RICS Valuation – Global Standards
The new edition of Red Book Global (RICS Valuation – Global Standards) took effect on 31 January 2020, the same date as the new edition of the International Valuation Standards (IVS).
The accompanying Basis for conclusions explains the rationale behind the more significant changes made in the new edition of Red Book Global. Specifically, it addresses the main refinements made in consequence of the responses received to the public consultation. It has been produced purely to assist the reader and does not form part of the standards.
The main reason for issuing the update to Red Book Global is to take account of the changes to the IVS, which the Red Book Global adopts and applies. However, the opportunity has been taken to make some other changes and refinements to Red Book Global in the light of experience and developments since the previous edition was issued in June 2017.