Appraisal RICS EVS IVSC
At Euroval we follow the standards stablished for appraisal RICS EVS IVSC
Our appraisal RICS EVS IVSC are elaborated under a regulation system based on the fulfillment of certain standards, among them, we can emphasize:
Internal rules of conduct, RIC: It regulates professional behaviour.
Code of Ethics: Regulates conflicts of interest, professional ethical duties, etc.
Basic principles: It contains the practical principles.
Continuous training: Tool to keep knowledge constantly updated.
Euroval offers the possibility of doing so:
Valuations under the standards established by RICS (Royal Institution of Chartered Surveyors). The purposes of the appraisal RICS, cover a wide field, mainly with the common objective of knowing the market value of a good and to comply with certain regulatory precepts. Among them, those related to accounting statements, advice and consulting in general are outstanding.
appraisal under the standards set by the European EVS Valuation Standards (European Valuation Standards), in its latest version 2012 published by TEGOVA (The European Group of Valuers’ Associations).
Ratings under the standards established by SVI (International Valuation Standard). The International Valuation Standard Committee, IVSC, has been working since 1994 to elaborate homogeneous international valuation standards, in Spanish International Valuation Standardsn.
Frequently Asked Questions
What is valuation performed under the standards established by the International Valuation Standard Committee, IVSC?
The IVSC constitutes a regulatory system that is based on compliance with certain internationally recognized standards, including the code of conduct and the valuation standards themselves, which contain the basic valuation principles. All these rules are included in the White Book, which establishes the rules to follow to comply with these standards. Euroval’s team of appraisers meet these minimum guidelines using internationally recognized valuation methodologies.
What are the purposes of an assessment under the IVSC standards?
The purposes cover a wide range, with the common aim of knowing the market value of a good and complying with certain regulatory precepts. These include those related to financial statements, related accounts, loans and mortgages. In summary, the most important applications are the following:
- Valuation for financial statements.
- Valuation for loan purposes.
- Valuation of public sector assets for financial reporting.
However, it does not differ in any way from other valuation standards. That is to say, in principle it is not incompatible with the provisions of certain regulations.
As far as the financial statements are concerned, it seeks to ensure that international valuation standards are consistent with the valuation requirements of IFRSs, including IFRSs for the private sector published by the IASB and international accounting standards for the public sector published by the IFA.
Who might be interested in a valuation performed under IVSC standards?
In a situation like the current one, it is essential to have a valuation carried out under the highest professional standards and performed with strict rules of professional ethics. If we add to this the fact that many of the operators are involved in cross-border operations, it becomes vitally important to carry out valuation reports under internationally recognized standards, such as those established by the IVSC. Euroval is aware of this from the very beginning and is therefore perfectly prepared and qualified to cover these demands with full guarantees, offering our clients maximum security and professionalism.
It highlights supranational companies, investors, economic agents, financial entities, and in general any entity or person interested in demanding information of this type for a decision.
How does Euroval carry out a valuation under IVSC standards?
The regulations proposed by the IVSC cover standards, applications and guidance notes, the latter providing guidance on specific valuation issues, such as the valuation of intangibles or the valuation of movable property.
The regulation system, based on some basic principles established by the IVSC, is complemented with those internal rules that Euroval has established and that any professional involved in the company is obliged to comply with.
In order to carry out a valuation under IVSC standards, it is initially based on strict compliance with the rules set out in the White Paper. Additionally, depending on the nature of the property and the purpose of the report, different and sometimes complementary methodologies are applied, but they are always internationally recognize.
Who should make an assessment under the IVSC standards?
At all times, the valuation reports are prepared by teams of experts in the field and in the sector, in order to apply homogeneously and justifiably the rules and requirements established and always adapted to the purpose of the report and the type of asset to be valued.
How much time would the report take?
Euroval’s experts adapt to the client’s needs and initially offer a time frame in accordance with the scope of the work itself.
How much does a report of an assessment performed under IVSC standards cost?
The fees for these services are very tight and more than compensate for the economic benefits they provide. Do not hesitate to contact the customer service, which depending on the nature and volume of the assets to be valued and the purpose of the request, will provide you with a budget according to your needs.
Euroval is always governed by the principles of rigour, independence and objectivity. Rigor is ensured by the strict valuation rules to which we are subject, which establish the methodology and valuation criteria most appropriate to the purpose of the report. Independence is safeguarded by the composition of the company’s shareholders, administrative body and experts, who are not linked to any person, company or entity that may generate a conflict of interest with the assets to be evaluated or expert witnessed. We are solely and exclusively dedicated to valuation, both in Spain and in other countries, acting in accordance with the regulations established in this respect and monitored by the system of supervision to which the company is subject, which guarantees its objectivity. For all the above reasons, we offer you the preparation of this type of report with a methodology in accordance with the nature of the asset and the purpose of the report, and, where appropriate, in accordance with the requirements of the regulations in force. Euroval is a company approved by the Bank of Spain and by the CNMV (Spanish National Securities Market Commission). Our reports appraisal have a total guarantee of objectivity.