Risk management - Land valuers
Rule 23 of the Licensed Valuers Code of Conduct states a licensed valuer shall maintain a risk management program.
Risk management in the context of the land valuation industry requires an appreciation of best practice valuation practices and procedure. At minimum, risk management programs are likely to include the following:
- established compliance procedures, including internal dispute resolution processes;
- documented training systems for employees;
- participation in ongoing professional development programs; and
- the maintenance of appropriate professional indemnity insurance.
Maintaining an effective risk management program ensures land valuers minimise risk to their business, thereby reducing potential liability, premiums and difficulties in obtaining professional indemnity insurance.
Though Consumer Protection does not endorse any specific risk management training course, it is aware there are several such courses available that may be of interest to licensees, a number of which are outlined below. The list is not to be taken as an exhaustive list of available courses, and licensees are invited to notify Consumer Protection of any other relevant courses.
Land Valuers considering participation in one or more of the courses below are reminded to take note of any individual accreditation requirements (eg CPD requirements) they may have with other bodies, as completion of a risk management training course from one body may not necessarily satisfy the requirements of another body.
Contact details for training providers
Please contact the provider for more detail about their courses.
- API (WA Division): phone (08) 9474 2784 or email
- Edith Cowan University: phone (08) 6304 5831 or email
- Real Estate Institute of Western Australia (REIWA): phone (08) 9388 8155 or email
- Australian Institute of Management: phone (08) 9383 8000 or email
- Insurance Brokers - sometimes provide risk management training, though this training may be directed at obtaining and maintaining professional indemnity insurance rather than general risk management.
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