Krzysztof Grzesik, Chairman of TEGoVA, said “Europe has reached a tipping point that can only be accelerated by the current crisis – the EU is now the dominant sculptor of our regulatory environment and valuers can no longer limit their horizons to the national policy and regulatory framework. These, the first ever truly European Business Valuation Standards, prepared by highly skilled professionals, finally provide business valuers with a common European approach anchored in the EU legal order.”

Danijela Ilić, Chair of the European Business Valuation Standards Board and Member of the Board of TEGoVA, said “EBVS will impose consistency in the most important issues in business valuation, across the Union and beyond to EU candidates and neighbours. The Standards institute procedures conducive to clearly prepared, unambiguous valuation reports that are consistent with EU regulation and accounting standards, helping businesses to reap the full benefits of the EU internal market’s free movement of people, goods, services and capital.

The Standards are effective immediately, but given the current restrictions on movement, the formal launch event will take place on Friday 30 October in Brussels.

ENDS

For further information contact:

TEGoVA Secretariat, on +32 2 503 32 34

+32 478 22 54 53

Notes for Editors

European Business Valuation Standards at: www.tegova.org

The European Group of Valuers’ Associations (TEGoVA) unites 72 national valuers’ associations from 38 countries representing 70 000 qualified valuers either self-employed or employed by specialist consultancies, private sector companies, government departments or financial institutions both local and international. Its European Valuation Standards (EVS) for real estate have been given precedence over all other standards by the European Central Bank in successive editions of its Asset Quality Review manual for the updating of banks’ real estate collateral values.

www.tegova.org