The Bureau of Local Government Finance (BLGF), as an institutional member of the International Valuation Standards (IVSC), participated in the recently concluded 2019 IVSC Annual General Meeting (AGM) on 07-09 October 2019 in Singapore.
The IVSC is a global non-profit and professional organization that operates a robust standard-setting process, led by boards of independent technical experts from around the world. This ensures that the established valuation standards are collaboratively developed to achieve the goal of transparency and credibility in valuation profession.
The AGM 2019 provided a good opportunity for the BLGF in networking with global experts and regulators to support the agency mandate of providing technical supervision to local government assessors in the Philippines, particularly on real property valuation. The various board and advisory meetings of the AGM also served as a channel to establish working relations for the programs and initiatives of BLGF on property valuation, assessment and taxation.
The BLGF contingent was led by Executive Director Niño Raymond B. Alvina and composed of Director Ma. Pamela P. Quizon of Local Fiscal Policy Service, Acting Director Ricardo L. Bobis Jr. of Local Government Units Operations Service, Ms Anabelle C. Garrido, Chief of Project Evaluation and Monitoring Division, Ms Luz R. Lapid, Acting Chief of Local Assessment and Operations Division and Ms Laurice Jane J. Navarro.
In the AGM 2019, ED Alvina also formally handed out copies of Philippine Valuation Standards (PVS) 2nd Edition, 2018, which adopted the IVS 2017, to Mr. Nick Talbot, CEO of IVSC, and Sir David Tweedie, Chairman of IVSC Board of Trustees.