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RICS valuation – Professional Standards
Posted on: 31 October 2013
By: mackene
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Filed under: News
This new edition of the RICS Valuation – Professional Standards, the Red Book as it has become widely known, is the culmination of a comprehensive review of the content, framework and format of the 2012 and earlier editions. It also includes new material relating to business valuation and intangible assets. This 2014 edition adopts and is fully compliant with the International Valuation Standards (IVS), which are reproduced as an annex in both hard copy and digital versions. RICS not only embraces these high level valuation principles itself but also supports the adoption and implementation of such universal standards globally. While the RICS Red Book continues to cover in considerable detail the valuation of assets in the form of real estate (land, buildings and interests therein), its coverage extends to all types of asset, including associated liabilities where appropriate.
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