation Standards : The Royal Institution of Chartered Surveyors (RICS) is a leading professional body working in the public interest to advance knowledge, uphold standards, and inspire current and future professionals. Our members help to create and protect built and natural environments that are sustainable, resilient and inclusive for all. The Redbook Global Standards are updated regularly to reflect market changes and developments. It is recognised globally as one of the most rigorous sets of standards for valuation and, as such, serves as a key reference for global users and stakeholders.
Australian Property Institute Guidance Papers The Australian Property Institute is a broad-based property membership organisation that sets and maintains standards of professional practice, education, ethics, and conduct for its members. The API provides ‘Guidance’ papers on Australian specialist valuation topics, processes and procedures.
APESB : The Accounting Professional & Ethical Standards Board (APESB) is an independent, national body that sets the code of ethics and professional standards with which accounting professionals who are members of CPA Australia, CA ANZ or IPA must comply. APESB Valuation Services
International Accounting Standards : International Financial Reporting Standards (IFRS), through the International Accounting Standards Board (IASB) and International Sustainability Standards Board (ISSB). develop high-quality, understandable, enforceable and globally accepted accounting and sustainability disclosure standards. are a set of accounting rules for the financial statements of public companies that are intended to make them consistent, transparent, and easily comparable around the world.
International Public Sector Accounting Standards : The IPSAS develops standards, guidance, and resources for use by public sector entities around the world for preparation of general purpose financial statements. The International Public Sector Accounting Standards.
International Organization for Standardization : The ISO is an independent, non-governmental international organization with a membership of 169 national standards bodies. Global standards for trusted goods and services :