The Reporting Standards Operations Manual establishes the governance upon which Reporting Standards will be maintained including additions, modifications, clarification and deletions to the Reporting Standards.
Policies and Procedures
Basis for Governance within Reporting Standards
Institutional equity real estate investments are part of a broader investment universe that includes both public and private equity and debt instruments. These markets tend to be governed by various regulatory, industry, or professional bodies with differing levels of standard-setting authority while most authority is legislative, other standards observed in capital markets are often derived from professional affiliations and market custom. In many respects, this is the case with institutional equity real estate investment in the United States.
The Reporting Standards incorporates by reference governance from standard-setting organizations where applicable, to the institutional equity real estate investment management community. In addition, Reporting Standards provides alternative guidance in specific areas such as valuation, fair value accounting and performance and risk measurement where the aforementioned standards are silent or subject to interpretation. The standard setting organizations which are foundational to Reporting Standards (Foundational Standards) are: