RICS Valuation - Professional Standards 2012 (the "Red Book") is issued by the RICS Valuation Professional Group as part of its ongoing commitment to promote and support high standards in valuation delivery worldwide.

2012 edition

This latest edition includes a number of changes to the existing standards to fully incorporate the new International Valuation Standards (IVS) and is effective from 30 March 2012.

(The Red Book) became effective for all RICS professional valuers from Friday 30 March. This means members valuing assets such as business, commercial, residential and other property, as well as intangible assets, land, plant and machinery will need to adhere to the new edition on valuations from Friday to maintain regulatory compliance.

The official name of The Red Book has slightly changed, as it now includes International Valuation Standards (IVS) and is more comprehensive than previous editions. Members can now get both standards as one and pay an extra £20 for IVS as opposed to paying £40 to buy them separately. 

RICS Valuation – Professional Standards 2012 is available online at www.rics.org/redbook, with hardcopies available to buy www.ricsbooks.com/redbook