FRSIC had initiated a dialogue with representatives from the Institute of
Surveyors Malaysia (ISM) on 10 April 2008; which was mooted subsequent to
receiving positive feedback from some professional valuers who participated
in the working group of a FRSIC project.
FRSIC and ISM exchanging views on fair value measurement.
FRSIC considers it needful to build a platform for continuous communication
between the accountancy professionals and the valuers’ profession. In
particular, where fair value is getting more prominent in the accounting
arena, higher reliance and involvement of valuers’ profession would be
expected to determine the fair value for accounting measurement, recognition
and disclosure purpose.
FRSIC Chairman, En. Nik Mohd Hasyudeen Yusoff chaired the meeting with ISM
This dialogue forms a good starting point for both professionals as a mean
for communication with the main objective of closing the expectation gaps
required of both professions. The dialogue, which was held on 10 April 2008,
had been fruitful. Both parties had unanimously agreed that a Joint
Technical Committee (JTC) should be set up to look into the consistency and
compliance of standards governing both professions.
Miss Yeoh Suan Choo, Technical Director of MIA deliberating her views
Representatives from Institute of Surveyors, Malaysia (ISM)
