CVA Charter
CVA Charter holders are able to use the CVA designation as a post-nominal title after their name (e.g Mr John Tan, CVA). This is a privilege that only CVA Charter holders enjoy.
They are also included in the List of CVA Charter Holders on the ACRA website, and enjoy preferential rates and invitations to member-only events as part of a growing CVA community across the region.
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 Charter 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 April
- 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 Charter 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 Charter 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 Charter Holder. Connection to a CVA Endorser does not guarantee an endorsement.
Certification Fee
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Certification Fee |
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Applicants who are Associate CVAs |
SGD $400 per annum (before GST) payable the following year in which the CVA designation is conferred. |
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Applicants who are not Associate CVAs
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For applications approved 1 Jan – 31 March SGD $400 per annum (before GST) payable the year in which the CVA designation is conferred. |
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For applications approved 1 April – 31 Dec Pro-rated fee of SGD $200 (before GST) payable the year in which the CVA designation is conferred; and subsequently, SGD $400 every year (before GST). |
Associate CVA
You will be conferred the Associate CVA designation once you complete the CVA programme. This designation recognises your effort in completing the programme while you work towards getting the necessary valuation experience to be a CVA Charter holder.
Benefits
As an Associate CVA, you will:
- be able to refer to yourself as an ‘Associate CVA’ in your CVs and bios. However, you are not able to use the designation as a post-nominal title (e.g. John Lim, Associate CVA);
- receive preferential rates and invitations to members-only events.
Maintaining the Associate CVA Designation
You will need to adhere to the Code of Ethical Principles for Professional Valuers (PDF, 74.5KB), as advocated by the International Valuation Standards Council (IVSC), and the IVAS Disciplinary Rulebook (PDF, 780KB). Acceptance of the designation will be deemed as acknowledgement.
Annual Fee
An annual fee of SGD $200 (before GST) is payable on 1 April from the second year onwards upon conferment of the Associate CVA designation. A letter of conferment will be issued to Associate CVAs. You may choose to opt out of the Associate CVA designation by writing in to ivas@acra.gov.sg.
Contact Us
Should you have any queries, please contact us at ivas@acra.gov.sg.
Maintaining CVA
CVA Charter 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 Certification
CVA Certification will be terminated for CVA Charter holders who did not submit their certification renewal form, including making payment of their certification fees, after three (3) reminders from IVAS.
IVAS will make every reasonable effort to contact you before your CVA Certification is terminated. Please ensure you keep your contact information up-to-date with IVAS.
Withdrawal of CVA Certification
To withdraw your CVA Certification, kindly write in your request to ivas@acra.gov.sg.
Upon termination / withdrawal of CVA Certification, your name will be removed from the list of CVA Charter Holders on the ACRA website, and you would no longer be entitled to use the CVA designation.
Reinstatement of CVA Certification
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Time Period |
Requirements |
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Within three (3) financial years from year of termination / withdrawal |
1) Pay a processing fee of SGD $120 (before GST); 2) Pay all certification fees for the years that certification was terminated / withdrawn; and 3) Fulfil all CPD requirements for the years that certification was terminated / withdrawn. |
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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 Certification. |
IVAS Disciplinary Process
CVA Charter 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 Charter 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 Charter holder.
Before you make a complaint, please note:
• Complaints can be filed against individual CVA Charter holders, not against companies or employers of CVA Charter 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 Charter 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’ decision on the investigation is final.
