A global valuation profession
On September 19, 2023, CBV Institute incorporated and adopted the International Valuation Standards (IVS) as part of its standards. IVS, which are developed and issued by the International Valuation Standards Council (IVSC), are standards for undertaking valuation assignments using generally recognized concepts and principles that promote transparency and consistency in valuation practice.
IVS do not replace, but rather are incorporated as an option, alongside CBV Institute’s existing Valuation Practice Standards for valuation engagements (Standards 100, 110, 120, and 130). CBV Institute’s decision to formally adopt IVS came after a significant and multi-year stakeholder consultation process, and follows decades of leadership by CBV Institute in the development of the international standards.
The current edition in effect is International Valuation Standards, effective 31 January 2025, issued by the IVSC. It replaced the January 2022 edition and introduced new chapters on Data & Inputs, Documentation, and Financial Instruments, along with a reorganized General Standards section. In line with IVSC guidance, valuators should make clear which edition of IVS they are applying.
While the use of IVS is not mandatory for CBVs, it signals CBV Institute’s commitment to a strong global valuation profession by making IVS acceptable for use in Canada. The adoption and use of IVS provides CBVs the flexibility to choose between the international standards and CBV Institute’s existing valuation standards, based on the unique needs of their clients. CBVs increasingly provide valuation services for clients outside the Canadian marketplace, and use of IVS is expected to elevate the global reach of the CBV profession.
Application and use of IVS, or any other set of valuation standards, must be done by a qualified valuator, with appropriate experience and training, as well as professional judgement. As such, IVS do not replace the need for professional business valuation education, training, and accreditation.
Click here to access the Practice Standards, including the current edition of IVS .
Click here to access a document which addresses a number of questions CBVs or Registered Students may have about this standard change.
The IVSC has launched a new self-paced online course, Understanding IVS: The Foundations of Global Valuation Practice. This course offers a structured introduction to the International Valuation Standards, with 6 to 8 hours of learning delivered across 16 modules and informed by expert insights from the IVSC’s standards boards.
Participants will gain an understanding of how IVS is structured, developed, and applied across asset and liability classes. Topics include the valuation framework, scope of work, bases of value, valuation approaches, data and inputs, valuation models, and the relevant asset-specific standards.
As an affiliate partner, CBV Institute is pleased to offer participants a discounted course fee of £85 when they register through us.
A reference guide, co-published by CBV Institute and IVSC, laying out differences and areas of alignment between CBV Institute Practice Standards and IVS. It provides a touchpoint for those who choose to follow, or are required to follow, both sets of standards. This guide may be useful to other standard setters and members of other valuation professional organizations.
This is a high-level IVS introduction for CBVs, Registered Students, and Canadian-based international groups or organizations.