Published Date: 29 June 2022

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.