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RICS Valuation - Professional Standards (the 'Red Book') contains mandatory rules, best practice guidance and related commentary for all members undertaking asset valuations.
The Red Book is issued by RICS as part of our commitment to promote and support high standards in valuation delivery worldwide. The publication details mandatory practices for RICS members undertaking valuation services. It also offers a useful reference resource for valuation users and other stakeholders.
The latest edition of the Red Book came into effect on 30 March 2012. RICS members can freely download a PDF version here, along with related documents. Hard copies of the Red Book can be bought from the RICS Shop.
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21 Mar 2012
View the RICS Valuation - Professional Standards (the 'Red Book') 2012 in full.
13 Jul 2012
This guidance note provides assistance to RICS members on the application of the Red Book 2012 to valuations that have to be provided in compliance with US jurisdiction.
Preface, introduction and glossary of the RICS Valuation - Professional Standards (the 'Red Book') 2012 are available to download.
Valuation standards on compliance and ethical requirements, agreement of terms of engagement, basis of value, applications, investigations and valuation reports from the Red Book (Global edition) 2012.
Red Book (Global edition) 2012 guidance notes on valuation certainty; valuation of individual trade related properties and portfolios and groups of properties; personal property; plant and equipment; and the depreciated replacement cost method of valuation for financial reporting.
Appendices of the Red Book 2012 on confidentiality, threats to independence and objectivity, and conflicts of interest; settling the terms of engagement; assumptions and special assumptions; valuations for commercial secured lending; minimum contents of valuation reports; and examples of published references to valuation reports.
The completely revised International Valuation Standards include the IVS framework, general standards, asset standards and the IVS valuation applications.
© RICS 2013
© RICS 2013