Objective

objective1

For valuation practitioner:

  • Provide standards and guidelines suitable for the Hong Kong market
  • Quality of work assurance, foster public trust for the industry
  • Provide training, counseling as well as dispute resolution

For financial advisers and sponsors:

  • Increasing pressures are being placed onto the financial advisers and sponsors by the regulatory bodies to assess valuation work
  • Pursuant to the Hong Kong Exchange Listing Rules 14.62, financial advisers are required to comment on profit forecasts, which often forms the basis of valuation work
  • Under the Standards, valuers would also have to confirm that the profit forecasts were estimated after due and careful enquiry

For reviewer: (e.g. auditors and other regulatory bodies)

  • Standard disclosure within valuation reports would allow easier understanding
  • Valuers would be obliged to provide all the necessary information for the basis of the valuation
  • Queries would need to be addressed in a satisfactory manner
  • Reviewers can consult HKIFV with regards to potential dispute