The eyes of the world have been on Hong Kong for very different reasons than business valuation. Nevertheless, efforts are underway to develop a sorely needed set of accepted technical and professional standards for valuation work there. Previous attempts to create a professional body for business valuation in Hong Kong have failed, resulting in a wide disparity in the quality of valuation work. The “Hong Kong Business Valuation Quality Initiative” is a proposed “standards and professionalism framework” to support improved business valuation practices in Hong Kong. The document contains 14 questions for feedback and comments that are due by November 15. Developed by the International Valuation Standards Council (IVSC) and partner organizations, the framework is the result of extensive engagement with stakeholders across the business valuation and related sectors in Hong Kong as well as regulators, professional bodies, and business chambers. The link above gives you access to the proposed standards and instructions on submitting comments.
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