The International Valuation Standards Council (IVSC) has launched revised proposals for a Code of Ethical Principles aimed at providing better regulation of the global valuation profession. These follow an initial set of proposals issued in mid-2010.
The Chairman of the IVSC Professional Board, Jean-Florent Rérolle, explained that the Board had studied the comments received on the earlier proposals and made a number of significant changes.
"While there is widespread support for an internationally recognized benchmark for the ethical conduct of valuers, we received feedback that our original proposals were too narrowly focused and that we should concentrate on identifying the fundamental principles that define ethical conduct rather than the detail."
The Board member responsible for the project, David Faulkner added: "Although there are some well-established professional bodies around the developed world that have robust conduct rules for their members, these often differ in detail.
"By identifying the principles that should be reflected in any code designed to regulate valuers, the IVSC can help both the convergence of existing rules and provide a sound basis for the development of new rules in emerging economies."
The proposals can be downloaded from the IVSC website (www.ivsc.org), and comments are invited before August 31.