Rics valuation - Global Standards (UK national Supplement) 2023 Flashcards
When was the UK National supplement first published?
2018
When was the latest version of the UK National supplement published and when did it come into effect
October 2023 published into effect on May 2024
What does the new edition in of the UKNS reflect?
The independent review of Peter Pereira Gray
What did the amendment state?
The UKNS augments the Red Book and is not a substitute for it
What is the purpose of the UKNS?
Provides specific requirements for members on valuations that are subject to UK jurisdiction and includes UK VPGAs
What are the contents of the UK National supplement?
Part 1 - UK Professional Standards - mandatory
Part 2 - UK Valuation Technical and performance Standards - mandatory
Part 3 - UK VPGAs
What is the key UK VPGA for social housing valuation?
UK VPGA 14 - Valuation of registered social housing for loan security purposes
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Who undertook the RICS independent review of real estate valuations 2021
Peter pereira Gray
What were some of the recommendations made in the RICS independent review on real estate investment valuations?
13 recommendations including
• The commissioning and receiving of valuation reports
• Rotation of valuers for regulated purpose valuations
. The valuation profession should incorporate the use of discounted cash flow as the principal model applied in preparing property investment valuations
• Valuation audit trails
• A new Valuation Assurance Committee (now set up)
What is the professional standard surroundings sustainability and valuation?
PS: sustainability and ESG in commercial property valuation and strategic advice 2021