The International Valuation Standards Council (IVSC) has formally opened a global public consultation on proposed updates to the International Valuation Standards (IVS), inviting input from across the valuation profession and its many stakeholders.

The consultation relates to proposed revisions to both the IVSC General Standards and IVS Asset Standards, with the next edition of IVS scheduled to take effect from January 2028. The exposure draft is accompanied by a detailed explanation outlining the proposed technical changes to the standards.

The proposed updates respond to significant shifts in valuation practice and market expectations. In particular, they seek to improve clarity and consistency in how valuations are undertaken and reported, while strengthening the management of valuation risk through more explicit quality control requirements. A notable feature of the proposals is the introduction of a new standalone chapter on Quality Controls, recognising their importance across every stage of the valuation process.

Changes set out in the revised draft also reflects developments in technology and artificial intelligence, with enhanced requirements for transparency where AI or other technology-based tools are used, particularly where decision pathways may be opaque. At the same time, the proposed revisions reinforce that professional judgement and professional scepticism remain central to IVS-compliant valuations.

The exposure drafts of the proposed changes and associated supporting materials associated with the change be downloaded via the links below.

Sustainability considerations feature prominently in the proposed changes. The IVSC has refined definitions and guidance to ensure that sustainability and Environmental, Social and Governance (ESG) factors are appropriately considered where they are relevant and measurable, while remaining applicable across different jurisdictions and regulatory environments.

Feedback from AVAA Certified Valuers (CVAu) and other valuation professionals, regulators, investors, academics and users of valuations will directly inform the work of the IVSC’s standards boards. Stakeholder input during this consultation will play a critical role in shaping the next edition of IVS and ensuring the standards remain robust, practical and globally relevant in an evolving valuation landscape.

As an IVSC member organisation, the Auctioneers and Valuers Association of Australia (AVAA) plays an active role in supporting the development and global adoption of robust, principles-based valuation standards. AVAA’s engagement with IVSC consultations and initiatives is informed directly by its members, with practitioner insight channelled through the AVAA Membership & Professional Standards Committee. This committee brings together experienced auctioneers and valuers who review proposed standards, consider their practical implications for Australian practice, and help shape AVAA’s formal input—ensuring member perspectives are reflected in international standard-setting discussions.

Interested In Finding Out More?

For further information on AVAA’s engagement with IVSC on this matter, please send an email to policy.advocacy@avaa.com.au or telephone 1300 928 165.  You can also stay up to date by following AVAA on LinkedIn, X/Twitter and Facebook.