Page 25 - Quick Insights Book 2022
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Chap. 4 – Registered Valuer
Status of registered valuer ICAI REGISTERED VALUERS ORGANISATION
Recognising the need to have the consistent, uniform and For this specific purpose, the Institute of Chartered
transparent valuation policies and harmonise the diverse Accountants of India has formed a Section 8 private
practices which are in use in India, the Council of the company which has been recognized by the IBBI as a
Institute of Chartered Accountants of India (ICAI) has Registered Valuers Organisation (ICAI RVO) to enroll and
issued the ICAI Valuation Standards 2018 which are first regulate registered valuers or valuer member as its members
of its kind in India. in accordance with the Companies (Registered Valuers and
Valuation) Rules, 2017, and functions incidental thereto. ICAI
The Valuation Standards that have been issued by ICAI RVO is registered for Securities or Financial Assets Class.
will help the members in maintaining the consistency in
issuing the Valuation reports. These Standards will also Some of the important roles of ICAI RVO are as follows-
help in providing appropriate content and disclosures in
the valuation report. ensure compliance with the Companies Act, 2013 and
rules, regulations and guidelines issued thereunder
These standards come as ICAI’s consistent drive to guide governing the conduct of registered valuers organisation
its members for ensuring high quality work and standards. and registered valuers;
employ fair, reasonable, just, and non-discriminatory
The last few decades have witnessed amazing strides in practices for the enrolment and regulation of its members;
the scope of our profession. We have seen a paradigm
shift in the range of services rendered by Chartered be accountable to the authority in relation to all bye-laws
Accountants. It has occurred due to widespread changes and directions issued to its members;
in the macro-economic scenario, regulatory and legal develop the profession of registered valuers;
environment and prevalent industry practices. With the
growing role of Companies Act, 2013, Insolvency and promote continuous professional development of its
Bankruptcy Code, 2016, SEBI in controlling the financial members;
market, the subject of Valuation has gained considerable
importance. continuously improve upon its internal regulations and
guidelines to ensure that high standards of professional
and ethical conduct are maintained by its members; and
INSTITUTIONAL SET UP UNDER THE
COMPANIES (REGISTERED VALUERS AND provide information about its activities to the authority.
VALUATION) RULES, 2017 IBBI has notified the syllabus and mandated a 50 hours
Authority, i. e., The Insolvency and Bankruptcy Board of training by the Registered Valuers Organisation which is
India a precondition to take examination to become Registered
valuer.
Registered Valuers Organisation
While the law provide opportunities to all professionals
Registered Valuers for enrolling as Registered Valuers, Valuation i s a
highly specialised field which can be performed by the
professionals having a blend of finance, accounting and
law hence Chartered accountants are best suited for
valuation as at various levels of Chartered Accountancy,
the syllabus includes various topics and methodology
of Valuation which creates a strong knowledge base for
Chartered Accountants.
12 Quick Insights on Professional Opportunities for Chartered Accountants
