Introduction To Valuation And Property Standards-Books Pdf

INTRODUCTION TO VALUATION AND PROPERTY STANDARDS
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Introduction to Valuation and Property Standards 3. 1 0 The Australian Property Institute 3,1 1 International Valuation Standards 3. 1 2 International Property Measurement Standards 3. 2 0 Terms 3,3 0 Valuation and Property Standards 4. 3 1 Purpose 4,3 2 Status of Professional Standards 4. 3 3 Intellectual Property 5,4 0 Development of Professional Standards 5. 4 1 Australian Valuation Standards Committee and Australian Property Standards Committee 5. 4 2 Procedures 5,5 0 Effective Date 6, Australian Property Institute Introduction to Valuation and Property Standards Page 2 of 6.
Introduction to Valuation and Property Standards,1 0 The Australian Property Institute. The Australian Property Institute API is a leading membership organisation for property. professionals in Australia The API is the successor to the Commonwealth Institute of Valuers formed. in 1926 The API represents the interests of approximately 8 000 property professionals. The API is independent objective and authoritative and is guided by their prescribed set of rules. that provide transparency and public accountability They act as advocates on behalf of the. profession as well as educators and proponents of professional standards and compliance The API. oversees and administers the APIV Professional Standards Scheme. The API is committed to upholding the qualities of integrity experience professionalism and. specialist expertise The Institute recognises their role and responsibilities in assisting Members to. provide high quality professional services relevant to the current and changing needs of clients and. the community They acknowledge that the privileges accorded to professional persons by the. community are accompanied by responsibilities to client and community. 1 1 International Valuation Standards, International Valuation Standards IVS published by the International Valuation Standards Council. IVSC are adopted in their entirety by the API It is the Members responsibility to follow IVS keep. informed of any changes and apply them consistently in their professional tasks. https www ivsc org,1 2 International Property Measurement Standards. International Property Measurement Standards IPMS published by the International Property. Measurement Standards Coalition IPMSC are adopted in their entirety by the API It is the API. Members responsibility to follow IPMS keep informed of any changes and apply them consistently. in their professional tasks https ipmsc org, Institute All references to Institute mean the API. Member A Member of the Australian Property Institute. The Committee s Refers to the Australian Valuation Standards Committee AVSC and or the. Australian Property Standards Committee APSC, Professional Valuation and property guidelines as adopted including International.
Standards Valuation Standards International Property Measurement Standards. Technical Information Papers Practice Standards Guidance Notes and any. other professional guidelines adopted, Australian Property Institute Introduction to Valuation and Property Standards Page 3 of 6. 3 0 Valuation and Property Standards,3 1 Purpose, API Professional Standards provide Members with guidance and professional assistance. Professional Standards and guidelines developed by the API are created formalised and adopted. through a rigorous process with the AVSC the APSC specialty subcommittees Members and others. Australia is closely involved in the development of IVSC and IPMSC standards and guidance notes If. there are departures or differences between IVS IPMS and API Professional Standards it will. normally be noted in the API document If a Member finds any such variances are not noted they. should advise and check with the API prior to proceeding. E standards api org au T 61 2 9299 1811,3 2 Status of Professional Standards. Type Status,API Code of Professional Mandatory,International Valuation Best practice. International Property Best practice,Measurement Standards.
Practice Standard Best practice,Guidance Note Best practice. Technical Information Paper A guide and measure of acceptable professional practice and. TIP conduct of a Member, Supporting Memorandum Explains the use of valuation formats in common use such as. PropertyPro reports kerbside reports and desktops Mandatory. for valuers using those report formats, Standing Instruction client Mandatory to Members who are in a contract with a client. issued requiring their use, API Standard Instruction A guide to assist Members that is considered acceptable. professional conduct,Member Alert New information conveyed to Members.
Member Advice Information considered beneficial that will assist Members in. their practices and in their professional development. Valuation Protocol API advised professional practice and procedure. Australian Property Institute Introduction to Valuation and Property Standards Page 4 of 6. 3 3 Intellectual Property, IVS is copyright by the IVSC Refer to full copyright qualifications in IVS. IPMS is copyright by the IPMSC Refer to full copyright qualifications in IPMS. All reports prepared by a Member must give appropriate acknowledgement of the ideas scholarship. and intellectual property of other sources insofar as these sources have been used. 4 0 Development of Professional Standards, 4 1 Australian Valuation Standards Committee and Australian Property Standards Committee. The AVSC and the APSC are governed by their Policies and Charters as approved by the API Board. Committee members are appointed in accordance with the Charters The Committees comprise a. broad cross section of disciplines geographical locations and expertise from membership of the API. the Property Institute of New Zealand PINZ the Australian Accounting Standards Board AASB and. the API Young Property Professionals YPP Representatives of invited organisations may be. included such as the Law Society the Financial Services Institute of Australia FINSIA the IVSC the. IPMSC State Valuers General and the Commonwealth Government. 4 2 Procedures, Potential professional standards may be proposed by a number of sources and require the consent of. the Committee prior to development The Committee will establish the requirement for a TIP. practice standard guidance note or other and if satisfied that such a document is required will. manage the development and review process, Initial development will often be through a subcommittee or ad hoc committee who will formulate. content including any policy and professional aspects which must be addressed Once the draft. document reaches a standard that satisfies the subcommittee it is then forwarded to the AVSC or. APSC who must satisfy themselves that the draft document adequately addresses all the. requirements, The Committee will then issue the draft document as an Exposure Draft It will be hosted on the API.
website and advertised in Member News Comments are then forwarded to the authors and. assimilated where appropriate After consideration of the comments received a final draft will be. presented to the Committee and if no further amendments are required it will be published. This representation and external exposure process is designed to ensure that the professional. standards are consistent with industry best practice legal requirements accounting standards and. case law It is intended that all TIPS are consistent with concepts and definitions with IVS. From time to time the Committees may approve revisions to existing standards at their discretion. Instances where this could occur may be for example when there are updates to legislation or where. correcting ambiguity in papers is required At all times the Committees are committed to serving. Members and achieving their purpose effectively, The API General Manager Professional Standards administer the process of the production of TIPS. Practice Standards Guidance Notes and other Professional Standards communications. Australian Property Institute Introduction to Valuation and Property Standards Page 5 of 6. 5 0 Effective Date,1 October 2019, Australian Property Institute Introduction to Valuation and Property Standards Page 6 of 6.

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