Public Sector Valuer Rotation Working Group (Record no. 122159)

MARC details
000 -LEADER
fixed length control field 02932nam a22002297a 4500
008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION
fixed length control field 250513t2025 xxk|||||o|||| 00| 0 eng d
020 ## - INTERNATIONAL STANDARD BOOK NUMBER
ISBN 9781783215430
041 ## - LANGUAGE CODE
Language code of text/sound track or separate title eng
110 ## - MAIN ENTRY--CORPORATE NAME
Corporate author Royal Institution of Chartered Surveyors
245 ## - TITLE STATEMENT
Title Public Sector Valuer Rotation Working Group
Subtitle - December 2024 final report
Medium [Electronic resource]
260 ## - PUBLICATION INFORMATION
Place of publication London,
Publisher Royal Institution of Chartered Surveyors,
Date May 2025
300 ## - PHYSICAL DESCRIPTION
Physical description 31p.
520 ## - ABSTRACT
Abstract The Royal Institution of Chartered Surveyors (RICS) has released a report on UK public sector valuer rotation. After rigorous discussions, industry experts decided that public sector valuations of investment properties, whether undertaken internally or by an external valuation firm, are distinct from valuations of investment property counterparts in the private sector in terms of both actual risk and public perception.<br/><br/>The valuations for which rotation is mandatory are known as regulated purpose valuations (RPV). The purposes covered are fully detailed at UK VPS 3. RICS’ UK rotation policy is included at UK VPS 3.3.<br/><br/>The RICS Valuation Review in 2020 recommended that ‘RICS should develop a time specific, mandatory procurement and rotation process for valuers’. Following this, the RICS Valuation Review Implementation Committee (VRIC) decided in their 2023 report that this recommendation shouldn’t initially apply to public sector valuations, subject to RICS undertaking an additional work stream in this area.<br/><br/>The working group comprised senior public and private sector valuation professionals, public sector finance professionals, and other key stakeholders involved in the valuation process. It was chaired by Nick French, who is also chair of RICS’ Global Valuation Standards Expert Working Group.<br/><br/>It was agreed that the existing oversight mechanisms of other bodies, such as the government, together with the annual external audits of all valuations, for which third-party valuers are usually included in the audit teams, are robust and ensure that all investment valuations are reviewed.<br/><br/>This recommendation has been approved by the RICS Standards and Regulation Board, the recently established Valuation Assurance Committee and the Knowledge and Practice Committee.
520 ## - ABSTRACT
Abstract Accompanied by the RICS Standards and Regulation Board’s response to RICS’ Public Sector Valuer Rotation Working Group’s recommendations report
650 ## - KEYWORDS
Keywords VALUATION
650 ## - KEYWORDS
Keywords VALUER ROTATION
651 ## - SUBJECT ADDED ENTRY--GEOGRAPHIC NAME
Geographic name United Kingdom
710 ## - ADDED CORPORATE NAME
Added corporate author Royal Institution of Chartered Surveyors
856 ## - ONLINE RESOURCE
Uniform Resource Identifier <a href="https://www.rics.org/content/dam/ricsglobal/documents/standards/Public-Sector-Valuer-Rotation-Working-Group_December-2024_Final-Report.pdf">https://www.rics.org/content/dam/ricsglobal/documents/standards/Public-Sector-Valuer-Rotation-Working-Group_December-2024_Final-Report.pdf</a>
Public note Report available on RICS.org
856 ## - ONLINE RESOURCE
Uniform Resource Identifier <a href="https://www.rics.org/content/dam/ricsglobal/documents/standards/Public-Sector-Valuer-Rotation-Working-Group-Report_SRB-Response.pdf">https://www.rics.org/content/dam/ricsglobal/documents/standards/Public-Sector-Valuer-Rotation-Working-Group-Report_SRB-Response.pdf</a>
Public note SRB response
942 ## - ADDED ENTRY ELEMENTS (KOHA)
Suppress in OPAC Do not suppress in OPAC
Holdings
Lost status Damaged status Not for loan Current library Shelving location Date acquired Total Checkouts Date last seen Price effective from Koha item type
      Virtual Online 13/05/2025   13/05/2025 13/05/2025 Online material