Our Code of Conduct
SMART Valuations takes its professionalism and conduct seriously.
SMART Valuations, its employees and contractors shall abide by the following Code of Practice at all times:
- SMART Valuations will treat client information as confidential and will neither take personal advantage of privileged information gathered during an assignment nor enable others to do so.
- We will at all times, be aware of and comply with all confidentiality and privacy laws and regulations applicable in a valuation
- We will, at all times, act in good faith with regard to the legitimate interest of the client and the use of confidential information and in the communication of assignment results.
- We will not disclose confidential information or assignment results prepared for a client to anyone other than the client and persons specifically authorised by the client; state enforcement agencies and such third parties as may be authorised by due process of law; or a duly authorised professional peer review committee except when such disclusure to a committee would violate applicable law or regulation.
- SMART Valuations will perform assignments with impartiality. We have objectivity and independence, and will not accommodate any personal interest from any assignment. In valuation practise, we will not advocate the cause or interest of any party or issue.
3. Unrealistic Expectations & Capability
- SMART Valuations will refrain from encouraging or suggesting unrealistic expectations or promising clients that benefits are certain from specific management consulting services.
- The consultants will accept only assignments for which we have the skills and knowledge to perform.
- SMART Valuations will disclose any lack of knowledge and/or experience to the client before accepting the assignment, take all necessary steps appropriate to complete the valuation competently, and describe the lack of knowledge and/or experience and the steps taken to complete the assignment competently in the report.
- We will not accept an assignment that includes the reporting of a predetermined opinion or conclusion.
- We will not communicate assignment results in a misleading or fraudulent manner. We will not use or communicate a misleading or fraudulent report or knowingly permit an employee or other person to communicate a misleading or fraudulent report.
- We will not use or rely on unsupported conclusions relating to characteristics such as race, colour, religion, national origin, gender, marital status, family status, age, receipt of public assistance income, handicap, or an unsupported conclusion that homogeneity of such characteristics is necessary to maximise value.
4. Commissions / Financial Interests
- SMART Valuations will not accept commissions, remuneration nor other benefits from a third party in connection with recommendations to a client.
- We will disclose any financial interest in goods or services which form part of such recommendations.
- SMART Valuations does not accept payment of undisclosed fees, commissions or things of value in connection with the procurement of a valuation.
- SMART Valuations does not accept compensation for performing an assignment when it is contingent upon: (a) the reporting of a predetermined result, (b) a direction in valuation results that favors the cause of a client, (c) the amount of a value opinion, (d) the attainment of a stipulated result, or (e) the occurrence of a subsequent event directly related to the valuers’ opinions and specific to the assignment’s purpose.
5. Conflicting Assignments
- SMART Valuations will avoid acting simultaneously in potentially conflicting situations without informing all parties in advance that this is intended.
6. Conferring With Client
- SMART Valuations will ensure that before accepting any engagement, a mutual understanding of the objectives, scope, work plan and fee arrangements has been established and that any personal, financial or other interests which might influence the conduct of the work have been disclosed.
- SMART Valuations will refrain from inviting an employee of a client to consider alternative employment without prior discussion with the client.
- SMART Valuations will maintain a fully professional approach in all dealings with clients, the general public and fellow members.
9. Other Consultants
- SMART Valuations will ensure that other consultants carrying out work on behalf of them are conversant with and abide by this code.