Is the Valuation Profession Missing Its “IFAC Moment”?

April 20, 2026

Earlier today in Cairo, during an (IVSC) meeting, I had the opportunity to attend a very thought-provoking presentation by on the proposed Global Valuation Alliance (GVA).

The discussion raises an important—and long overdue—question:

Are we, as a global valuation profession, institutionally complete?

A Strong Technical Foundation… But an Incomplete Profession
Over the past years, the valuation profession has made significant progress.

• We have globally recognized standards through (IVS)
• We have established professional bodies (VPOs) such as and RICS and Taqeem
• We have growing education platforms and initiatives such as WAVO

And yet, despite all of this…

The profession remains fragmented at a structural level

The Real Gap: Professional Alignment, Not Standards

The issue is not the absence of standards.

The issue is inconsistency in how the profession operates globally.

Across jurisdictions, we continue to see variation in:

• Education and training frameworks
• Entry requirements and qualifications
• Membership structures and credentials
• CPD and renewal enforcement
• Oversight, ethics, and disciplinary mechanisms

In simple terms:

IVS tells us how valuations should be done — but not consistently who is qualified to do them, under what oversight, and with what accountability.

What Accounting Got Right

If we look at the accounting profession, the difference becomes clear:

• IASB → sets standards (IFRS)
• IFAC → represents and coordinates the profession globally
• National bodies → regulate, certify, and enforce

This creates a complete ecosystem: standards + profession + enforcement + legal recognition.

Valuation today has:

• IVSC → standards
• VPOs → fragmented professional delivery

But it lacks a critical layer:

A global coordinating body for the profession itself.

Enter the Global Valuation Alliance (GVA)

The GVA is not attempting to replace existing institutions.

It is attempting to connect them.

What the GVA is:

• A federation of VPOs
• A global coordination platform
• A framework-setting body for professionalism

What the GVA is not:

• A standard setter (this remains with IVSC)
• A regulator of individual valuers
• A replacement for existing VPOs
• A “one-size-fits-all” global authority

Instead, the ambition is more precise:

To define what “professionalism in valuation” means at a global level—while respecting local jurisdictions.

From Fragmentation to Structured Alignment

One of the most compelling aspects of the proposal is its focus on alignment, not uniformity.

The GVA would aim to:

• Establish baseline expectations for valuers globally
• Provide benchmarking frameworks for VPOs
• Enable collaboration and knowledge sharing
• Create a collective global voice for the profession

Importantly:

It does not seek to make all VPOs identical — but to make them comparable.

Why This Matters (Especially to Regulators and Markets)

This is not just a professional discussion — it is a market issue.

Recent signals, including statements from (IOSCO), highlight concerns around:

• Consistency
• Governance
• Reliability of valuation inputs
  

A more coordinated profession could lead to:

• Greater comparability in financial reporting
• Improved regulatory confidence
• Reduced valuation disputes
• Stronger investor trust

A Maturity Gap We Can No Longer Ignore

Not all VPOs are at the same level of development.

Some—like RICS and TAQEEM—have:

• Mature frameworks
• Strong governance
• International recognition

Others are still evolving.

This is not a weakness—it’s a reality.

But it reinforces the need for:

A global reference point that helps elevate the profession collectively.

Governance: The Right Direction

Another encouraging aspect is the proposed governance model:

• Public interest mandate
• Independent oversight
• Clear separation of roles
• Transparency and accountability
• Inclusion across jurisdictions

This is critical.

Because if the profession is to gain regulatory trust, it must demonstrate:

Not only technical competence—but institutional credibility.

Looking Ahead: September and Beyond

The next key milestone is expected in September, where a more defined proposal will be presented for approval, followed by potential announcements at the IVSC AGM later in the year.

This will be an important moment for the profession.

A Personal Reflection

As a member of the IVSC’s Membership and Standards Recognition Board (MSRB), I see this as a very positive and necessary conversation.

The GVA is not about reinventing the profession.

It is about completing it.

Final Thought

Standards alone do not make a profession. Alignment, governance, and collective representation do.

The valuation profession has come a long way.

This may be the step that defines where it goes next.