The Valuation Tribunal Service Tony Masella MRICS MCIOB IRRV (Hons) AFA Chief Executive.
Defvas Project In Partnership with TEGoVA and the IRRV THE ETHICS OF THE VALUATION PROFESSION.
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Transcript of Defvas Project In Partnership with TEGoVA and the IRRV THE ETHICS OF THE VALUATION PROFESSION.
![Page 1: Defvas Project In Partnership with TEGoVA and the IRRV THE ETHICS OF THE VALUATION PROFESSION.](https://reader035.fdocuments.us/reader035/viewer/2022062519/56649cca5503460f949920e1/html5/thumbnails/1.jpg)
Defvas Project
In Partnership with TEGoVA and the IRRV
THE ETHICS OF THE VALUATION PROFESSION
![Page 2: Defvas Project In Partnership with TEGoVA and the IRRV THE ETHICS OF THE VALUATION PROFESSION.](https://reader035.fdocuments.us/reader035/viewer/2022062519/56649cca5503460f949920e1/html5/thumbnails/2.jpg)
Defvas Project
In Partnership with TEGoVA and the IRRV
CODE OF ETHICAL PROCEDURE
• The assumption of trust, at all times and without reservation
• Abide by the principles of professional conscientiousness, • Actions based on integrity, loyalty, competence and
discretion • A respect for fellow professionals.• A professional will at all times conduct themselves and
their business with honour, dignity, fairness, integrity and independence, to the greater good of the public at large, their clients
• The profession will so regulate their affairs, amongst clients and fellow practitioners, so as to promote the highest standards of ethics and mutual goodwill
![Page 3: Defvas Project In Partnership with TEGoVA and the IRRV THE ETHICS OF THE VALUATION PROFESSION.](https://reader035.fdocuments.us/reader035/viewer/2022062519/56649cca5503460f949920e1/html5/thumbnails/3.jpg)
Defvas Project
In Partnership with TEGoVA and the IRRV
ROLE OF VALUER AND HIS RELATIONSHIP WITH CLIENTS
• Conflicts of interest• Situations where the valuer has an interest
or a potential interest in a property• The obligation to confirm terms of engagement• Fees for professional work• Maintaining confidence and avoiding situations that
may prejudice the client
![Page 4: Defvas Project In Partnership with TEGoVA and the IRRV THE ETHICS OF THE VALUATION PROFESSION.](https://reader035.fdocuments.us/reader035/viewer/2022062519/56649cca5503460f949920e1/html5/thumbnails/4.jpg)
Defvas Project
In Partnership with TEGoVA and the IRRV
PROFESSIONAL COMPETENCE
• Valuers must, at all times, remain conversant with current market conditions and legislation
• Valuers are not permitted to accept any assignment that goes beyond the field of their expertise
• Valuers should thoroughly research all of the essential facts, which relate to each valuation
• Valuers, shall for so long as they remain in practice, undergo in each year Continual Professional Development (CPD)
![Page 5: Defvas Project In Partnership with TEGoVA and the IRRV THE ETHICS OF THE VALUATION PROFESSION.](https://reader035.fdocuments.us/reader035/viewer/2022062519/56649cca5503460f949920e1/html5/thumbnails/5.jpg)
Defvas Project
In Partnership with TEGoVA and the IRRV
RELATIONSHIP WITH FELLOW VALUERS
• Valuers are not permitted to take the initiative in making unsupported criticism of the professional practices of another valuer
• Valuers, if asked for a second opinion, in relation to a case, which is being handled by a fellow valuer, should give such opinion in keeping with integrity and with consideration for the professional standing of that fellow valuer.
• Valuers should endeavour to promote the standing of the profession
• Valuers should refrain from any practice that could be harmful to the good reputation of the profession