RICS Valuation – Global Standards (Red Book Global Standards) was published on 30 November 2021, taking effect on 31 January 2022. See also the Basis for conclusions document that accompanies Red Book Global Standards. It adopts and is fully compliant with the International Valuation Standards (IVS), which are reproduced in Part 6.
RICS also publishes – separately from the global standards – national standards and guidance. These are designed to cover specific statutory or regulatory requirements in local jurisdictions, while being consistent with relevant international standards.
The UK national supplement 2018 took effect from 14 January 2019.
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.
Current related guidance is also available.
For the latest face-to-face learning, conferences, events and news (including IPMS) go to the Red Book and valuation hub.