sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
News Headlines »
 Income Tax Return filing 2018: Here are some important tips for you
 Change in Examination Venue in Thane, Zone – II, May 2018 Examinations
 Here’s all you need to know New Income Tax return for salaried class available on IT portal
 What to do if you missed the (second) tax deadline
 Income-tax (5th Amendment) Rules, 2018 - Notification under section 9A (3) of the Income-tax Act, 1961 in respect of Fund Manager Regime
 Income Tax department warns salaried class again filing wrong ITRs
 ITR-1 form for AY 18-19 now available for e-filing
 New Income Tax Return Form for Salaried Class available in Portal
 Income Tax Return: ITR-1 ready for e-filing, says I-T department
 6 Tax changes you need to keep in mind while filing ITR for FY17-18 Income Tax Return efiling
 Income-tax (5th Amendment) Rules, 2018

MoCA moots tough norms for valuers
May, 03rd 2007

The ministry of company affairs (MoCA) has recommended stringent guidelines for valuation professionals that are exclusively allowed to undertake the valuation of businesses, shares, brands and the like after being recognised by a proposed council.

A concept paper on a Valuation Professionals Bill, floated by the ministry (and reported by FE on Wednesday), stipulates stiff penalties for violation of the guidelines, including fines up to Rs 5 lakh and disbarment.
 
The penalties would be for professional misconduct in areas like due diligence, disclosure of confidential information, failure to report material misstatement and gross negligence. These areas have been defined in two schedules in the concept paper and cover a variety of situations and circumstances under which a valuation professional can attract censure.

Disclosure of information acquired in the course of professional engagement with any person other than a client or certifying a valuation report not made by him or by a partner would also be considered misconduct.

A valuer cannot express an opinion about a business or enterprise in which he, his firm or limited liability partnership may have substantial interest. Failure to draw attention to any material departure from generally accepted valuation procedures or failure to keep client money other than fees, remuneration, or money to be expended, in a separate banking account would also be deemed misconduct.

Many in the industry, however, feel it would be difficult to implement such guidelines. You cant standardise judgement call issues on valuations because all valuations tend to be different, says Gaurav Khungar, executive director (corporate finance), KPMG India.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Contact Us

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions