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Business Valuations Sydney : Services provided by Xcllusive Business Agency
All of our business valuation services are in accordance with AIBB code of Conduct for Registered Business Valuers (RBV) and International Accounting Standard No. 255
Australian Institute of Business Brokers
Code of Conduct applying to Registered Business Valuers
All Australian Institue of Business Broker's Registered Business Valuers (RBV) must comply with this Code of Conduct. It is recognised that this is to promote the public trust inherent in professional valuation practice. All RBV's must observe the highest standards of professional ethics.
1. An RBV must not misrepresent his/her role when providing a valuation service that is outside of their valuation practice
2. An RBV must perform assignments ethically and competently in accordance with this code
3. An RBV must not engage in criminal conduct
4. An RBV must perform assignments with partiality. He/she must have objectivity and independence, and be without accommodation of personal interest
5. In valuation practise, an RBV must not advocate the cause or interest of any party or issue
6. An RBV must not accept an assignment that includes the reporting of a predetermined opinion or conclusion
7. An RBV must not communicate assignment results in a misleading or fraudulent manner.
8. An RBV must not use or communicate a misleading or fraudulent report or knowingly permit an employee or other person to communicate a misleading or fraudulent report.
9. An RBC must not use or rely on unsupported conclusions relating to characteristics such as race, colour, religion, national origin, gender, marital status, family status, age, receipt of public assistance income, handicap, or an unsupported conclusion that homogeneity of such characteristics is necessary to maximise value.
10. The payment of undisclosed fees, commissions or things of value in connection with the procurement of a valuation is unethical.
11. It is unethical for a valuer to accept compensation for performing an assignment when it is contingent upon: (a) the reporting of a predetermined result, (b) a direction in valuation results that favors the cause of a client, (c) the amount of a value opinion, (d) the attainment of a stipulated result, or (e) the occurrence of a subsequent event directly related to the valuers' opinions and specific to the assignment's purpose.
12. It is unethical for a valuer to advertise for, or solicit assignments, in a manner that is false, misleading or exaggerated.
13. An RBV must protect the confidential nature of the client relationship
14. An RBC must act in good faith with regard to legitimate interest of the client and the use of confidential information and in the communication of assignment results
15. An RBV must be aware of and comply with all confidentiality and privacy laws and regulations applicable in a valuation
16. An RBV must not disclose confidential information or assignment results prepared for a client to anyone other than the client and persons specifically authorised by the client; state enforcement agencies and such third parties as may be authorised by due process of law; or a duly authorised professional peer review committee except when such disclusure to a committee would violate applicable law or regulation
17. It is unethical for a member of a duly authorised professional peer review committee to disclose confidential information presented to the committee
18. An RBV must disclose the lack of knowledge and/or experience to the client before accepting the assignment, take all necessary steps appropriate to complete the valuation competently, and describe the lack of knowledge and/or experience and the steps taken to complete the assignment competently in the report
19. An RBV must disclose any interest the appraiser has in any item(s) being appraised.
20. The RBV certifies that he/she has not valued or had any other involvement within the past two years with the property appraised unless prominently disclosed to the client prior to acceptance of the agreement.