RICS Rules of Conduct and Global Professional Standards RB-VPS6: Red Book VPS 6: valuation report contents

The report and documentation must set out the conclusions clearly and without ambiguity or false impression, address everything agreed in the terms, be delivered in writing (any medium) and give users transparency on approaches, methods, inputs, models, judgement and value; client-specified formats must still cover the required matters through the service agreement or terms. The report must address: the responsible valuer's identity and status (with professional designation and any material involvement or a statement of none); who the client is and who else is meant to use the report; the purpose; the assets or liabilities; the basis of value with its definition; the valuation date; the extent of investigation; the information relied on including key data and inputs; assumptions and special assumptions in full; restrictions on use, distribution and publication; confirmation of IVS and/or Red Book compliance; the approach and reasoning including methods and complex or proprietary models; the amount; the report date; comment on material valuation uncertainty where needed; agreed liability limits; and significant ESG factors used and considered.