CFC 01/2022 Appointment of same independent valuer for performing desktop valuation in respect of interim financial reporting under Financial Reporting Guidance 3
This circular waives the requirement under paragraph 8.3(e) of Appendix 6 to the Code on Collective Investment Schemes to facilitate the preparation of interim financial statements in accordance with Financial Reporting Guidance 3. In particular, a REIT may appoint a valuer who had valued a property of the REIT for the past two consecutive financial years to perform a desktop valuation of the same property for the purposes of interim financial reporting in the third financial year. More details can be found in the circular.
Sets out the best practices that managers, approved trustees, VCC directors and VCC custodians of collective investment schemes offered to retail public are expected to observe on management, operation and marketing of the schemes.