RICS decides to admit business appraisers as members

Inconsistent business valuations could harm global growth and the ability to raise finance, causing mergers and acquisitions to fall through,” says a news release from the Royal Institution of Chartered Surveyors (RICS). “Determining the value of a business is an increasingly difficult endeavor in times of market instability, with valuations dependent upon regularly fluctuating elements,” they say. “This is further compounded by global differences in valuation models and assumptions, which lead to inconsistency in business valuation.”

To “raise global awareness of BV standards,” RICS is launching a new route to membership, Valuation of Business and Intangible Assets, at its BV conference this week. RICS also plans to introduce a new edition of its Red Book (international valuation standards) and “guidance notes” in business valuation and the valuation of intangible assets this year.