Certificate of Practice (COP)
COP Training for Registered Valuer Members of ICAI RVO
As per Clause (c) and (e) of sub rule (2) of Rule 12 of the Companies (Registered Valuers and Valuation) Rules, 2017, the Registered Valuers Organisation shall be recognized if it “conducts training for the individual members before a Certificate of Practice issued to them” and “provides for continuous education of individuals who are its members”. Therefore, to abide by the said rules, the Insolvency and Bankruptcy Board of India (“IBBI”) has mandated a mandatory COP training of 6 to 8 hours for Registered Valuer Members.
Online Conduct of COP Trainings
In the wake of COVID-19, IBBI has allowed conducting COP Trainings online coupled with certain terms and conditions vide its circular https://ibbi.gov.in/legal-framework/guidelines. In pursuance of the guidelines and circulars issued by the IBBI, ICAI Registered Valuers Organisation (ICAI RVO) tries to conduct COP Training monthly, once the number of ICAI RVO Registered Valuers(RVs) seeking COP training reaches a minimum of 15. In case of higher demand, ICAI RVO may also conduct two COP sessions in a month.
The COP training session covers below mentioned topics:
i. Soft skills, manner, behaviour and conduct of the Registered Valuer
ii. IBBI Guideline on Use of Caveats, Limitations, & Disclaimers in Valuation Reports
Issuance of Certificate of Practice by ICAI RVO
The participant will be issued a Certificate of Practice basis the attendance criteria laid out by ICAI RVO
A participant may not be issued a Certificate of Practice Training in the given circumstances:
i. Fees have not been reconciled on the basis of the documentary proof/number shared by the participant; the Certificate will be held till the payment can be traced.
ii. A participant registered but did not attend the session.
iii. The participant was logged in but inactive throughout the session.
The Registered Valuer of ICAI RVO can undertake Valuation Assignments only after getting the Certificate of Practice from ICAI RVO.