Professional Standards IACVA requires each of the Charter Members to adopt professional standards that will provide guidance to the Associate Members. In addition to following the laws and regulations adopted by each country, Associate Members are expected to follow basic and generic standards in all professional activities. By agreement with IACVA, each Charter Member adopts the IACVA Proposed Standards, or creates similar standards to govern the professional activities of its Associate Members. In addition, IACVA encourages the adoption of the professional standards issued by the International Valuation Standards Committee (IVSC) for the valuation of intangible assets and intellectual property. The standards of the IVSC, in conjunction with the International Accounting Standards Board (IASB) and Financial Accounting Standards Board (FASB-US) are required for financial reporting in most countries of the world.
The following are IACVA Proposed Standards
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