Reporting Standards Strategic Plan

Our Vision for Industry Alignment and Transparency

Each year, the Reporting Standards Board develops a three-year strategic plan and annual budget, approved by our sponsors—NCREIF and PREA. This plan outlines our long-term objectives and annual priorities to ensure the Reporting Standards initiative continues to meet the evolving needs of the institutional real estate investment industry.

The strategic plan is a rolling three-year roadmap, updated annually to reflect industry developments and maintain relevance. This approach ensures continuity, adaptability, and a clear path forward.

Governance Framework

A Foundation Built on Industry Standards

Institutional real estate investment operates within a broader financial ecosystem that includes public and private equity and debt markets. These markets are governed by a mix of regulatory, professional, and market-driven standards.

The Reporting Standards initiative aligns with and incorporates guidance from key standard-setting bodies, while also providing supplemental guidance in areas where existing standards are silent or ambiguous—such as valuation, fair value accounting, and performance measurement.

Foundational Standards We Reference:

  • GIPS® – Global Investment Performance Standards by CFA Institute
  • U.S. GAAP – Financial Accounting Standards Board (FASB)
  • USPAP – Uniform Standards of Professional Appraisal Practice

Governance and Operations
The Governance and Operations Manual outlines the structure and responsibilities of the Reporting Standards Board and Council. It includes:

  • Operational processes
  • Governance structure
  • Roles and responsibilities

Governance and Operations Manual

Reporting Standards Change Process

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