September 2011 e-News
September 2011 e-News
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In this months issue of the API e-News:
-
Professional Issues August - September 2011
- PropertyPRO
- Parties to Rely on Valuation
- Draft Report - Influence of Instructing Parties
- Professional Indemnity Insurance Issues
- National Professional Board (NPB) Issues
- New Insurance Guidance Note
-
Australian Valuation Standards Board and Australian
Property Standards Board Membership Applications - Seeking Work
Professional Issues August 2011
PropertyPRO
The Institute has for some time been working with the major lending institutions in revising the PropertyPRO Residential Valuation and Security Assessment Proforma Supporting Memorandum. The document is expected to be finalized shortly. It is proposed that the document be released into the market as soon as possible in order that it can be effective from 1 February 2012.
Read more >>
Parties to Rely on Valuation
A case of valuers beware. It is not unusual for valuers undertaking a valuation for financial and or mortgage purposes to be requested to have more than the instructing party being able to rely upon the valuation.
Read more >>
Draft Report - Influence of Instructing Parties
It has been brought to the attention of the Institute that requests for draft reports are becoming far more common in the market place.
Read more >>
Proferssional Indemnity Insurance Issues
The Institute continues to liaise with industry about exclusion clauses / endorsements in the market place.
Read more >>
National Professional Board (NPB) Issues
- ANZVGN 13 Valuations for Insurance Purposes has been issued as a Guidance Note...
- The NPB has sought clarification on the requirements of the Tax Agent Services Act 2009 (TASA)and how it may apply to particular aspects of work carried out by the valuation profession...
- The lending industry had raised concerns about Internal Rates of Return and the lack of consistency in approach for development projects and reporting the "real" return...
- The International Valuation Standards Council has issued its revised International Valuation Standards (IVS) effective from 1 January 2012...
New Insurance Guidance Note
Members are advised that a new Guidance Note, ANZVGN 13 Valuations for Insurance Purposes (replacing AVGN 2 Valuations for Insurance Purposes and NZVGN 2 Insurance Valuation Reports) will be included in the September edition of the Australia & New Zealand Property Journal.
To download an electronic copy of the new Guidance note click here.
Australian Valuation Standards Board and Australian Property Standards Board Membership Applications
Following from the Annual General meeting in May, Members and Divisions are now invited to submit applications to participate on the Australian Valuation Standards board and the Australian Property Standards Board from 1 January 2012.
- For a copy of the Australian Valuation Standards Board Application Form click here.
- For a copy of the Australian Valuation Board Operating Guidelines click here.
- For a copy of the Australian Property Standards Board Application Form click here.
- For a copy of the Australian Property Standards board Operating guidelines click here.
Applications close on Friday 30 September.
For further information please contact the Institute’s Professional Standards Manager (Mr. Tony McNamara) at tmcnamara@api.org.au
Seeking Work
Kevin Murphy from Ireland is seeking employment in Australia.