CODE OF PROFESSIONAL ETHICS & CONDUCTS AND DEFINITIONS

FREE COMPLETE STUDY MATERIAL NOTES FOR IBBI EXAMINATION

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ONLINE BATCH STUDY MATERIAL-50 HRS EDUCATIONAL COURSE UNDER RULE 5(1) READ WITH RULE 12(2)(a) FOR REGISTRATION AS VALUERS UNDER THE BANNER OF CEV IAF RVO

UNIT-2

CHAPTER-7

CODE OF PROFESSIONAL ETHICS & CONDUCTS FOR REGISTERED VALUERS

(Under clause (g) of rule 7 and clause (d) of sub-rule (2) of rule 12 of Companies (Registered Valuers and Valuation) Rules, 2017)

INTEGRITY AND FAIRNESS

It is valuer’s obligation to develop and describe the appropriate type of value or estimated cost.
It is valuer’s obligation to develop appropriate and credible conclusion and opinions with a high degree of accuracy depending on the purpose of the valuation assignment.
A valuer shall abstain from deliberately giving false and misleading opinion and conclusion.
A valuer shall attain high degree of competency in his work through education, training, study, practice, and experience.
A valuer shall, in the conduct of his/its business, follow high standards of integrity and fairness in all his/its dealings with his/its clients and other valuers.
A valuer shall maintain integrity by being honest, straight forward, and forthright in all professional relationships.
A valuer shall endeavour to ensure that he provides true and adequate information and shall not misrepresent any facts or situations.

PROFESSIONAL COMPETENCE AND DUE CARE
1. A valuer shall render at all times high standards of service, exercise due diligence, ensure proper care and exercise independent professional judgment.
2. A valuer shall carry out professional services in accordance with the relevant technical and professional standards that may be specified from time to time.
3. 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.
13. 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

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