Australia’s professional valuers now have an updated national standard for valuation reporting that establishes clearer expectations around transparency, disclosure, methodology and professional accountability, strengthening confidence in valuation advice relied upon by clients, courts, insurers, regulators and government.
Following extensive member consultation, the Auctioneers and Valuers Association of Australia (AVAA) has released the updated AVAA Professional Standard 6 – Minimum Valuation Report Requirements. The updated document reflects evolving professional expectations and establishes a more comprehensive framework for the preparation of valuation reports by AVAA Certified Valuers (CVAu).
The Standard sets out nationally consistent minimum requirements for valuation reports across a diverse range of asset classes including fine art, antiques, collectables, vehicles, machinery, goods and equipment. Importantly, it defines the core components expected within a professional valuation report, including compliance statements, valuation certificates, client instructions, valuation dates, asset identification, valuation methodology, assumptions, valuation conclusions and professional certification.
The AVAA Professional Standard 6 – Minimum Valuation Report Requirements recognises that valuation reports are relied upon for significant commercial, legal, taxation, insurance and regulatory decisions. The framework therefore places strong emphasis on clearly documented reasoning, transparent analysis, disclosure of assumptions, independence and professional judgement. It also requires valuers to disclose any material use of artificial intelligence (AI) tools where they underpin valuation conclusions, reflecting the growing role of technology within modern valuation practice. The updated standard can be downloaded via the link below:
A key feature of the updated framework is the introduction of clearer compliance obligations. Valuers must confirm matters including their independence, relevant expertise, compliance with professional ethics requirements, whether inspections were undertaken, whether professional assistance was used in preparing the report, and whether any AI tools materially informed the valuation determination.
The Standard is also broadly aligned with recognised international valuation principles, including internationally accepted approaches to valuation reporting and disclosure. It establishes minimum expectations while recognising the importance of professional judgement in responding to the technical, legal and commercial context of individual valuation assignments.
The release of the updated version of AVAA Professional Standard 6 – Minimum Valuation Report Requirements further highlights the importance of engaging an AVAA Certified Valuer (CVAu). Clients increasingly seek assurance that valuation reports are prepared within a recognised professional framework that emphasises competency, transparency and accountability. Professionals holding the AVAA Certified Valuer (CVAu) credential demonstrate a commitment not only to technical expertise, but also to the reporting and disclosure standards expected by modern clients, regulators and the broader marketplace.
For consumers, businesses and government, the use of an AVAA Certified Valuer (CVAu) provides greater confidence that valuation advice has been prepared in accordance with clearly articulated professional expectations. In a market where valuation outcomes can materially influence financial and legal decisions, the updated Standard strengthens consistency, credibility and trust across the valuation profession.
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Interested In Finding Out More?
If you’re interested in finding out more about AVAA Professional Standard 6 – Minimum Valuation Report Requirements, send an email to standards@avaa.com.au or telephone 1300 928 165. You can also stay up to date by following AVAA on LinkedIn, X/Twitter and Facebook.
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