The International Valuation Standards Council (IVSC) has just released a new report about how to inspect assets during the valuation process. This paper, created by the IVSC Tangible Assets Board, looks at different ways to inspect assets, including both traditional physical checks and newer technology-based virtual assessments.
The report highlights how important inspections are and how the COVID-19 pandemic made it difficult to do in-person inspections. It discusses how technology has provided new ways to conduct these inspections and keep valuation services running smoothly.
The paper brings together experts from around the world to share their views on current practices and suggest ways to improve them. It aims to encourage discussion, offer guidance, and gather feedback from the valuation community to set better standards and practices.
This new paper is meant to help those involved in valuations by providing clear advice on how to handle asset inspections, ensuring that valuations remain accurate and reliable.