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M21083 -Property Valuations: Dealing with the Perit (Online)

  • 10 Nov 2021
  • 13:30 - 16:45
  • Online Webinar

Registration


Register
Registration Time: 13.15
Session Time: 13.30 - 16.45 incl 15min break
Speaker: Ing.Justin Mizzi
Venue: Online Webinar 

Participation Fees (The Institute is now accepting payments via Paypal)
MIA Members: €40.00
Non-MIA Members: €75.00
Retired Members: €20.00
Students: €30.00
*Group bookings for 3 or more participants available.

BACKGROUND INFORMATION
“Property valuation may rightfully be designated as the heart of all real estate activity. In fact, valuation is the heart of all economic activity. Everything we do as individuals or as groups of individuals in business or as members of society evolves about and is influenced by the concept of value.” - Ring, 1970
Whilst the role of accountants in real estate valuation and advisory is growing, Periti remain the main profession to conduct valuations in Malta, being the official valuers for several purposes such as secured lending, insurance and all statutory purposes. As a result, accountants and auditors often consult with periti in property valuations, especially for financial reporting purposes and divisions, mergers and acquisitions.

OBJECTIVES OF THE SESSION

The main objective of this session is to create a better synergy between accountants/auditors with Periti so they can both provide a better service to their clients through more professional, transparent and detailed valuation reports in line with valuation standards and best practice.
In the first part of the session, we will discuss the valuation profession and sector, both locally and abroad. We will discuss the main valuation purposes in Malta and the different professions who value property in Malta with special emphasis on the Perit. We will investigate the role of the Perit in real estate valuations and advisory, their competences and limitations, including the limitations of valuing property in Malta.
In the second part of the session we will look into valuation standards and terms of engagements for property valuations, and discuss where they fit in in the full valuation process.

TOPICS ON THE AGENDA

  • The profession and sector: Property valuations globally and in Malta. A brief history of valuations in Malta leading up to the current context. Which professions value property in Malta? What are the limitations of valuing property in Malta?
  • The Perit as a valuer: What is a Perit? Where do they fit in in real estate valuation and advisory in Malta? For which valuation purposes are periti required to do valuations in Malta? What are the competences & limitations of Periti as a valuers? When do other professionals such as accountants and estate agents need to be roped in?
  •  Property valuation standards: What are they and what do they include? Which ones are used in Malta?
  • Understanding and defining the brief through a terms of engagements. What should a client and/or auditor/accountant consider when writing a terms of engagement for valuation services?

Target audience

  • Auditors and accounting professionals
  • Other users of real estate valuations such as Periti and estate agents
  • Members of Investment and Audit committees, CEOs, CFOs, Financial Controllers
  • Other clients of valuations such as property developers and investors.

Speakers profile

Justin Mizzi is an academic at heart who is passionate about real estate. He works as a property valuer at Archi+, an architecture firm based in Malta, and holds a Masters of Architecture and Conservation. He is currently working on a PhD on the valuation of commercial real estate in Malta.
Besides his studies and his role as a valuer, he collaborates with the Malta Chamber on the Investment Forum, provides his own private course on property valuations and is a part-time lecturer at Dhalia real estate services.

EVENT CPE COMPETENCES

3 Hour Core

WEBINAR TERMS AND CONDITIONS

Terms and conditions apply

DISCLAIMER

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