Understanding Valuation and Auction Compliance – ARITA Journal

AVAA President, Tim Slattery, penned a fantastic article in the July ARITA Journal, titled “Understanding Valuation and Auction Compliance.

This comprehensive article highlights the risks associated with not using a compliant and ethically obliged auctioneer and valuer.

Seller beware! How to protect yourself

Valuation and auction compliance in a nutshell:

  • The valuation and auction industry of chattel goods in Australia is almost entirely unregulated.
  • Auctioneers of chattel goods are not required to maintain trust accounts for your funds except in Queensland.
  • There are no qualification requirements to be a valuer of chattel goods or requirements to hold professional indemnity insurance.
  • Valuers are not required to meet any formal regulatory standards with their reports.

Read the entire article here.

Remember: An excellent way to ensure you’re engaging an auctioneer or valuer of high standing and protected from the above risks is to choose a member of the Auctioneers and Valuers Association of Australia (AVAA).

ABOUT AVAA:

The Auctioneers & Valuers Association of Australia is committed to ensuring the highest standards of professionalism and sound practice in the fields of auction and valuation.

ABOUT ARITA JOURNAL:

The Australian Restructuring Insolvency & Turnaround Association Journal is the quarterly publication for restructuring, insolvency and turnaround professionals in Australia.

For more information please email natsec@avaa.com.au.

2019-08-21T10:35:43+00:00August 21st, 2019|Announcements, Legislation|