To conceive of and suggest areas in which ICAI Valuation Standards need to be developed.
To formulate ICAI Valuation Standards with a view to assist the Institute in evolving and establishing Valuation Standards in India.
To engage with ICAI Registered Valuers Organisation for adoption of Valuation Standards formulated by the Institute.
To examine the extent upto which, ICAI Valuation Standards are to be aligned with globally accepted valuation practices and policies.
To review periodically the ICAI Valuation Standards in view of changed conditions, and, if necessary, revise the same.
To engage with and contribute to International bodies to support them in framing/ development of Valuation Standards and principles.
To provide Interpretations, Guidance and Technical Materials on ICAI Valuation Standards from time to time.
To invite experts (individuals or institutions) from the field of Valuation for formulating ICAI Valuation Standards or preparing Guidance Notes.
To interact with Government and Regulators on issues related to implementation of ICAI Valuation Standards and to propagate use of Indian Valuation Standards in preparation of financial statements, which are both general purpose or specifically prepared for a regulatory requirement. For eg., Income Tax Act, RBI/ SEBI etc.
To deal with industry-specific issues and interact with national and international bodies on issues in implementation of ICAI Valuation Standards.
To take adequate steps to enhance knowledge of members and other stakeholders for proper implementation of ICAI Valuation Standards by conducting workshops, seminars, Courses in India and abroad, and train the trainers programmes.
To co-ordinate with Direct Taxes Committee, Indirect Taxes Committee and Corporate Laws & Corporate Governance Committee and other Committees of the Institute with regard to various issues in ICAI Valuation Standards.
To explore international and domestic opportunities for members in the area of Valuation Standards.
To interact with Government, to take leadership role in regulation of Valuation Professionals.
To deal with any other tasks related to implementation of ICAI Valuation Standards