‘I am pleased to announce that the Australian Valuers Institute Professional Standards Scheme has been recognised under Commonwealth legislation,’ the Minister for Revenue and Assistant Treasurer, Peter Dutton, said today.
The Australian Valuers Institute scheme formalises risk management practices including continuing education and training and complaints handling, leading to improved outcomes for consumers.
In return, members of the scheme have their occupational liability capped. Capped liability ensures that professional indemnity premiums remain affordable.
‘I am satisfied that the Australian Valuers Institute scheme meets the aims of professional standards legislation to improve professional standards and consumer protection as well as to maintain affordable levels of professional indemnity insurance,’ Minister Dutton said.
‘I congratulate the Australian Valuers Institute for its commitment to improve the professional standards of its members.’