Restructuring proposal of the International Valuation Standards Committee
Thursday, February 1, 2007
The International Valuation Standards Committee (IVSC) has proposed a major restructuring process developed by a governance group established by the IVSC’s Management Board. Key recommendations as part of the proposal include: 1) A new International Valuation Standards Board (IVSB) be created as an independent and autonomous decision making body with up to nine compensated (full-time or part-time) members; 2) The IVSC be renamed to the International Valuation Standards Council 3) An elected Board of Trustees would have responsibility for oversight of the work of the IVSC and IVSB; 4) A new International Valuation Professional Board (IVPB) be created to develop criteria for the education of and professional practices of valuation practitioners. Comments towards the IVSC’s restructuring proposal can be made until March 9, 2007. Details of the proposal can be found below.