20Mar 2020 IVSC statement regarding valuation and the current challenges posed by the COVID-19 pandemic. We are living through one of the most challenging and uncertain times in recent history. As the global Covid-19 pandemic advances, governments, scientists, healthcare providers, businesses and the public at large are having to respond in real time to new and often untested information and advice. The challenges ahead apply to every aspect of society. Economies are also facing enormous upheaval. Stock markets are being tested with huge daily volatility and businesses of all sizes have been affected in myriad ways. For valuers, the uncertainty which permeates all markets will inevitably lead to challenges, not just in terms of carrying out valuations and determining value, but also in the reporting of those values in a way that is both helpful and informative to users. The latest edition of IVS draws reference to this under section 103 ‘Reporting’. At the same time, we should not lose sight of the important role that professional valuers can, and will, play in restoring confidence to turbulent markets through the provision of well-evidenced and transparent valuations. Valuation Professional Organisations across the IVSC’s member network have been quick to issue further guidance and support to valuers at this time. The IVSC’s technical boards are also monitoring market developments in order, where required, to issue additional support and direction to valuers in the application of IVS within the current context. On behalf of the IVSC, the Chief Executive offers his thoughts and best wishes to all our stakeholders, their staff, members, clients and families at this challenging time. You can find the announcement here Tags: Useful Info, IVSC, valuations, challenges, covid-19
