Z. Christopher Mercer, ASA, CFA, ABAR, chief executive officer of Mercer Capital, spoke at the RICS Asia Valuation Conference 2013 on the topic of “The Value of Brands Is in or at the Margin” in Tokyo, Japan on November 6, 2013.
The theme of the conference was “Asset Valuation: The Lifeblood of Global Financial Markets.” The conference was simultaneously translated from English to Japanese and from Japanese to English.
The full-day conference began with a discussion of the Japanese economic outlook. Broad topics included:
- Impact of Valuation Standards in the Financial Markets
- True Worth of Your Company’s Assets
- Keynote: London Olympics Legacy
- Asset Performance Around the World
- Implication of Valuation on Lending and Auditing
- Comparison of Japan Valuation
- Standards with IVSC (International Valuation Standards)
Chris is also attending The International Valuation Standards Council (IVSC) which is holding its Annual General Meeting in Tokyo during the week of November 6th. Chris is a member of the The Professional Board of the IVSC which is responsible for promoting the valuation profession around the world. The Professional Board will be discussing a number of projects, including:
- Illustrative Examples. The International Valuation Standards contain valuation concepts and principles in their Investment Framework. We will discuss the approval of an exposure draft designed to assist valuation practitioners to better understand the IVS Framework concepts by illustrating their application in various scenarios.
- Audit Process Guidance for Professional Valuers. We will discuss the approval of a publication of the name “A Guide to the Audit Process for Professional Valuers.” This Guide has been prepared by the Professional Board to explain the role of auditors and their interaction with professional valuers.
- Role of Valuation in Supporting Regulatory Convergence. The Professional Board will consider a draft of a policy paper on the role of valuation to support regulatory convergence (and the convergence of appraisal standards I mentioned above).
- Professional Standards for Professional Valuers. We will review and discuss comments on a prior discussion draft on a proposal to develop professional standards for valuers.
The IVSC
The IVSC is a not for profit organization incorporated in the USA, with its operational headquarters in London. The organization is mainly funded through membership subscriptions and sponsorship by valuation professional bodies, valuation providers and valuation users;
The organization has three main bodies:
- a Board of Trustees responsible for the strategic direction and funding of the IVSC and for appointments to the Standards Board and Professional Board;
- a Standards Board with autonomy over its agenda and the creation and revision of valuation standards and supporting technical guidance;
- a Professional Board to promote the development of the profession around the world.
