Prudential Standard SPS 530 – Investment Governance in Superannuation
The Council supports APRA’s proposal to include the requirement of a valuation governance framework in SPS 530. This will increase confidence amongst superannuation members of the valuation standards and methodologies applied by GPs and Superannuation trustees to private capital assets.
In general, the Council considers that the valuation guidelines produced by the International Private Equity and Venture Capital Valuation Guidelines (IPEV) represent the ‘gold standard’ for best practice, principles-based guidelines for private equity and venture capital practitioners.
These guidelines are specific to private capital and are developed in close collaboration with international accounting standard setting bodies to ensure consistency with international frameworks for the preparation and presentation of financial information.
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