CAS-IVSC International Valuation Conference 2024
The China Appraisal Society (CAS) and the International Valuation Standards Council (IVSC) recently co-organised an international valuation conference, hosted by the Shanghai National Accounting Institute (SNAI) from 11 – 12 April 2024.
Attendees included Mr. Yu Weiping, Vice Chairman of the Committee on Economic Affairs of the CPPCC National Committee, President of the CAS, and Mrs. Lim Hwee Hua, Acting Chair of the IVSC Board of Trustees, who both delivered significant speeches that underscored the importance of international cooperation in asset valuation.
Yu Weiping highlighted the conference’s role in presenting the latest research and exploring new business areas within the valuation industry, aiming to support global economic development through enhanced appraisal practices. He outlined the CAS’ dedication to updating valuation standards, particularly in new sectors such as the digital and green economies, with the goal of aligning with and contributing to the International Valuation Standards and the ongoing work of the IVSC.
Lim Hwee Hua commended the CAS for its important contributions to the global valuation profession and emphasised the crucial role of environmental sustainability in financial assessments.
IVSC Chief Executive, Nick Talbot, spoke on the importance of reliable, standardised valuations in supporting global financial activities and introduced the latest updates to the International Valuation Standards, which incorporate environmental, social, and governance (ESG) considerations.
The conference also featured discussions on the increasing significance of intangible assets in the global economy, with contributions from various international experts who highlighted the necessity for consistent valuation practices across different asset types. The dialogue included specialised topics such as the valuation of digital and intangible assets, reflecting the industry’s adaptation to contemporary economic challenges.
On the second day of the conference, the IVSC delegation were invited to a technical tour of the National Green Development Fund, Shanghai Lixin Appraisal Co. Ltd, Shanghai Data Exchange, and the New Development Bank. The hosts gave in-depth presentations of their current initiatives and engaged in a wide-ranging dialogue with participants.
This two-day event marked a significant step towards deepening international collaboration in asset valuation, aiming to elevate industry standards and foster mutual growth and understanding across borders.
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