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27 SEP 2021

Global Red Book Update

The update to the RICS Valuation – Professional Standards Global Edition (Red Book Global) reflects the growing importance of combining professional, technical and performance standards, to deliver high quality valuation advice that meets the requirements of clients, governments, regulatory bodies and the public.

The update follows a review by the International Valuation Standards Council (IVSC) of their International Valuation Standards (IVSs) – to be effective from 31st January 2022. RICS proposes to take this opportunity to reflect the IVSC changes and to make some other refinements to the Red Book Global, including:

  • Articulating in more detail the need for clear, unambiguous and documented terms of engagement when members apply and exceptions to VPS 1-5 under PS1 section 5, Exceptions.
  • More detailed commentary on matters relating to sustainability/resilience and environmental. Social and governance (ESG).
  • Improving and/or clarifying some of the existing Red Book Global text in light of feedback, experience and evolving needs. 

Have your say in our consultation, which will be open from Monday 27th September until Monday 8th November.

Join the Consultation