Valuation

Question 1

What does VPS 1 relate to?

Answer 1

Terms of engagement

Question 2

What does VPS 2 relate to?

Answer 2

Inspections, investigations and records

Question 3

Whats does VPS 3 relate to?

Answer 3

Valuation reporting and methods

Question 4

What does VPS 4 relate to?

Answer 4

Bases of value, assumptions and special assumptions

Question 5

What does VPS 5 relate to?

Answer 5

Valuation approaches and methods

Question 6

What are the headings you would expect on a TOE?

Answer 6

1) Identification and status of valuer
2) Identification of the client
3) Identification of any other intended uses
4) Identification of asset or liabilty being valued
5) Valuation currency
6) Puposes of the valuation
7) Basis of value adopted
8) Valuation date
9) Nature and extent of the valuers work
10) Nature and source of information relied upon
11) All assumptions to be made
12) Format of the report
13) Restrictions on use, distribution and publication of report
14) Confirmation that the valuation will be undertaken in accordance with the IVS
15) Basis on which the fee will be calculated
16) Reference to complaints handling procedure
17) A statement that compliance with these standards may be subject to monitoring
18) Statement setting out any limitations on liability