Code of Ethics & Professional Conduct

1. Purpose and application

This Code sets out the ethical principles and rules of conduct that apply to all members of the Australian Institute of Quantitative Valuation (AIQV), including Enrolled Members and Certified Quantitative Valuers, in connection with AIQV work.

This Code is additional to, and does not displace, a member’s obligations under the Valuers Registration Act 1992 (Qld), the Valuers Registration Regulation 2024, the rules of professional conduct adopted by the Valuers Registration Board of Queensland, the International Valuation Standards, and any other law. Where there is any inconsistency, the member’s statutory and regulatory obligations prevail.

2. Fundamental principles

• Integrity — act honestly and straightforwardly in all professional dealings.
• Objectivity and independence — form opinions free from bias, conflict of interest or undue influence, including from clients, referrers or the Institute.
• Competence — accept only work you are competent to perform on a desktop basis, and decline work that requires an inspection or expertise you do not have.
• Due care — exercise reasonable care, skill and diligence, and comply with the AIQV Standard.
• Confidentiality — protect client and property information and use it only for the engagement.
• Transparency — disclose scope, assumptions, limitations and the use of quantitative tools clearly.
• Respect — treat clients, colleagues, regulators and other professional bodies with courtesy and respect.

3. Scope of AIQV work

1. Every AIQV report must be titled “Desktop Valuation Assessment (Restricted Scope – No Physical Inspection)” and prepared solely for taxation purposes.
2. A member must not prepare, market or permit an AIQV report to be used for mortgage lending, banking panels, litigation, family law, compulsory acquisition, insurance or any non-taxation purpose.
3. A member must decline, or withdraw from, an engagement where a supportable opinion cannot be formed on a desktop basis.
4. A member must not use AIQV templates, the AIQV workspace or the AIQV professional indemnity facility for work performed for or through an employer or outside the AIQV platform.

4. Use of quantitative and AI tools

1. The opinion of value is the member’s own. A member must not adopt model output without personally reviewing the comparable evidence, adjustments and imagery.
2. A member must record the reasons for accepting, rejecting or varying comparables and adjustments, and must write the mandatory professional commentary personally.
3. A member must not attempt to manipulate inputs to reach a predetermined value.
4. A member must report to the Institute any suspected error, bias or malfunction in the platform.

5. Credentials and terminology

1. A member may describe themselves as “Certified Quantitative Valuer (AIQV)” only while their certification is current.
2. On AIQV reports, a member must show “Registered Valuer (QLD) – VRBQ Registration No. [number]” and their AIQV Certification Number, and must not show the post-nominals or designations of any other professional body.
3. A member must never describe AIQV certification as a “licence”, “licence number” or statutory registration, or suggest that AIQV certification replaces or extends statutory registration.
4. A member must not state or imply that AIQV, or any AIQV report, is endorsed by the Valuers Registration Board of Queensland, the Australian Taxation Office, the Australian Property Institute, the Australian Valuers Institute or any government agency.

6. Conflicts of interest and fees

1. A member must not accept an engagement where they have, or could reasonably be perceived to have, a conflict of interest with the client, the property or the transaction, unless the conflict is disclosed and is not material — and must decline where doubt remains.
2. A member must not accept a fee, commission or benefit that is contingent on the value reported or the outcome of any tax matter.
3. A member must not accept a target value or instructions designed to influence the opinion of value.

7. Separation from other engagements

A member must accept AIQV work through their own contracting entity, comply with their employment obligations (including obtaining any required consent), and keep AIQV work, records and communications separate from work for any employer or under any other scheme.

8. Records and confidentiality

A member must keep all AIQV work within the AIQV workspace so that the full evidence record is retained for at least seven years. A member must not disclose confidential information except with consent, as required by law, to a regulator, to the member’s insurer, or to the Institute for the purposes of quality review and complaints handling.

9. Notification obligations

A member must notify the Institute in writing within five business days of:

• any change to, condition on, suspension or cancellation of their VRBQ registration
• any disciplinary finding or investigation by a regulator or professional body relating to valuation work
• any complaint, claim or circumstance that may give rise to a claim in relation to AIQV work
• any change to their contracting entity, ABN or contact details
• insolvency or bankruptcy

10. Professional conduct and respect

Members must comply with the AIQV Non-Disparagement Policy, co-operate with any quality review or complaint investigation, and must not engage in conduct that would bring the Institute or the valuation profession into disrepute.

11. Breach

A breach of this Code may be dealt with under the AIQV Complaints Handling & Disciplinary Procedure and may result in conditions, suspension or cancellation of certification.