Skip to main content

Professional Competence and Due care for Registered Valuers

Professional Competence and Due Care

A valuer shall render at all times high standards of service, exercise due diligence, ensure proper care and exercise independent professional judgment.

A valuer shall carry out professional services in accordance with the relevant technical and professional standards that may be specified from time to time

A valuer shall continuously maintain professional knowledge and skill to provide competent professional service based on up-to-date developments in practice, prevailing regulations/guidelines and techniques.

In the preparation of a valuation report, the valuer shall not disclaim liability for his/its expertise or deny his/its duty of care, except to the extent that the assumptions are based on statements of fact provided by the company or its auditors or consultants or information available in public domain and not generated by the valuer.

A valuer shall not carry out any instruction of the client insofar as they are incompatible with the requirements of integrity, objectivity and independence.

A valuer shall clearly state to his client the services that he would be competent to provide and the services for which he would be relying on other valuers or professionals or for which the client can have a separate arrangement with other valuers.
Labels:

Comments

Post a Comment

Popular posts from this blog

Vikash Goel - Introduction

Hello People, Welcome to my Blog Please pardon me if u find this blog a bit unconventional, unusual and out of place. To be honest, m not a blogger and this is my Debut as far as Blogging is concerned. I am a simple, average guy from Kolkata, India. I am a CA, MS Finance, CFA (ICFAI, India), Diploma in Business Management, Bachelor of Commerce. Meanwhile for a quick look about me, visit the link below, (its become a little outdated as of now but still enough to give an idea about me) http://www.freewebs.com/vikash_goel/ www.vikashgoel.com Catch ya soon
1 comment
Read more

Angel Tax on start-ups may be amended soon

The Angel Tax imposed on start-ups has been the talk of the town lately. Various start-up founders have received demand notices from the tax authorities which plans to tax the capital receipts in the form of Income when the tax authorities believe that the amount is in excess of the value of the company. What is Angel Tax? In 2012, the then Finance Minister Pranab Mukherjee introduced a tax on unlisted companies which aimed at raising funds from investors (the 'angel investors") who invested in these companies with the objective of gaining significant returns. Since many companies used this route to launder money and raise funds at excessive valuations, the tax was imposed to arrest such money laundering. Angel Tax is a tax payable by the unlisted companies who raise funds via issue of shares where the share price is believed to be in excess of the fair market value of the shares sold. What is a Startup? An entity shall be considered as a Startup: (i). Upto a period o...
Post a Comment
Read more

Economic Survey 2013 Highlights

Chief Economic Advisor Raghuram Rajan tabled his first ever Economic Survey. Key features of the Survey are: GDP growth for 2012-13 is expected at 5% GDP growth for 2013-14 is expected at 6.1% to 6.7% The Average WPI Inflation has come down from 8.9% in 2011-12 to 7.6% in 2012-13 The Average CPI Inflation has increased from 8.4% in 2011-12 to 10.0% in 2012-13 Gross Fiscal Deficit has come down from 5.7% of GDP to 5.1% of GDP Revenue Deficit has come down from 4.3% of GDP to 3.5% of GDP The trade deficit increased to US$ 189.8 billion (10.2 per cent of GDP) in 2011-12 as compared to US$ 127.3 billion (7.4 per cent of GDP) during 2010-11. Current account deficit seen at 4.6% for 2013-14 Overall global economic environment remains fragile Gold imports is key contributor to inflation, imports need to be curbed LPG and Diesel prices need to be increased in line with global rates, oil subsidy is a key risk
1 comment
Read more