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This new 9th edition of the RICS Valuation: Professional Standards January 2014 (Red Book) will be published early in November 2013 and will become effective on 6 January 2014 replacing all previous versions of the Professional Standards. It is fully compliant with the International Valuation Standards (IVS), which have also been updated and are effective from January 2014.
The Red Book is mandatory for RICS members valuing assets - commercial, residential and other property, as well as land, plant, machinery, and other business assets. It covers all of the mechanics of valuation, including assembly, interpretation, and reporting of information, and is applicable for both RICS regulated and non-regulated firms.
What is new for RICS Valuation: Professional Standards January 2014
RICS Valuation: Professional Standards is issued by the RICS Valuation Professional Group and contains mandatory rules and best practice guidance for all RICS registered valuers undertaking valuation services worldwide.