News in 2025
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Memorandum of Understanding between FIG Commission 9 and the
International Valuation Standards Council (IVSC)
26 February 2025, London, UK
Signed in the presence of the FIG President: Memorandum of
Understanding (MoU) with the International Valuation Standards Committee
(IVSC)
At the beginning of 2025, on Tuesday 26 February, in the presence of
representatives of the FIG, the IVSC and the RICS in London,
Westminster, the MoU between the two global organisations FIG and IVSC
was signed by the Chair of the FIG Commission 9, Peter Ache, and the
Chief Executive of the IVSC, Nicholas Talbot. The President of the FIG,
Dr Diane Dumashie, witnessed the important first step towards closer
cooperation between the two associations. ‘We are pulling together and
in the same direction,’ said President Dumashie after the
signing. ’We are glad, that we now have this MoU and we have to fill it
with life now.’
Dr. Diane Dumashie, Nicholas Talbot, Peter Ache
‘Facing of the major challenges of our time, this is an important
step towards the further development of real estate valuation towards
more quality and transparency,’ said Ache in the subsequent discussion
with Talbot, Alexander Aronsohn, Director of Technical Standards at
IVSC, and James Kavanagh, representing Peter Ache as Chair of Commission
9 and RICS Director of Land and Resources in London. The signing took
place at the RICS headquarters in London, Westminster. ‘We want to
combine our interests at different levels and with this MoU we are
creating a mechanism for high-level dialogue with the significant
professional expertise of our members,’ said Talbot. Aronsohn and
Kavanagh, who established the contact between IVSC and FIG, agreed that
‘we will start working together quickly’.
From left:
Alexander Aronsohn,
Grazyna Wiejak-Roy,
Diane Dumashie,
Nicholas Talbot,
Peter Ache,
James Kavanagh,
Richard Grover
The first considerations have already been made in the subsequent
intensive discussion. Improving the transparency of the real estate
market, access to data and the intensive examination of the use of
artificial intelligence played an important role in the subsequent
discussion. The question of improving the valuation of agricultural and
forestry land was also addressed.
The agreement now enables the joint use of resources to advance topics
such as climate change, ESG/SDGs, market transparency, natural resources
and new technologies. Another goal is to promote and apply the
International Valuation Standards (IVS) and to exchange information with
organisations such as the World Bank, the United Nations and the IMF.
Both institutions are committed to the development, acceptance and
enforcement of standards.
The MoU emphasises the importance of education, communication and
cooperation. It came into force on 25 February 2025, is valid for five
years and will be reviewed annually. As a declaration of intent, it is
not legally binding, but it does strengthen international cooperation in
the surveying and valuation sector.
Peter Ache, Chair FIG Commission 9
27 February 2025
