The Red Book Toolkit for Surveyors - The Latest Edition - Live with Anthony Banfield

Introduction

It is a mandatory requirement by the RICS that any chartered surveyor providing a written valuation report of real estate for clients must be fully compliant with the requirements of the latest edition the RICS Valuation - Professional Standards (The 'Red Book') and any relevant national standards in order to satisfy International Valuation Standards.

This live broadcast session covers all main aspects of the latest edition of the Red Book (currently as revised in 2020 to incorporate IVS 2020); the course will cover all relevant matters relating to this and published up to the date of the course.

It will also discuss the reasons for additional, separate national standards.

Please note that since the Red Book is a procedural manual, valuation methods will not be covered in detail in this particular course

What You Will Learn

This live and interactive session will cover the following:

• Why do we have the Red Book?
• The relationship between the International Valuation Standards Council (IVSC), as set out in the International Valuation Standards, and the RICS Red Book
• What is a ‘Red Book valuation’?
• What are the changes to the latest edition of the Red Book from the previous edition?
• In what circumstances might the Red Book sections VPS 1 - 4 not apply?
• What is the status of 'oral' valuations?
• What is the status of VPGAs?
• What is meant by 'Valuation approach' as defined by IVSC and RICS?
• What is Fair Value? How might it relate to ‘marriage Value’?
• What is the difference between a valuation report for secured lending or for accounts?
• It will consider in detail such matters as:
• The purpose and general layout of the International Standards and the Red Book
• Compliance
• Ethics, competency, objectivity and disclosures
• Terms of engagement/scope of work
• Inspections and material considerations
• Valuation bases
• Assumptions and special assumptions
• Valuation reports and dealing with uncertainty
• Valuations for secured lending
• Valuations for financial statements

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.