Defvas Project In Partnership with TEGoVA and the IRRV THE ETHICS OF THE VALUATION PROFESSION

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

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

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)

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