Valuation - Professional Standards Flashcards
What is the first exception to the requirement to use the Red Book Global?
Advice is expressly provided in preparation for, or during course of negotiations or litigation
Example sentence: This exception applies when advice is given during legal proceedings.
What is the second exception to the requirement to use the Red Book Global?
The valuer is performing a statutory function except for the provision of a valuation for inclusion in a statutory return to a tax authority
No additional information.
What is the third exception to the requirement to use the Red Book Global?
The valuation is provided for a client purely for internal purposes, without liability, and not communicated to any third party
No additional information.
What is the fourth exception to the requirement to use the Red Book Global?
The valuation is provided as part of agency and brokerage work in anticipation of receiving instructions to dispose of, or acquire, an asset, except when a purchase report is required which includes a valuation
No additional information.
What is the fifth exception to the requirement to use the Red Book Global?
The valuation advice is provided in anticipation of giving evidence as an expert witness
No additional information.
