OVERVIEW
About the programme
The Chartered Valuer and Appraiser (CVA) Programme is Asia’s first business valuation certification programme benchmarked against international standards. Developed by the Institute of Valuers and Appraisers, Singapore (IVAS), it is grounded in the competency, ethical, and professional requirements advocated by the International Valuation Standards Council (IVSC), the global standards setter for valuation.
Modules
CVA Programme Modules
The programme comprises of five modules and offers you flexibility in completing the first four modules (Module 1 to Module 4) . You can take Module 1 and Module 2 in any order or simultaneously, before proceeding to Module 3 and Module 4. You must pass Module 1 to Module 4 before taking the Capstone Module, which is case-based and application-focused.
This structure combines rigorous technical training with strong market-oriented practicality to prepare you for a successful career in business valuation.
Module 1 – Introductory Valuation
This module provides the foundational knowledge for every business valuation exercise.
Upon completion of this module, you will be able to:
- Describe the business valuation landscape and the future developments
- Identify the valuation standards applicable to business valuation
- Describe the competencies, role, behaviour and conduct of business valuers and the competency framework for professional valuers
- Discuss the valuation context and the role that business valuation plays in the financial and corporate world
- Differentiate various terms, bases and premises of value and their implication to the valuation outcome
- Explain the key concepts of accounting and finance relating to business valuation
- Apply the principles of business valuation
- Describe and adopt a valuation process which is acceptable in a transactional and/ or financial reporting environment; and prepare a credible and professional business valuation report
- Describe and adopt the best practices in preparing prospective financial information
Module 2 – Law and Valuation
This module covers how a business valuation exercise is conducted within the legal and regulatory framework.
Upon completion of this module, you will be able:
- Describe the role and duties of business valuers in the context of civil litigation and arbitration proceedings
- Describe key aspects of the Singapore legal framework for dispute resolution
- Explain the key characteristics of various business forms for doing business and distinguish one form from the other
- Distinguish the type of ownership interests associated with each form for doing business
- Identify the key areas of law where valuation may be required, primarily in the context of disputes which arise in the relevant area of law
- Identify the main legal principles governing specific remedies for various causes of action which may affect how the issue of valuation should be considered
- Identify the legal obligations and potential liability that business valuers may be subject to in the course of their work
Module 3 – Valuation for Transactions
Learning outcomes:
- Compare and contrast open market and notional valuation, share market and corporate valuation as well as public listed and private companies’ shares
- Implement International Valuation Standards and guidelines, including the International Private Equity Valuation (IPEV) and Intangible Assets valuation guidelines, used for the conduct of business valuation for transactions
- Implement various valuation approaches to the valuation of business and equity, covering in depth: the market, income and asset-based approaches, their relevant methodologies as well as the valuation parameters associated with them
- Identify the various technical and practical issues involved in the application of the various valuation approaches and methodologies, and the pros and cons of adopting such approaches and methodologies when conducting business valuation
- Identify the principles behind the valuation of public listed companies, understand its context, including securities and exchange regulations on business valuation carried out in the public domain
- Identify the principles behind the valuation of private companies, understand its context, including the types of discounts and premium and the circumstances that warrant their application
Module 4 – Valuation for Financial Reporting
This module examines key financial accounting and reporting issues related to the use of fair value measurement.
Upon completion of this module, you will be able to:
- Explain the definition of fair value in IFRS 13 for financial reporting purposes, and its differences with other bases of value in the International Valuation Standards (IVS)
- Identify and demonstrate the use of fair value measurement framework in IFRS 13 to financial and non-financial assets and liabilities
- Implement the acquisition method in the accounting for business combinations as per IFRS 3
- Implement common valuation methods to value various types of intangible assets
- Examine and implement the impairment testing process for assets including goodwill
- Identify the differences between fair value in IFRS 13 and other valuation bases used in financial reporting
- Identify the roles and responsibilities of a business valuer in a financial reporting environment, including considerations when engaged by an audit client or as part of an audit team
Capstone Module – Applied Valuation
This Capstone module applies a blend of theory and practice of all concepts covered from Module 1 to Module 4 and examines your understanding and appreciation of the complete valuation engagement.
Upon completion of this module, you will be able to:
- Understand how valuation is significantly affected by the structure of entities and business
- Understand how to determine the valuation of a company in different stage of life cycle
- Consider the valuation uniqueness of five specialized industry: (a) Technology, Media and Telecom; (b) Biotechnology; (c) Healthcare; (d) Resources and Renewables; and (e) Financial Services
- Consider valuation challenges posed by companies operating in emerging markets and how they impact their valuation
- Understand the impact of Environmental, Social and Governance (ESG) factors on valuation
- Consider the challenges and the impact on valuations arising from Black Swan situations
- Understand how to produce a valuation report in accordance with IVS
Programme AIMS
CVA Programme Aims
Insights
- Gain a comprehensive understanding of the standards, conceptual framework, valuation process for various approaches, and practical insights and methodologies to perform quality valuation.
- Upon successful completion of the programme and with relevant years of work experience, you can apply to IVAS to be certified as a Chartered Valuer & Appraiser (CVA), a prestigious title that has gained regional recognition.
- Demonstrate professional competence and integrity as a certified CVA holder and earn the trust and confidence of your employers and clients.
Flexible Learning Routes
Participants may select either the structured or self-study route according to their learning style and availability.
Structured Learning Route
For individuals who prefer a more disciplined approach of attending scheduled classes and interacting with faculty, industry practitioners and coursemates.
Self-Study Route
For individuals who prefer a self-starter approach with the flexibility of studying at their own pace before sitting for the assessment.
Note: You may choose to switch from self-study route to structured route but not vice-versa, subject to seat availability.
Structure
CVA Programme Structure
To achieve the The Chartered Valuer and Appraiser Programme (CVA), participants will need to complete the following modules
- Module 1: Introductory Valuation
- Module 2: Law and Valuation
- Module 3: Valuation for Transactions
- Module 4: Valuation for Financial Reporting
- Module 5: Capstone – Applied Valuation
Eligibility
CVA Programme Eligibility
CVA Programme Admission
To be eligible for the CVA Programme, you must meet the following requirements:
- Hold a bachelor’s degree or equivalent qualification in any field from a recognised institution
- Demonstrate proficiency in written and spoken English, including presentation skills
- Possess foundational knowledge of accounting and finance (recommended but not mandatory)
LSBF Preparatory Course for the CVA Programme
LSBF offers an optional preparatory course to help you prepare for your CVA Programme module examinations. This course provides structured learning support and is designed for candidates who prefer additional guidance.
Who Should Consider the LSBF Preparatory Course
The LSBF preparatory course is suitable for CVA Programme candidates who:
- Prefer guided instruction from experienced trainers
- Seek additional learning support in preparing for module examinations
Enrollment Requirements
Before enrolling in the LSBF preparatory course:
- You must successfully apply for the CVA Programme through IVAS
- It is recommended to register for your module examinations first to receive the official IVAS learning materials before starting the preparatory course.
Fee
CVA Programme Fee Structure
Module 1 – Introductory Valuation
₹70,000
Module 2 – Law and Valuation
₹70,000
Module 3 – Valuation for Transactions
₹70,000
Module 4 – Valuation for Financial Reporting
₹70,000
Capstone Module – Applied Valuation
₹140,000
Tuition Fees
Enquire for details.
