Findings of the Peer Review of the Valuation Reports- Based on Workshop on Peer Review of Valuation Reports conducted on 17th February, 2021.
Findings of the Peer Review of the Valuation Reports
Based on Workshop on Peer Review of Valuation Reports conducted on 17th February, 2021.
NEW DELHI (23-04-2021):A peer review workshop was organized by ICAI Registered Valuers Organisation in association with the Insolvency and Bankruptcy Board of India (IBBI) to share findings of Peer Review of Valuation Report for the three Asset Classes, i.e., Securities or Financial Assets, Land & Building and Plant and Machinery as per Companies (Registered Valuers and Valuation) Rules, 2017. The workshop was held through video conferencing on 17th February 2021.
A similar workshop was organised by ICAI RVO in association with IBBI on 14th February 2020 and the outcome of which was published on the website of IBBI and RVOs.
The workshop was addressed by Dr. Navrang Saini Whole Time Member, IBBI, Mr. Ashok Haldia, Independent Director ICAI RVO, and Mr. Debajyoti Ray Chaudhuri, Chief General Manager, IBBI. CA. Ms. Sarika Singhal of ICAI RVO moderated the proceedings.
MD/CEOs of thirteen RVOs participated in the workshop and 9 RVOs made presentations on key findings emerging out of the peer review undertaken by them. Others did not have RVs for the period under review. The peer-review also examined compliance with the Guidelines on Use of Caveats, Limitations and Disclaimers by the Registered Valuers in Valuation Reports and it was noted that most Registered Valuers have welcomed the guidelines, however, its implementation needs to be monitored closely.
In general, the RVOs were of the opinion that the quality of valuation reports had improved compared to the previous year and most of the shortcomings observed in the previous year’s peer review were not observed in the current peer review.
Contents: 1. Summary of findings during the peer review of valuation reports 2. Recommendations/Suggestions 3. Compliance with the Guidelines issued by IBBI on Use of Caveats, Limitations and Disclaimers by the Registered Valuers in Valuation Reports