Inspections of Tangible Assets as Part of the Valuation Process, Perspectives Paper

International Valuation Standards Council (IVSC) (2024) | Asset Management, Risk Mitigation, Valuation

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This IVSC's Perspectives Paper is an examination of the role of inspections in the valuation of tangible assets. The present document, authored by the IVSC Tangible Assets Board, explores both traditional physical inspections and emerging virtual methods, especially in light of the challenges posed by the COVD-19 pandemic. The paper highlights the significant impact of technological advancements on the manner in which inspection practices are conducted. Furthermore, it is imperative to emphasise the necessity for enhanced discourse within the valuation community to ensure that methodologies are congruent with International Valuation Standards (IVS).

The paper's proposal of a framework for inspection classifications, with its reliance on global expertise, is intended to enhance transparency, consistency and reliability in valuation processes. The establishment of best practices that reflect both practical realities and evolving te…