The AICPA, ASA, and RICS invite interested parties to comment on the proposed Valuation Professional Framework (VPF) Exposure Draft. The basis for the VPF was the document formally known as the Mandatory Performance Framework (MPF).
To assist respondents in reviewing the proposed VPF, there are two documents for consideration: the VPF Exposure Draft and a high-level bridging document outlining the key changes from the Mandatory Performance Framework (MPF) to the proposed VPF. The bridging document is intended as an overview and should be read alongside the full exposure draft.
The VPF has been developed to provide a comprehensive, principles-based framework to promote consistency, quality, and transparency across valuation engagements. The proposed framework reflects the evolving needs of valuation professionals while maintaining a commitment to professional competence, objectivity, and sound professional judgment.
Stakeholders are encouraged to review the exposure draft in its entirety and provide comments on all aspects of the proposed framework, including its clarity, operability, relevance, and potential impact on valuation practice. The AICPA, ASA, and RICS welcome feedback on whether the proposed provisions appropriately address current practice needs and whether additional guidance may be beneficial.
All comments received during the 75-day exposure period will be carefully considered by the VPF Working Group before it is finalized. Respondents are encouraged to provide specific recommendations and supporting rationale to assist in the evaluation of proposed revisions.
The exposure draft and instructions for submitting comments are available below. The AICPA, ASA, and RICS value the perspectives of valuation practitioners, users of valuation services, regulators, academics, and other interested parties and appreciate their participation in this review process.
Provide your feedback by submitting comments to VPFConsultation@rics.org. Your feedback will help shape a globally relevant framework that supports high-quality valuation practice across the profession. If you have any questions regarding the consultation, please contact: Bonny Rogers.
Download the High Level Bridging Reference for the Valuation Performance Framework