NEW EUROPEAN VALUATION STANDARD AND GUIDANCE NOTE ON AVMS

EVGN 11 The Valuer’s Use of Statistical Tools

EVS 6 Automated Valuation Models (AVMs)EVS 6 Automated Valuation Models (AVMs)

 

On Saturday 28 October in Marseille, the TEGoVA General Assembly, by near-unanimity, approved the European Valuation Standard EVS 6 “Automated Valuation Models (AVMs)” and European Valuation Guidance Note EVGN 11 “The Valuer’s Use of Statistical Tools” and rendered them immediately operational.

They are now an integral part of European Valuation Standards.

European Valuation Standard 6

AVMs cannot be used to produce a valuation report that complies with EVS independently of a valuation process founded, inter alia, on inspection of the property by the valuer and the application of valuation judgment by the valuer.

Where used, an AVM is never more than a tool contributing to the valuer’s estimation of value, for which he remains responsible.

EVGN provides guidance on:

• Preconditions for the use of AVMs
• Limitations on the use of AVMs once the preconditions have been met
• Portfolio valuation

There will be analysis and commentary in the January edition of European Valuer.

 

Danijela Ilic, FRICS, REV

Member of the TEGoVA Board

Member of the TEGoVA European Valuation Practice and Methodology Board (EVPMB)

Former IFAC Board Member joins IVSC as Trustee

IVSC is pleased to announce the appointment of Ana Maria Elorrieta to its Board of Trustees.

Ms Elorrieta has over 35 years’ experience in accountancy having been a Partner at PwC in Brazil and was head of Risk and Quality in South America for the firm from 2003 to 2010 and in Brazil from 1997 to 2012. She has also served on the Board of IFAC and the IAASB, acted in different capacities for the Brazil Federal Accounting Council and was Chair of the Brazilian Institute of Independent Accountants.

https://www.ivsc.org/news/article/former-ifac-board-member-joins-ivsc-as-trustee

The International Institute of Business Valuers and International Association of Consultants, Valuators and Analysts Announce a Strategic Alliance

Toronto, CANADA – The International Institute of Business Valuers (iiBV) and International Association of Consultants, Valuators and Analysts (IACVA) announce that IACVA has become a member of iiBV and the iiBV will become a member of IACVA. This is a first step towards the two organizations developing a comprehensive strategic alliance to develop business valuation courses and designations worldwide. iiBV has a program of highly regarded profession business valuation courses that are curated by leading business valuation professionals and offered around the world.

http://iibv.org/iibv-iacva-strategic-alliance/

NEW COURSE SERIES Now Available Through NAVS for October 2017

The iiBV is excited to announce an upcoming series of business valuation courses that will be hosted in Belgrade, Serbia by our esteemed members, The National Association of Valuers of Serbia (NAVS).

View the links below for the course delivery dates and details:
iiBV 101 & iiBV 102 – October 8 – 15, 2017
iiBV 103 & iiBV 105 – October 8 – 15, 2017

Information on these courses is available below:

iiBV 101 – Principles of Business Valuation
iiBV102 – Income Approach and the International Cost of Capital
iiBV 103 – Business Valuation Comprehensive Case Study
iiBV 105 – Valuation of Intangible Assets

 

http://iibv.org/select-iibv-courses-now-available-through-navs/

The Accuracy of Automated Valuation Models (AVMs)

A report for TEGoVA by Professor George Matysiak

At a time when the valuation profession is urging the European Commission to investigate a Dutch decree allowing AVMs to be used without any valuer involvement for first-time valuations of homes serving as mortgage collateral, the Matysiak report is especially relevant, because it serves to highlight a contrario just how uniquely dangerous such practice is.

http://www.tegova.org/en/p595cdda3851be