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BDO sponsors the International Valuation Standards Council

BDO is pleased to announce its sponsorship of the International Valuation Standards Council (IVSC). BDO’s sponsorship highlights the growing global support, particularly in the accountancy arena, for the IVSC’s mission to promote confidence and public trust in the valuation process; thereafter restoring confidence in the financial markets.

As a sponsor, BDO will provide financial support to the organisation enabling the IVSC’s vital work, but also actively contribute to the development and revision of the IVSC’s International Valuation Standards. In addition BDO will play a role in the IVSC’s work to build a high quality professional framework around the world.

Wayne Kolins, Global Head of Audit and Accounting at BDO, said: “BDO is pleased to support the IVSC. Under its stated objectives, and the leadership of Sir David Tweedie, the IVSC is well positioned to take the lead in the development of a much needed global valuation framework which can be used to enhance the quality and consistency of valuations and, in turn, the quality of financial reporting and the confidence of capital markets. BDO looks forward to assisting the IVSC in its work, and supporting the adoption and use of high quality valuation standards.”

Sir David Tweedie, Chairman of the IVSC Board of Trustees, added: “The IVSC are thrilled to have BDO on board as a sponsor. The IVSC is expanding at a rapid pace and financial sponsorship is vital to enable us to meet the growing demands of our work.

“BDO share our vision for a set of globally recognised valuation standards and we are very grateful for their financial vote of confidence and to have gained their input and experience.”

As an example of their work, last week (6 March), the IVSC announced a joint statement of protocols for co-operation on IFRS and IVS. The aim of the agreement is to ensure that the IVSC and the IFRS Foundation are able to cooperate effectively in this important area with each organisation continuing to assume sole responsibility for their Standards. You can read the full release in this PDF:

 
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The combined fee income of all the BDO Member Firms, including the members of their exclusive alliances, was $6.02 billion in 2012. The global network provides advisory services in 138 countries, with almost 55,000 people working out of 1,204 offices worldwide.

About the IVSC

The International Valuation Standards Council (IVSC) is an independent, not-for-profit, private sector organisation. As the established international standard setter for valuation, the IVSC develops and maintains standards for the reporting and disclosure of valuations, especially those that will be relied upon by investors and other third party stakeholders in financial statements or other published documents.

For more information please visit: www.ivsc.org

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