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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.
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