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ADOPTING/ADAPTING OF EXISTING VALUATION STANDARDS IN VALUATION PRACTICE IN INDIA

Adherence to global valuation standards is critical to maintaining accuracy and consistency in valuation practices under different statutes and jurisdictions. Ensuring compliance with global valuation standards among different valuation practitioners for valuation under various statutes is crucial. A detailed report should include:

  • Comprehensive analysis and comparative study of the existing globally recognised valuation standards.
  • Assessment of the Suitability or otherwise of the various provisions in the Indian Context.
  • Preparation of detailed report on “departure” provisions wherever warranted under different statutes.
  1. Applicability under various Indian Statutes.
  2. Departures required/contemplated for valuations under different statutes.
  3. Modifications suggestions and/or Preparation of notes on appropriate guidelines as required under the IVS in consultation with IVSC and other Standards formulating bodies.
  1. Evaluation of the penetration of IVS among Indian Valuers.
  2. Evaluation of the extent of compliance of IVS by the Valuers.
  3. Identification of the deficiencies/roadblocks in achieving full IVS compliance.
  4. Designing programs for sensitising valuers to achieve full IVS compliance.
  5. Preparation of a list of short/medium/long term guidelines required for the Valuation profession on IVS/Other statutory Rules for all the different statutory Valuations.
  6. Periodic review on IVS penetration/extent of compliance.