RICS Valuation - Professional Standards 2014
The 2014 edition of the RICS Valuation – Professional Standards (the Red Book) is the culmination of a comprehensive review of the content, framework and format of the 2012 and earlier editions. It also includes material relating to business valuation and intangible assets.
The 2014 edition adopts and is fully compliant with the International Valuation Standards (IVS) 2013, which are reproduced as an annex. 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.
The Red Book 2014 incorporates a number of significant changes and updates, including its layout and format, to enhance its clarity and ease of use, and to ensure a robust framework for consistency and best practice in the execution and delivery of valuations. Material that previously appeared in different parts of the 2012 edition has been brought together to improve clarity and avoid repetition.
The valuation standards set out procedural rules and guidance for valuers in the conduct of most types of valuation instructions. They set a framework for best practice in the execution and delivery of valuations for different purposes, but do not instruct valuers on how to value in individual cases. For best practice advice on how to value in individual cases see isurv Valuation.
Consultation for RICS Valuation - Global Standards 2017 is open until 3 April.
Red Book archive
- Red Book, 6th edition effective 1 January 2008 - English (including amendments)
- Red Book, 7th edition effective 2 May 2011
- Red Book, 7th edition Global and India, effective 2 May 2011
- Red Book, 7th edition Global, effective 2 May 2011
- Red Book 2012, effective 30 March 2012
RICS standards and guidance
- RICS property measurement
- UK commercial real estate agency
- New rules of measurement
- QS and construction standards
- Residential property standards
- Valuation standards
- List of RICS standards and guidance
- RICS standards and guidance archive
- Red Book archive
- Red Book index
Global valuation standards 2014
- RICS Valuation - Professional Standards January 2014
- RICS professional standards (PS)
- RICS global valuation practice statements (VPS)
- IVSC International Valuation Standards (IVS) 2013
- RICS global valuation practice guidance - applications (VPGAs)
- Overview of changes made to the 2012 global valuation standards, appendices and guidance notes
- UK valuation standards
- RICS national association valuation standards