Covid-19 and the Valuation Profession

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 professionals, 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 sections 101 - 105 'General Standards'. 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 and service providers across the IVSC’s member network have been quick to issue and update further guidance and support to valuers at this time - You can find links to this information below.

We recommend that, in addition to consulting the latest edition of the IVS, valuers check with their accrediting professional organisation to make sure they have the latest information to hand. The IVSC’s technical boards are also convening virtually to monitor 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 I offer my thoughts and best wishes to all our stakeholders, their staff, members, clients and families at this challenging time.

Nicholas Talbot, IVSC Chief Executive