In a move to regulate the valuation business,the government is expected to introduce a Valuation Professional Bill in the upcoming monsoon session of parliament.
The Bill would endeavor to create a council of valuation professionals who would train the professionals,set standards and issue qualifying norms.According to a concept paper by ICAI,ICWAI and ICSI it will comprise of two members from each of these bodies and five other members from government entities.
This move has invited much criticism from the community of valuation business, who have a mixed view about this.Some of them claim that people working in the field have already studied these subjects thoroughly while the others welcomed the move saying that it would draw the line,and ensure that they acted responsibly.
Read the Mint article:
Chartered accountants oppose regulation move
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