Town planners review Fellows selection criteria, advise aspirants to brace up
ESVARBON urges finance institutions to adopt Valuation Reporting Template
Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON) has urged financial institutions and agencies of government to adopt its newly published Valuation Reporting Template which will serve as a guide to conforming with international valuation standards in Nigeria.
The board made this call at the launching of three books it published recently including Code of Professional Conduct for Estate Surveyors and Valuers & its Explanatory Notes; The Valuation Reporting Template; and Competency Framework for Registered Estate Surveyors and Valuers.
ESVARBON, the regulatory body for the estate surveying and valuation profession,was established by Estate Surveyors and Valuers Registration Act Cap E13 LFN 2007 to regulate and control the practice of the profession in all its ramifications, and it is in furtherance of this mandate that the board published and launched the books as professional guide to meet international standard in all ramifications.
William Odudu, the board chairman, noted that “these books are regulatory nuggets from the stable of ESVARBON to promote ethical conduct, competency and global best practices in the practice of estate surveying and valuation profession in Nigeria”.
He added that the gap hitherto provided by the absence of a code of ethics, rules and regulations in the conduct of estate surveying and valuation services have, unwittingly, offered a channel for quackery and sharp practices to rear their ugly heads in the practice of this profession”.
Valuation, he said, was a highly distinctive aspect of estate surveying and valuation, advising that it was imperative that conformity with international valuation standards be maintained and sustained, and that ‘The Valuation Reporting Template’ was written to fill this need.
“We are bolstering up efforts at making sure that all financial institutions and agencies of government adopt and put in place the framework as the minimum reporting format for their valuations. Pursuant to powers conferred on it by its enabling Act, ESVARBON has followed up and has, presently, a Federal Government Gazetted copy of its Rules and Regulations.
“To further monitor and control the practice and ensure professionalism, the Code of Professional Conduct for Estate Surveyors and Valuers & its Explanatory Notes is produced by the Board. The Code gives practitioners access to ethical values and professional conduct expected of them”, he said.
Odudu stressed that estate surveying and valuation services required exercise of technical skills, appropriate professional knowledge and experience, noting that the need to curb the activities of quacks and to widen public understanding of the attributes of estate surveyors and valuers informed the decision to publish ‘Competency Framework for Registered Estate Surveyors and Valuers’.
He hoped that these books would enhance the delivery of credible and competent professional services to the public, urging all concerned to adopt the guidelines highlighted in the books in discharging their statutory responsibilities in estate surveying and valuation.
The reviewer of the books, Akin Olawore said the books would afford practitioners the necessary guide to practice the profession diligently, effectively and efficiently with integrity. “We cannot afford to do valuation on assumption or make previous mistakes; one of the books will provide uniform valuation reporting, and anyone doing it below the standards can be reported to the Board”, he said.
The first vice President of Nigerian Institution of Estate Surveyors and Valuers (NIESV), Joshua Patunola-Ajayi, who was one of the Co-Launchers, applauded the Board for deeming it fit to produce the books and implored the practitioners to comply with the provisions of the books.
Patunola-Ajayi explained that it was necessary for members to have documented standard valuation framework that meets international standard, competency framework and code of conduct that guides them in discharging their responsibilities with best global practice in the profession.