72 fragmentation of expertise by asset or liability type, 73 legislation that was introduced for a particular purpose and has unintended consequences in 74 other areas, 75 valuation being regarded as technique rather than profession, 76 varying qualifications, and 77 lack of recognition by regulators and other professions.The diversity of culture, educational, 78 legal and social systems globally means that professional valuers may have developed their 79 professional competence through various pathways, including work experience, study or 80 qualification. 81 Where We Stand Today 82 The diversity of the valuation profession presents significant challenges in developing conformity in 83 the valuation profession worldwide. 84 Even where there are various organisations with a view to governing the profession by setting 85 and regulating standards of competence and integrity of valuation professionals, in certain 86 jurisdictions there is no current requirement for a valuation specialist to belong to a professional 87 organisation in order to provide valuation services. 88 An approximate taxonomy of diversities could be, for example, as follows: 89 by country: 90 developed countries with various VPOs, with disparate and varying qualifications, 91 developed countries without VPOs, 92 developing countries with VPOs, 93 developing countries without VPOs. 94 by expertise: 95 real estate, 96 plant, machinery and equipment, and personal property, 97 business, business interests and intangible assets, 98 financial instruments. 99 by valuation specialist in the same expertise by asset type: 100 valuers belonging to one or more professional organisations, valuers belonging to a working group or a special interest group promoted by 101 various accounting bodies, 102 valuers belonging to a professional organisation that does not have specific 103 professional standards for valuers, 104 valuers, with disparate background and experience, not belonging to any 105 professional organisation. 106
72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 fragmentation of expertise by asset or liability type, legislation that was introduced for a particular purpose and has unintended consequences in other areas, valuation being regarded as technique rather than profession, varying qualifications, and lack of recognition by regulators and other professions.The diversity of culture, educational, legal and social systems globally means that professional valuers may have developed their professional competence through various pathways, including work experience, study or qualification. Where We Stand Today The diversity of the valuation profession presents significant challenges in developing conformity in the valuation profession worldwide. Even where there are various organisations with a view to governing the profession by setting and regulating standards of competence and integrity of valuation professionals, in certain jurisdictions there is no current requirement for a valuation specialist to belong to a professional organisation in order to provide valuation services. An approximate taxonomy of diversities could be, for example, as follows: by country: developed countries with various VPOs, with disparate and varying qualifications, developed countries without VPOs, developing countries with VPOs, developing countries without VPOs. by expertise: real estate, plant, machinery and equipment, and personal property, business, business interests and intangible assets, financial instruments. by valuation specialist in the same expertise by asset type: valuers belonging to one or more professional organisations, valuers belonging to a working group or a special interest group promoted by various accounting bodies, valuers belonging to a professional organisation that does not have specific professional standards for valuers, valuers, with disparate background and experience, not belonging to any professional organisation.
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