Chartered Valuer and Appraiser Designation
The Chartered Valuer and Appraiser (CVA) designation is a mark of quality for Business Valuation professionals.
Upon completion of the CVA programme, you will be conferred the Associate Chartered Valuer and Appraiser (ACVA) designation.
You may apply for the CVA designation once you have accumulated the required experience.
Eligibility
To become a CVA holder, an individual must have:
- Completed the Chartered Valuer and Appraiser (CVA) Programme; and,
- Accumulated a minimum of 3 years of suitable experience, comprising Core Valuation Experience and Non-Core Valuation Experience, obtained within a 4-year period from the date of application.
Core Valuation Experience
At least 1.5 years of the required minimum of 3 years of relevant experience required to become a CVA holder should be Core Valuation Experience. This is experience in Business Valuation, Corporate Finance and Litigation Support, where a conclusion of value related to a business, business interest, intangible property or losses is reached or rendered. This should comprise significant responsibility in any of these areas:
- activities which are involved in the provision of value conclusions;
- activities in connection with financial litigation support and the quantification of economic losses;
- activities in an investment capacity including, but not limited to preparation of analysts’ reports and studies and investment analysis;
- acting as business broker to the extent that it involves activities such as pricing, negotiating, and reviewing bids and proposals;
- corporate finance advisory activities, to the extent that time is spent in the process of pricing, negotiation or structuring.
Non-Core Valuation Experience
Having fulfilled at least 1.5 years of Core Experience, the balance of the minimum of 3 years of experience required can be Non-Core Valuation experience. These activities are consistent with business valuation and include any of the following:
- Financial, commercial and tax due diligence
- Transfer pricing for intangible assets
- Forensic accounting
- Financial reporting
- Auditing of financial statements
- Demonstration of substantial knowledge of Business Valuation theory, methodologies, and practices through teaching university or professional development courses covering at least one-third of the content in the Chartered Valuer and Appraiser programme’s Body of Knowledge and having published works on the subject.
Application
- 1st Application Window: 1 January - 15 March
- 2nd Application Window: 1 July - 15 September
Evaluation of applications will take place 8 to 12 weeks after the closing date if complete information is provided in the application. During this time, IVAS may request for additional information.
Application Form
Submit the application form (PDF, 272KB) to ivas@acra.gov.sg.
Download the 'IVAS Disciplinary Rule Book' (PDF, 780KB) which governs CVA holders.
IVAS reserves the right not to disclose the reasons for approving or rejecting any application.
CVA Endorsers
You may seek support from IVAS (ivas@acra.gov.sg) to connect to a CVA holder to endorse your application should you find it difficult to identify one.
Do submit your request in writing with the completed application form, including detailed information on your core valuation experience. The CVA Endorser may request more information through sanitised valuation reports; and an interview to better evaluate your suitability as a CVA holder. Connection to a CVA Endorser does not guarantee an endorsement.
Fees
The annual fee for CVA holder is SGD$400 (before GST).
For first year, the fee structure varies based on your ACVA status and application approval date:
Applicant Type | Fees |
|---|---|
ACVA holders | SGD $400 per annum (before GST), payable from the following year after CVA designation is conferred. |
Non-ACVA holders | For applications approved 1 January – 31 March SGD $400 per annum (before GST), payable in the year CVA designation is conferred. |
For applications approved 1 April – 31 December Pro-rated fee of SGD $200 (before GST) payable in the year CVA designation is conferred; and SGD $400 (before GST) from the second year onwards. |
Note: The fees are subject to the prevailing GST.
Benefits
As an CVA holder, you will:
- Be able to use the CVA designation as a post-nominal title (e.g. John Lim, CVA)
- Receive preferential rates for IVAS events and CPD training courses
- Receive complimentary invites to IVAS Networking Events
- Enjoy special rates for events and CPD training courses by IVAS partners
- Receive complimentary access to ValuAsia Connect webinar series by IVAS and IVSC
- Have access to Business Valuation practice guides and technical resources
- Have access to the latest International Valuation Standards (IVS)
Maintaining CVA
CVA holders are committed to:
1. Fulfil 20 Continuing Professional Development (CPD) hours annually
2. Adhere to the International Valuation Standards
3. Adhere to the Code of Ethical Principles (PDF, 74.5KB) for Professional Valuers
4. Comply with the rules in the IVAS Disciplinary Rulebook (PDF, 780KB).
Termination and Withdrawal
Termination of CVA Designation
The CVA designation will be terminated if the renewal form and payment are not submitted after three reminders from IVAS.
IVAS will make reasonable effort to contact CVA holders before termination. CVA holders are advised to keep contact information up-to-date with IVAS.
Withdrawal of CVA Designation
For withdrawal requests, please write to ivas@acra.gov.sg.
Upon termination / withdrawal:
- The terminated / withdrawn name will be removed from the list of CVA holders on the website.
- The CVA designation can no longer be used.
Reinstatement of CVA Designation
For reinstatement requests, please write to ivas@acra.gov.sg.
Time Period | Requirements |
|---|---|
Within three (3) financial years from year of termination / withdrawal | 1) Pay a processing fee of SGD $120 (before GST), subject to prevailing GST; 2) Pay all outstanding fees for the terminated / withdrawn period; and 3) Fulfil all CPD requirements for the terminated / withdrawn period. |
After three (3) financial years from year of termination / withdrawal | 1) Complete the Chartered Valuer and Appraiser Programme; and 2) Re-apply for the CVA designation. |
Associate Chartered Valuer and Appraiser
The ACVA designation is conferred upon successful completion of the CVA programme.
This designation recognises your achievement in completing the programme as you work towards gaining the necessary valuation experience to be a CVA holder.
Benefits
As an ACVA holder, you will:
- Be able to use the ACVA designation as a post-nominal title (e.g. John Lim, ACVA)
- Receive preferential rates for IVAS events and CPD training courses
- Enjoy special rates for events and CPD training courses by IVAS partners
- Receive complimentary invites to ValuAsia Connect webinar series by IVAS and IVSC
- Have access to Business Valuation practice guides and technical resources
Maintaining ACVA Designation
As an ACVA holder, you must adhere to:
- Code of Ethical Principles for Professional Valuers (PDF, 74.5KB) advocated by the International Valuation Standards Council (IVSC), and
- IVAS Disciplinary Rulebook (PDF, 780KB).
Acceptance of the ACVA designation will be deemed as acknowledgement of these requirements.
Annual Fee
An annual fee of SGD $200 (before GST) is payable on 1 April from the second year onwards upon conferment of the ACVA designation, subject to the prevailing GST.
A letter of conferment will be issued to ACVA holders.
To opt out of the ACVA designation, please write to ivas@acra.gov.sg.
Contact Us
Should you have any queries, please contact us at ivas@acra.gov.sg.
IVAS Disciplinary Process
CVA holders are required to uphold high standards of business valuation. They have agreed to comply with the Code of Ethical Principles for Professional Valuers (PDF, 74.5KB) by the Institute of Valuers and Appraisers (IVAS); and the International Valuation Standards set by the International Valuation Standards Council (IVSC). They are required to comply with the rules in the IVAS Disciplinary Rulebook (PDF, 780KB).
Reporting a Complaint
If you believe that a CVA holder did not comply with the IVAS Code of Ethical Principles for Professional Valuers and/or the IVSC International Valuation Standards, you may make a complaint against the CVA holder.
Before you make a complaint, please note:
- Complaints can be filed against individual CVA holders, not against companies or employers of CVA holders.
- IVAS will not handle fee disputes as business valuation is not regulated in Singapore.
- IVAS cannot award damages or restitution.
- There should be an attempt to resolve the issue with the CVA holder before complaint is lodged with IVAS.
When making a complaint, please note:
- Your complaint should be on issues that occurred after the launch of the IVAS Disciplinary Framework on 25 Jun 2020 and within 6 years of this complaint.
- IVAS does not accept anonymous complaints. All fields in the Complaint Form need to be completed and the form signed. Your complaint will be acknowledged. You may be requested by the Investigations Panel to provide more information, in the form of relevant supporting documents.
- IVAS reserves the right to accept your complaint and proceed with the investigation.
- The complainant will be made aware of your complaint, and all relevant supporting documents provided by you, and reserves the right to defend himself/herself.
- Please inform IVAS if you believe that a criminal offence has been committed, and a police report has been made.
Complaint Process
1. Email your Complaint Form and all relevant supporting documents to ivas@acra.gov.sg.
2. You will receive an email acknowledgement of your complaint within 1 working week.
3. You may be requested to provide more information in the form of relevant supporting documents.
4. The duration of the investigation depends on the complexity the complaint.
5. IVAS’s decision on the investigation is final.
