Get Certified in Business Valuation

Business Valuation is gaining prominence in Asia. The increasing demand for business valuation services is fuelled by:

  • the rise in merger and acquisition (M&A) activity,
  • Singapore's growth as a centre for litigation proceedings and arbitration,
  • growing importance of intellectual property in business and
  • the use of fair value measurement in the financial reporting framework.​

The Chartered Valuer and Appraiser (CVA) programme is the national certification for the practice of business valuation in Singapore and the first business valuation certification programme in Asia that complies with international standards. It provides a structured and formalised pathway aimed at raising the standards of ethics and professionalism among professionals who are involved in transactions, litigation and arbitration, and financial reporting. The programme instils in participants the technical competencies in valuation concepts, principles and applications as well as the approaches and methodologies for conducting valuation.


Benchmark to International Standards

The programme was developed in close consultation with industry practitioners from the accountancy, banking, legal and investment communities, based on the competency standards advocated by the International Valuation Standards Council (IVSC), the global standards setter for valuation.


Get Certified by Institute of Valuers & Appraisers, Singapore (IVAS)

Participants who successfully complete the programme and meet the requi​rements for relevant work experience may apply to Institute of Valuers & Appraisers, Singapore (IVAS) to become a certified Chartered Valuer & Appraiser (CVA).

Asia's 1st and only professional Business Valuation programme

Benchmark to international standards

Get ahead in your career with the recognised CVA credential


  • Gain a comprehensive understanding of the standards, conceptual framework, valuation process for various approaches, and practical insights and methodologies to perform quality valuation.
  • Upon successful completion of the programme and with relevant years of work experience, one can apply to IVAS to be certified as a Chartered Valuer & Appraiser (CVA), a prestigious title which has gained regional recognition.
  • Demonstrate professional competence and integrity as a certified CVA holder and earn the trust and confidence of your employers and clients.

“The Chartered Valuer and Appraiser programme is designed to hone the skillsets of individuals with an interest in valuing businesses and securities and will provide participants with the fundamental building blocks on the technical aspects of valuation. More importantly, the programme represents a key step towards moulding a community of like-minded persons who are devoted to a lifetime of learning and collaboration on the art and craft of valuation.”

Mr. Mah Kah Loon,
EY Asia-Pacific Deal Origination Partner, Ernst & Young Solutions LLP;
CEO, Ernst & Young Corporate Finance Pte. Ltd


"The Chartered Valuer and Appraiser programme provides a formal and structured professional development pathway for business valuers and over time, this will raise the bar for the level of proficiency and competency among professionals working in the accountancy sector. Business valuation will be an important area of growth in our region and Deloitte is delighted to support the CVA programme."

Mr. Keoy Soo Earn
Regional Managing Partner, SEA Financial Advisory, Deloitte


"The Business Valuation profession is driven by intellectual capital. Historically, there has been very little structured formal training available for Business Valuers. The Chartered Valuer and Appraiser programme is highly relevant for professionals involved in valuations as it equips them with the right skill set, knowledge and competencies to deliver distinctive value proposition. That is why Duff & Phelps works closely with IVAS as we strongly support their efforts to expand and deepen the pool of Business Valuation professionals.”

Ms. Srividya Gopalakrishnan
Managing Director and Southeast Asia Leader, Valuation Advisory Services practice, Duff & Phelps


"The legal profession regularly taps on valuers as expert witnesses for litigation and arbitration cases heard in Singapore. The launch of the Chartered Valuer and Appraiser programme by IVAS is timely as it will enable legal practitioners and their clients to assess the competency of expert witnesses. I believe this could be a significant enhancement to our dispute resolution processes. Over time, I am confident that the programme and the accompanying certification will raise the standards for the quality, professionalism and ethics in business valuation."


Ms. Rachel Eng
Managing Director, Eng and Co. LLC


To date, 17 professional industry partners have committed to sending participants to the programme. This is a strong message from the business valuation profession that the CVA programme has wide industry relevance.




  • Professionals with business valuation as their core function, such as business valuers ​who work in professional services or corporations.
  • Professionals whose core duty is not business valuation but need to deal with business valuation as part of their routine work. Typical participants include:
- Accountants
- External auditors
- Corporate & investment bankers
- Fund managers
- investment analysts

  • Professionals who have a strong interest in, or are affected by aspects of business valuation in the discharge of their duties, such as legal professionals, regulators and board of directors.

Admission Criteria:

- A Bachelor's Degree or equivalent in any field from a recognised institution.
- Recommended prior knowledge of accounting and finance.
- Writing, speaking, and presentation ability in English.

At any time, the Institute of Valuers and Appraisers, Singapore (IVAS) and Nanyang Executive Education Admissions Office reserve the right to accept or reject the application of any participant and the decision will be final.

Learning Routes:

Participants may select either of the structured or self-study route according to their learning style and availability.

Structured Learning Route
For individuals who prefer a more disciplined approach of attending scheduled classes and interacting with faculty, industry practitioners and coursemates.

Self-Study ​Route
For individuals who prefer a self-starter approach with the flexibility of studying at their own pace before sitting for the assessment.

Note: You may choose to switch from self-study route to structured route after completing a level but not vice-versa.


Programme Structure:

Targeted at the accountancy, financial and legal sectors, the curriculum is designed with an “outside-in” approach that starts with considering industry's evolving needs and perspectives.

The course of study is defined by logical progression in three successive levels:

 Learning Outcomes


Module 1: 
Introductory Business Valuation

Module 2: 
Law and Valuation

An introduction to the standards, terminologies, principles and processes in carrying out a Business Valuation exercise. Participants will get insights into the collection and analysis of both quantitative and qualitative information.

Participants will also understand best practices in preparing and forecasting financial information.


Module 3: 
Business Valuation for Transactions

Module 4: 
Business Valuation for Financial Reporting

Participants will learn the conceptual framework, the valuation process for various approaches, and practical insights and methodologies used in estimating the value of businesses and intangible assets.

In addition, participants will understand purchase price allocation exercise, and be able to perform impairment testing of goodwill and intangible assets in accordance with financial reporting standards.


Module 5: 
Applied Business Valuation

Module 6:
Business Valuation Case Study, Ethics and Professionalism

Participants will learn how to apply the concepts, methodologies and approaches taught in the previous two levels. Participants will also understand the professional expectations of a valuer, and practice standards to adhere to for a career in Business Valuation.


More details can be found in the  Curriculum for CVA Programme here.

The programme includes an assessment at the end of each level. There will be a total of three assessments for the full programme. Participants must successfully pass the assessment at each level to progress to the next level.


You are strongly encouraged to complete the programme within 3 years from the date of enrolment. You can only request for deferment once throughout the course of study, and any deferment/withdrawal is considered strictly on a case-by-case basis.

Please note that all deferment/withdrawal requests are subject to approval and must be submitted in writing to at least 2 months before the exam date/class start date.

Intake 11 - Starts on 14 August 2021

Structured Route - Application is open and will close on 18 July 2021
Self-study Route - Application is open and will close on 10 September 2021

INTAKE 11 (Structured Learning Route) 
Module 1 

14 August 2021 (Full day)
21 August 2021 (Full day)
04 September 2021 (AM)

Module 2

11 September 2021 (AM)
25 September 2021 (AM)
09 October 2021 (AM)
16 October 2021 (AM)

Assessment (Exam)20 November 2021


Classes are typically conducted on Saturdays in a face-to-face classroom setting unless otherwise stated.
Full day session: 9am - 5pm
AM session: 9am - 1pm

NTU@one-north, Executive Centre
Address: 11 Slim Barracks Rise (off North Buona Vista Road), Singapore 138664

MRT: Buona Vista Station (Exit D)

Nanyang Executive Education and The Institute of Valuers and Appraisers, Singapore reserve the right to change the date, venue and mode of delivery due to unforeseen circumstances or prevailing government advisory.

Intake 12 will be opened for registration around end September / early October 2021. Meanwhile, we welcome your enquiries and encourage you to indicate your interest early via

 Structured Learning RouteSelf-Study Route
One-time application ​fee
S$ 100S$ 100
Annual candidature fee
(payable on every 1st Jan)
S$ 100 per yearS$ 100 per year
​Programme fee

S$ 18,000
(all 3 levels)

S$ 6,000
(per level)

S$ 6,000
(all 3 levels)

S$ 2,000
(per level)

Re-assessment fee
(per level)​
S$ 400S$ 400

All fees quoted above are in Singapore Dollars and exclude 7% Goods & Services Tax (GST).

*Please note that:
1. The one-time application fee and annual candidature fee are non-refundable.
2. Payment of the application fee does not grant automatic acceptance into the CVA Programme. Acceptance into the Programme will be determined after verification of the applicant’s eligibility. 



Structured Learning Route

Structured Learning Route
 Fees per Level
BEFORE funding & GST
Fees per Level
AFTER funding & GST
Singapore Citizens (aged 21-39) / PR (aged ≥21)
70% Funding
​S$ 6,000S$ 1926
Singapore Citizens (aged 40)
MCES1 - up to 90%
​S$ 6,000​S$ 726
SME-sponsored Singapore Citizens / PR
ETSS2​ - up to 90%
​S$ 6,000​S$ 726
Participants without funding​S$ 6,000​S$ 6,420


Self-study Learning Route
 Fees per Level
BEFORE funding & GST
Fees per Level
AFTER funding & GST
Singapore Citizens (aged 21-39) / PR (aged ≥21)
70% Funding
​S$ 2,000S$ 642
Singapore Citizens (aged ≥40)
MCES1 - up to 90%
​S$ 2,000​S$ 242
SME-sponsored Singapore Citizens / PR
ETSS2​ - up to 90%
​S$ 2,000​S$ 242
Participants without funding​S$ 2,000​S$ 2,140

1. Under the SkillsFuture Mid-career Enhanced Subsidy (MCES) scheme. For more information, visit the SkillsFuture website here
2. Under the Enhanced Training Support for Small & Medium Enterprises (ETSS) scheme. For more information, click here.

SkillsFuture Credit 
Singapore Citizens, aged 25 and above, and self-sponsored, may use their SkillsFuture Credit to defray part of the net course fee. Participants can submit their SkillsFuture Credit claims by logging in Please click here for “How do I submit a claim for SkillsFuture credit?” and other FAQs.

Participants do not need to contact SkillsFuture or SkillsConnect for funding prior to course registration. NTU will handle the funding paperwork for both self and company-sponsored participants. Participants will be invoiced the net amount after funding and GST.


Click here to see programme, assessment and funding related questions.





"The Chartered Valuer and Appraiser Programme has equipped me with the specialised knowledge and constructive methodologies for a firm foundation on business valuation. Through the CVA programme, I have not only acquired a deep understanding of the business and financial valuation process, but also built up my confidence in using this process to make better informed business decisions."

Gail Shan
Portfolio Management Director
Iron Lotus Advisory


“The CVA programme has enriched my understanding of valuation issues. The breadth of topics covered in the programme only underscores the importance of valuation in the corporate business environment. It also enabled me to build wide contacts with different practising leaders who teach in the programme as well as like-minded professionals."

Nicholas Cheong
Vanden Advisory Pte Ltd


“Though an engineer by training, I have been leading all valuation work in my company for the last 7 years as the M&A leader. As I had no formal academic training in this area, I wanted to build a more solid technical grounding by taking the CVA programme that was launched by IVAS and conducted by a reputable university such as NTU. Through this programme, I picked up the theories, ethics and professional standards of valuation which would add the robustness in a valuation exercise. Having a recognised finance credential like the CVA, not only complemented my engineering expertise, but also added depth and breadth to my career.”

Shao Kwan Kiat
Senior Director, Strategic Development

For more information on the programme, please contact:

Jessica Leong
Deputy Director
Nanyang Executive Programmes, Nanyang Business School
Telephone: (65) 6904 7249

Eugene Thiang
Senior Associate Director
Singapore Accountancy Commission
Telephone: (65) 6325 0518