In today’s global business environment, property and asset valuations must not only be accurate but also compliant with international standards. This is particularly important for companies, investors, and financial institutions that operate across borders. Chartered valuers, including USLS Valuers, play a critical role in ensuring that valuations meet professional, ethical, and regulatory benchmarks.
Here are 10 ways chartered valuers ensure compliance with international standards while delivering reliable valuations.
1. Adherence to International Valuation Standards (IVS)
Chartered valuers follow the International Valuation Standards (IVS), which provide globally recognized guidelines for reporting, methodology, and ethical practices. Compliance ensures that valuations are accepted internationally.
2. Professional Accreditation and Licensing
A chartered valuer is a professional recognized for training, experience, and ethical conduct. In Sri Lanka, USLS Valuers are certified and regulated, ensuring accountability and adherence to standard practices.
3. Clear Definition of Valuation Purpose
Every valuation begins with a clearly defined purpose, whether for financial reporting, insurance, mergers, or legal matters. This clarity ensures that the approach and assumptions are appropriate and standards-compliant.
4. Rigorous Documentation Review
Chartered valuers verify all legal and statutory documents, including land titles, building permits, and easements. Accurate documentation prevents disputes and supports compliance with both national and international regulations.
5. Comprehensive Market Research
Valuers conduct in-depth market analysis, comparing similar assets and market trends. This ensures the valuation is realistic and in line with global best practices, rather than speculative.
6. On-Site Inspection and Verification
Physical inspection of properties and assets is mandatory. Chartered valuers assess condition, functionality, and environmental factors to ensure reported values reflect actual conditions.
7. Transparent Valuation Methodology
A key requirement of international standards is clarity in methodology. Chartered valuers document whether they used market comparison, cost, or income approaches and explain why the method was chosen.
8. Ethical Independence
Compliance requires independence. Chartered valuers avoid conflicts of interest and provide unbiased, objective valuations. This ethical standard is emphasized by USLS and international professional bodies.
9. Quality Assurance and Review
Valuation reports undergo internal review to ensure accuracy, consistency, and adherence to IVS. This step reduces errors and strengthens credibility with stakeholders.
10. Continuous Professional Development
To stay updated with changing standards, chartered valuers engage in ongoing training, workshops, and professional courses. This ensures their valuations remain current with international best practices.
Why Choose Chartered Valuers in Sri Lanka?
Engaging certified USLS Valuers or other chartered valuers ensures that your asset valuations are:
- Globally compliant and credible
- Accepted by banks, investors, and regulatory authorities
- Accurate, transparent, and defensible
Final Thoughts
Compliance with international valuation standards is no longer optional—it’s a necessity for businesses, investors, and asset owners in Sri Lanka and abroad. Chartered valuers, particularly USLS Valuers, provide the expertise, methodology, and ethical framework to deliver accurate and internationally accepted valuations.
Working with a chartered valuer ensures confidence, transparency, and compliance at every step of the valuation process.