Govt may setup national institute for valuers on the lines of ICAI

The government will look at setting up a national institute for valuers on the lines of chartered accountants' apex body ICAI, a senior official said Saturday.

The Companies Act, 2013 provides a comprehensive framework for development and regulation of the profession of valuers.

Corporate Affairs Secretary Injeti Srinivas said now there is critical mass for having a national institute for valuers on the lines of the ICAI.

He also stressed on the importance of professional competence, conduct and ethics of valuers.

The Institute of Chartered Accountants of India (ICAI) was set up under an Act of Parliament.

Srinivas was speaking at a national seminar on valuation here organised by the Insolvency and Bankruptcy Board of India (IBBI).

He also said that standards for valuation are likely to be finalised in the near future.