The Appraisal Institute has announced the formation of a new certification organization: The International Center for Valuation Certification (ICVC). The ICVC will confer cross-disciplinary valuation certifications to individuals who meet select criteria, while addressing current market needs and opportunities, advancing professionals and serving the public and clients. In addition, the ICVC will seek to be recognized as the foremost organization for cross-disciplinary valuation professionals in the U.S. and around the world who wish to enter, continue and advance in a valuation profession.
“The new entity will establish a future generation of cross-disciplinary valuation professionals and will enhance their marketability in a competitive job environment,” said Appraisal Institute President Ken P. Wilson, MAI, SRA. “Creating a certification organization will allow the new entity to demonstrate leadership in cross-disciplinary valuation principles, standards, methods and ethics.”
The ICVC is an Illinois not-for-profit organization. Its first Board of Directors consists of:
►Richard L. Borges II, MAI, SRA;
►Charles T. Cowart, MAI;
►Jeffrey S. Enright, MAI;
►James L. Murrett, MAI, SRA;
►Misty K. Ray, MAI;
►Faith A. Roland, SR/WA; and
►Sara W. Stephens, MAI
In October 2013, the Appraisal Institute announced three major strategic initiatives that have the potential to fundamentally reshape the global valuation profession:
►Proposed Standards of Valuation Practice that could serve as an alternative for valuation professionals where national or other standards are not required;
►Expanded delivery of Appraisal Institute education, becoming more proactive in identifying and pursuing appraisal educational opportunities; and
►A new certification organization to establish a future generation of cross-disciplinary valuation professionals and to enhance their marketability in a competitive job environment.
The Appraisal Institute already has issued for comment two exposure drafts of the proposed Standards of Valuation Practice. The proposed standards could serve as an alternative for valuation professionals when current national or other standards are not required. These standards could be used when Uniform Standards of Professional Appraisal Practice, International Valuation Standards or other standards are not required and the use of the proposed standards would be appropriate.
Further, they would serve as an alternative set of standards that could be used independently, and not as an additional set of required standards. The proposed standards would not supplant USPAP or other national standards. The Appraisal Institute also has issued two exposure drafts of proposed revisions of its Code of Professional Ethics.