RICS valuations are those conducted as per the International Valuation Standards and drawn up by the IVSC (International Valuation Standards Council). The IVS aims to draw up valuation reports used in the advice and/or coverage of major investments. They are also used for inclusion in financial statements following the IFRS/NIC-NIIF (International Accounting Standards/Financial Information), regulatory compliance and the performance of both national and international transactions.
RICS valuations are those conducted in line with the international standards of the Royal Institution of Chartered Surveyors. They are typically required in international or corporate operations due to their high degree of recognition. RICS valuations are necessary for financing operations or projects, determination of acquisition and sale values, valuation for accounting, legal and tax purposes, portfolio valuation and Due Diligence or restructuring processes.