Following the two Exposure Drafts published in July 2010 and May 2011 and analysis of the comment letters received, the IVSC Professional Board approved the Code of Ethical Prinicples for Professional Valuers at its recent meeting in Hong Kong. This is now available to download from the IVSC website.

The IVSC Standards Board and Professional Board have collaborated in producing the International Glossary of Valuation Terms (IGVT). This is now freely available as an online resource on the IVSC website. The objective of the IGVT is to reduce diversity and misunderstanding by promoting recognised definitions for words and terms that have a particular meaning when used in a valuation context.

The IVSC Professional Board released a Discussion Paper last year which examined the possible definition of a professional valuer.  Following consideration of the responses to that paper and further discussions with various constituents, the board considers it important to establish common professional criteria as an important step in promoting the recognition and development of the valuation profession globally.

That, the actions of PBRES have compromise the integrity of the valuation profession, when PBRES allowed almost any realty organized groups (i.e., local real estate boards, realty associations, realty corporations, and the like, all of which, are not stated in the provisions of RA9646 Sec. 20(c) , to wit ......”(c) Assessors and appraisers who on the date of the effectivity of R A No 9646 or as of 30 July 2009, holds permanent appointments and have at least ten (10) years actual experience in real property appraisal or assessment and have completed at least one hundred twenty (120) hours of  accredited training on real property appraisal conducted by a national or international appraisal organizations or institutions/agencies, duly certified by the Department of Finance (DOF) or any other pertinent national government agencies or Government Owned and Controlled Corporations (GOCC) as the case may be, recognized by the Board and relevant CPE credit units to the satisfaction of the Board “