Setting our strategic priorities

Dear members,

What a baptism of fire I've had since I took up the New Zealand Institute of Valuers Presidency in July.

Within a few weeks, we were back in lockdown and reliving the uncertainty and confusion that we hoped we had put behind us in 2020.

Never-the-less, your NZIV Council responded as quickly as we were able, and having seen the writing on the wall, we had been in communication with the Ministry of Business Innovation and Employment (MBIE) a number of weeks before the lockdown came.  

That gave us a good head-start as we started navigating our way through the complexities of the Alert Level system.  As I write this Auckland is still at Alert Level 4, although there appear to be some promising signs of a change in the coming weeks.

• Promotion of the profession and Institute
• Growing the profession
• Future proofing and resilience
• Review of the NZIV Code of Ethics and NZIV Rules
• Education to the NZIV membership 

1. Develop and implement NZIV marketing & communication plans based on valuation and matters pertaining exclusively to valuers under the NZIV identity only and in line with the NZIV promotion strategy. 
2. Host and maintain in line with the NZIV Strategy a high-quality website for NZIV members that has specific NZIV only content in full consultation with and approval by NZIV Council.
3. Circulate and promote an NZIV Presidents Newsletter.

1. Develop, build, and support a diversity and inclusion policy and statement and associated activities in line with the NZIV Strategy.
2. Maintain and support ‘Property Jobs’ platform.

1. Develop and implement a Standards Board Terms of Reference.
2. Develop a member benefit offering the Organisational Counselling Programme (OCP) to NZIV members.
3. Support Branches to effectively carry out their functions and duties of NZIV.
4. Engage and develop branch relationships and support events
5. Carry out an online annual NZIV member survey in full consultation with NZIV Council.
6. Maintain an NZIV Council Portal on the NZIV website.
7. Advocate for valuers in any future review of the Act as determined by the NZIV advocacy and lobbying strategy. The NZIV advocacy and lobbying strategy will be determined by an NZIV subcommittee.

1. Review of the NZIV Code of ethics and NZIV Rules
2.  Advocate for valuers in any future review of the Act as determined by the NZIV advocacy and lobbying strategy. 

1. Maintain and support education resources and guidance including a CPD programme specific for upskilling NZIV members knowledge of valuation matters in accordance with the Continuing Professional Development Policy and Education Subcommittee Terms of Reference.
2. Host a minimum of eight Valuer-specific Webinars in accordance with the Continuing Professional Development Policy paper and Education Subcommittee Terms of Reference.
3. Host a minimum of three regional Valuers Summit face to face events in accordance with the Continuing Professional Development Policy paper and Education Subcommittee Terms of Reference.
4. Host the National Property Conference. Conference to include Ethics, standards and a minimum of three other Valuer specific workshops in full consultation with the NZIV Education Subcommittee.  

I'd like to thank your NZIV Councillors for injecting their wisdom and experience into the strategy process.  In recent years we have adopted a focused professional approach to the Governance work we are mandated to do and we expect this blueprint will serve our members well in the year ahead.
 

1. A full PDF copy of the latest IVS (effective 31 January 2022)
2. A ‘red-line’ version of the latest IVS showing the changes made since IVS (effective 31 January 2020) 

• Effective date: The latest IVS becomes effective from 31 January 2022. However, the IVSC encourages early adoption from the date of publication. Valuers will need to make clear which edition of the IVS they are using when preparing a valuation report.
• New chapter: The updated IVS includes a new chapter, 'IVS 230 Inventory' as part of the intangible asset standards. You can view the earlier consultation here.
• Technical revisions: Updates also include the technical revisions consulted on throughout 2020 and 2021. The archived consultation documents can be found here.
• Introduction: The introduction has been revised to incorporate new 'core principles of valuation standard setting' and the 'core principles of valuation', as set out in the recent IVS Additional Technical Revisions 2021 Exposure Draft. The core principles have been agreed in conjunction with the Advisory Forum Working Group and not only demonstrate the harmonisation already in existence but also clarify vital expectations for all standard setters. This change also reflects the IVSC's ongoing efforts to align valuation standards.
• Glossary: The IVS glossary has been updated to include new terms and to provide additional clarifications. This change also reflects the IVSC's ongoing efforts to align valuation terminology and definitions.
• IVS Framework: The sections on ‘compliance with standards’, ‘assets and liabilities’, ‘valuer’ and 'competence' have been revised to provide additional clarifications. 
• IVS 104 Bases of Value: A new section on 'allocation of value' has been included within this chapter.
• IVS 105 Valuation Approaches and Methods: The introduction has been revised to provide additional clarification that one or more valuation approaches may be used to arrive at the value reported within a basis of value.
• IVS 200 Businesses and Business Interests: The introduction has been revised to provide further clarification on what constitutes a business and a business interest.
• IVS 400 Real Property Interests: The introduction has been revised to provide additional clarification that this chapter includes the valuation of agriculture and land and to incorporate the valuation of unregistered and communal land.