New programme launched to train chartered business valuer

SINGAPORE - A new programme to enhance the expertise and standards of business valuation was launched on Tuesday (April 19), as Singapore continues its push to become the financial and legal services hub of the region.

The Chartered Valuer and Appraiser programme will begin its inaugural 18-month training course in August, the Institute of Valuers and Appraisers of Singapore (Ivas) announced at a launch event.

The training, to be conducted by the Nanyang Technological University Business School, will combine industry best practices and the competency standards set by the International Valuation Standards Council.

Those who have completed the programme and accumulated sufficient working experience can apply to be certified by Ivas as a chartered valuer.

The programme came as business valuation - an aspect of accounting or auditing that aims to estimate the value of an asset on the balance sheet or in a business deal - becomes increasingly important in Singapore, Senior Minister of State for Law and Finance Indranee Rajah said at the programme launch.

Competent business valuers are needed to support the growing merger-and-acquisition activities here, as well as Singapore's ambition to be a dispute resolution centre.

"The ability to enforce our judgments more widely will give parties an added incentive to choose Singapore courts as the dispute forum.

"We have also positioned Singapore as an intellectual property hub, and one area we are encouraging is the use of IP as collateral for loans and financing. In order for banks and financial institutions to determine how much to lend many will need to get a valuation of the IP."

Against this backdrop, the new programme will address the current lack of structured training and certification in this segment.

"Currently, individuals who wish to embark on a career in business valuation can only rely on ad-hoc and unstructured on-the-job training to pick up the relevant skills and knowledge," Ms Rajah said.

"Over time, the chartered valuer and appraiser title is envisaged to become a mark of quality for business valuation professionals."

To encourage more mid-career participants, the programme will be supported by the SkillsFuture scheme, which will offer a S$5,000 study award to successful applicants.

It will also be supported by 13 institutions in the financial industry, including the Big Four auditing firms, as industry partners.