The Institute of Valuers and Appraisers, Singapore (IVAS), set up by SAC to develop Singapore into a centre of excellence for Business Valuation, oversees the development of the CVA programme. IVAS will work with NTU on maintaining the quality of the CVA programme and increasing the number of CVA Charter holders over the next five years. A joint Learning and Assessment Working Group has been set up to review and constantly advance the CVA curriculum and examinations. New initiatives will include a refresh of the learning materials; the implementation of onsite e-examinations in Singapore; and the option of implementing such e-examinations overseas.
Mr Harsha Basnayake, IVAS Council Chairman and Deputy Area Managing Partner for EY for Asia Pacific Area, said, “This collaboration is a critical next step for IVAS’ commitment to maintaining a world class qualification for Business Valuers in Singapore. The need for Business Valuers has become far more critical today not just in the corporate finance field but also in financial reporting, dispute resolution and broader themes such as sustainability, long term value and inclusive capitalism that are incredibly important topics for businesses. The CVA programme has a robust curriculum with a strong practical orientation designed to provide technical knowledge, high professional standards and build competencies for existing and aspiring Business Valuers.”
Professor Low Buen Sin, Associate Dean of Executive Education, Nanyang Business School, NTU, said, “As a leading business school in one of Asia’s most comprehensive research-intensive universities, NBS is pleased to contribute to this partnership through thought leadership and industry-relevant education to deepen the knowledge and competencies of Business Valuation professionals. We look forward to continue working closely with IVAS and SAC to further strengthen the quality, prestige and reach of the CVA programme to meet the growing industry needs in Singapore and the region.”
The expansion of this collaboration is timely in view of Singapore’s vision to become a global hub for Intangible Assets (IA) and Intellectual Property (IP) activities through Singapore IP Strategy 2030 (SIPS 2030). Additionally, more companies are integrating ESG into their business strategy to create long-term value. These developments present opportunities for the Business Valuation profession as enterprises seek to value their IA and IP assets. Singapore will set up IA and IP valuation guidelines and grow the pool of valuation experts to provide credible valuations.
Mr Evan Law, Chief Executive, SAC, said, “Together with NTU, we will continually develop the required Business Valuation expertise through the Chartered Valuer and Appraiser programme to meet the rising market demand for the valuation of Intellectual Property, Intangible Assets and ESG factors which are driving the value of businesses in today’s digitalised business environment.”
The CVA Programme was set up in 2016. It is the national certification for the practice of Business Valuation in Singapore; and it is the first Business Valuation certification programme in Asia that complies with international standards set by the International Valuation Standards Council (IVSC), the global standards setter for valuation. To date, the programme has seen more than 760 candidates with more than 240 graduates; and over 200 CVA Charter holders in Singapore and the region.
For more information on the CVA programme, click here.