The necessity and methodology of physical inspections have come under significant scrutiny, particularly highlighted during the COVID-19 pandemic, which limited the feasibility of in-person inspections. The Board’s latest paper addresses these challenges, discussing how technological advancements have enabled alternative methods for conducting inspections and maintaining valuation services. It aims to stimulate discussion, provide guidance, and gather feedback from the valuation community to establish best practices and standards for inspections in line with the International Valuation Standards (IVS).
Key contributors to this paper include experts from diverse regions, reflecting a comprehensive global perspective on the topic. By examining current practices and proposing a framework for inspection classifications, the IVSC aims to enhance transparency and consistency in valuation processes.
This Perspectives Paper is intended to support the valuation community by offering insights and practical guidance on navigating the complexities of asset inspections, thereby ensuring the reliability and accuracy of valuations.
