Stan­dar­d­is­ing Val­u­a­tion a chal­lenge says FIV Pres­i­dent

The main aim of the Fiji In­sti­tute of Val­u­a­tion is to make land ac­ces­si­ble and af­ford­able and se­cure for all Fi­jians

Fiji Sun - - Business - KATHRIN KR­ISHNA SUVA EDITED BY: NAISA KOROI Feed­back: kathrin.kr­ishna@fi­jisun.com.fj

The Pres­i­dent of the Fiji In­sti­tute of Val­u­a­tion, Solo Nata, said adop­tion of the In­ter­na­tional Val­u­a­tion Stan­dard will ben­e­fit the in­sti­tu­tion as stan­dar­d­is­ing was one of the chal­lenges they had been fac­ing. “Stan­dar­d­is­ing our val­u­a­tion has been one of the chal­lenges the in­sti­tute has been fac­ing for some years now and we have adopted the In­ter­na­tional Val­u­a­tion stan­dards, ”Mr Nata said.

“Our cur­rent fo­cus is the in­ter­na­tional val­u­a­tion stan­dard be­ing adapted as we need to prac­tice it,” he said. “We need to stan­dard­ise with the global stan­dards be­cause when we do, we take away the in­con­sis­ten­cies and ques­tion­able val­u­a­tion.” He added it was im­por­tant to be con­scious and aware of the trends in terms of the growth in what­ever sec­tor, like res­i­den­tial, tourism, com­mer­cial and other key sec­tors. “Some­times we come across is­sues like un­der­val­u­a­tion or over val­u­a­tion but what we should be do­ing is fair val­u­a­tion, ”Mr Nata said. “While we con­tinue to up­hold ethics, con­duct­ing stan­dards, we must en­sure that we are fair to our clients.” Mr Nata also high­lighted Fi­jians should work to­gether in sup­port­ing eco­nomic growth with the Govern­ment. “We should also sup­port the prop­erty and the es­tate man­age­ment in the most eth­i­cal con­duct as this is very im­por­tant for Fiji.”

The Fiji In­sti­tute of Val­u­a­tion con­fer­ence was themed: The Trend­ing Prop­erty Mar­ket in Fiji- Starte­gies to man­age and ad­dress growth.

It was held at the Pearl Re­sort in Pa­cific Har­bour. The Val­u­a­tion con­fer­ence is an yearly event for peo­ple who are in the val­u­a­tion sec­tor mainly in the prop­erty mar­ket to dis­cuss is­sues sur­round­ing the val­u­a­tion in­sti­tute. The main aim of the Fiji In­sti­tute of Val­u­a­tion is to make land ac­ces­si­ble and af­ford­able and se­cure for all Fi­jians.

The Pres­i­dent of Fiji In­sti­tute of Val­u­a­tion, Solo Nata.

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