In September 2018, the application of the Philippine Association of Realty Appraisers (PARA), for membership with the International Valuation Standards Council (IVSC), was approved by its Membership Committee as Associate Valuation Professional Organization (VPO) with further discussions to continue as to moving to full VPO in the future through a partnering approach.
Membership in the IVSC is open to valuation professional associations or institutions acknowledged, either by legal decree or general consensus, as being a national professional body with rights and responsibilities for the development of the valuation profession. In the case of general consensus, the organization must demonstrate evidence that it has the support of government and the business community and is a body in good standing in the jurisdiction. The organization must be established as a not for profit organization that sets minimum education and ethical standards for individual valuers and that it upholds the public interest over those of individual members.
PARA participated in its first ever IVSC AGM in Singapore on October 7 to 9, 2019. The delegation consisted of Marissa Benitez, Marie Yvonne Apad, Mary Gaw So and Samuel Quiniano. Hosted by the Singapore Accountancy Commission (SAC), under the Ministry for Finance for Singapore, the AGM is the only gathering of its kind to assemble senior valuation leaders and influencers from around the world, in all fields and from all sides of the profession, including service providers, institutional investors, banks, regulators, governments and end users. More than 170 delegates from 40+ countries and six continents attended the AGM, making it the most internationally representative AGM ever hosted by the IVSC.
