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(From South China Morning Post)
Byline: Enoch Yiu
The Hong Kong Institute of Surveyors yesterday issued draft standards for business valuation for consultation, in a bid to bring more credibility to the profession after a series of high-profile scandals involving over-valuation of corporate assets.
Under the proposed code, all 3,000 members of the institute will need to follow standardised methods of valuing mainland and Hong Kong companies.
Surveyors would be expected to quantify income, share value and assets using a standardised methodology, to a specified level of detail and in an objective format that meets international norms. …