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# General Standards
General Standards apply to all valuations.
Valuation Framework Scope of Work Bases of Value Valuation Approaches Data and Inputs Valuation Models Documentation and Reporting
#Valuation Framework
Valuer Principles
Ethics Competency Compliance Professional Scepticism Valuation Process Quality Control Use of a Specialist or Service Organisation Effective Date#Valuer Principles
Our Standards
Ethics
The valuer must follow the ethical principles of integrity, objectivity, impartiality, confidentiality, competence, and professionalism to provide a non-biased valuation and to promote and preserve the public trust.
Competency
The valuer must have the technical skills, knowledge and experience required to appropriately complete a valuation.
Compliance
The valuer must disclose were used for the valuation and that they complied with those standards in performing the valuation.
Professional Scepticism
The valuer must apply an appropriate level of professional scepticism at every stage of the valuation.
Valuation Process Quality Control
There must be valuation process quality controls (“the controls”) around
the valuation process.
The controls help ensure that valuations are performed objectively,
transparently.
Use of a Specialist or Service Organisation
If the valuer does not possess the necessary technical skills, experience, data or knowledge to perform all aspects of a valuation, it is acceptable for the valuer to seek assistance from a specialist or service organisation, providing this is agreed and disclosed.
Compliance
the valuation must meet the requirements of the General Standards, the Appendices, as well as Asset Standards, if applicable.
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