{"id":811,"date":"2025-01-19T06:50:16","date_gmt":"2025-01-19T01:20:16","guid":{"rendered":"https:\/\/prathap.lk\/?post_type=portfolio&#038;p=811"},"modified":"2025-01-19T07:51:20","modified_gmt":"2025-01-19T02:21:20","slug":"impacts-of-competency-of-valuers-on-accuracy-of-fair-value-for-financial-reporting-purpose","status":"publish","type":"portfolio","link":"https:\/\/prathap.lk\/index.php\/portfolio-item\/impacts-of-competency-of-valuers-on-accuracy-of-fair-value-for-financial-reporting-purpose\/","title":{"rendered":"Impacts of competency of valuers on accuracy of fair value for financial reporting purpose"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"811\" class=\"elementor elementor-811\">\n\t\t\t\t<div class=\"elementor-element elementor-element-50104930 e-flex e-con-boxed e-con e-parent\" data-id=\"50104930\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-153d014e e-con-full e-flex e-con e-child\" data-id=\"153d014e\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-52f74f11 elementor-widget elementor-widget-heading\" data-id=\"52f74f11\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Authors:<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-468582d1 elementor-widget elementor-widget-author-box\" data-id=\"468582d1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"author-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6c1cccdf elementor-widget elementor-widget-author-box\" data-id=\"6c1cccdf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"author-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1a478011 elementor-align-justify elementor-widget elementor-widget-button\" data-id=\"1a478011\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.ihra.cmb.ac.lk\/journal\/volume-11-issue1-june-2024\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon\">\n\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-newspaper\" viewBox=\"0 0 576 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M552 64H88c-13.255 0-24 10.745-24 24v8H24c-13.255 0-24 10.745-24 24v272c0 30.928 25.072 56 56 56h472c26.51 0 48-21.49 48-48V88c0-13.255-10.745-24-24-24zM56 400a8 8 0 0 1-8-8V144h16v248a8 8 0 0 1-8 8zm236-16H140c-6.627 0-12-5.373-12-12v-8c0-6.627 5.373-12 12-12h152c6.627 0 12 5.373 12 12v8c0 6.627-5.373 12-12 12zm208 0H348c-6.627 0-12-5.373-12-12v-8c0-6.627 5.373-12 12-12h152c6.627 0 12 5.373 12 12v8c0 6.627-5.373 12-12 12zm-208-96H140c-6.627 0-12-5.373-12-12v-8c0-6.627 5.373-12 12-12h152c6.627 0 12 5.373 12 12v8c0 6.627-5.373 12-12 12zm208 0H348c-6.627 0-12-5.373-12-12v-8c0-6.627 5.373-12 12-12h152c6.627 0 12 5.373 12 12v8c0 6.627-5.373 12-12 12zm0-96H140c-6.627 0-12-5.373-12-12v-40c0-6.627 5.373-12 12-12h360c6.627 0 12 5.373 12 12v40c0 6.627-5.373 12-12 12z\"><\/path><\/svg>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Journal<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bceb47a elementor-align-justify elementor-widget elementor-widget-button\" data-id=\"bceb47a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.researchgate.net\/publication\/387067237_Impacts_of_Competency_of_Valuers_on_Accuracy_of_Fair_Value_for_Financial_Reporting_Purpose\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon\">\n\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-download\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M216 0h80c13.3 0 24 10.7 24 24v168h87.7c17.8 0 26.7 21.5 14.1 34.1L269.7 378.3c-7.5 7.5-19.8 7.5-27.3 0L90.1 226.1c-12.6-12.6-3.7-34.1 14.1-34.1H192V24c0-13.3 10.7-24 24-24zm296 376v112c0 13.3-10.7 24-24 24H24c-13.3 0-24-10.7-24-24V376c0-13.3 10.7-24 24-24h146.7l49 49c20.1 20.1 52.5 20.1 72.6 0l49-49H488c13.3 0 24 10.7 24 24zm-124 88c0-11-9-20-20-20s-20 9-20 20 9 20 20 20 20-9 20-20zm64 0c0-11-9-20-20-20s-20 9-20 20 9 20 20 20 20-9 20-20z\"><\/path><\/svg>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Download<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7a0ee625 elementor-align-justify elementor-widget elementor-widget-button\" data-id=\"7a0ee625\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.researchgate.net\/publication\/387067237_Impacts_of_Competency_of_Valuers_on_Accuracy_of_Fair_Value_for_Financial_Reporting_Purpose\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon\">\n\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-bookmark\" viewBox=\"0 0 384 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M336 0H48C21.49 0 0 21.49 0 48v464l192-112 192 112V48c0-26.51-21.49-48-48-48zm0 428.43l-144-84-144 84V54a6 6 0 0 1 6-6h276c3.314 0 6 2.683 6 5.996V428.43z\"><\/path><\/svg>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">References <\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-447271a3 e-con-full e-flex e-con e-child\" data-id=\"447271a3\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-61f2b0ca elementor-widget elementor-widget-heading\" data-id=\"61f2b0ca\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Abstract<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2ed03159 elementor-widget elementor-widget-text-editor\" data-id=\"2ed03159\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"nova-legacy-l-flex__item nova-legacy-l-flex__item--grow research-detail-middle-section__item\"><div class=\"nova-legacy-c-card nova-legacy-c-card--spacing-m nova-legacy-c-card--elevation-1-above\"><div class=\"nova-legacy-c-card__body nova-legacy-c-card__body--spacing-inherit\"><div class=\"nova-legacy-e-text nova-legacy-e-text--size-m nova-legacy-e-text--family-sans-serif nova-legacy-e-text--spacing-none nova-legacy-e-text--color-grey-800 research-detail-middle-section__abstract\">This study aims at exploring how Competency of Valuers (CV) impacts the accuracy of Fair Value (FV) assessments for financial reporting. With an emphasis on experience and qualifications, the study stives to fill in current research gaps by investigating the relationship between CV (independent variable) and accuracy of FV (dependent variable). It employed a mixed method approach, combining a pilot survey of five scaled questioner, administered to a randomly selected sample of 50 chartered valuers and accountants in Sri Lanka with a comprehensive literature review, then a quantitative analysis performed by SPSS utilizing Pearson\u2019s correlation and Regression analysis. The findings shows that there is a moderate positive but significant (p-value = 0.002), relationship between CV and accuracy of FV with correlation coefficient of 0.422 and it indicates that FV accuracy increases in line with increase of CV. Regression analysis also shows that a one unit increase in CV results in a 44.2% increase in accuracy of FV, with CV explains 17.8% (R2=0.178) of the variance in accuracy of FV. Further, qualitative insights emphasize how crucial it is to use qualified, competent and experienced valuers so as to ensure the accuracy of FV assessments. Hence, the study recommends establishing criteria for qualification and experience required for Valuers, emphasizing continues professional development, investing in valuer education and training, encouraging quality assurance mechanism, and fostering ethical practices in FV assessments. Notwithstanding offering insightful conclusion, the study experienced limitation pertaining to timing, geographic scope, sample size and composition. To improve the accuracy of FV assessment for financial reporting, further research is recommended in the subject area.<\/div><\/div><\/div><\/div><div class=\"nova-legacy-l-flex__item nova-legacy-l-flex__item--grow research-detail-middle-section__item\">\u00a0<\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-5467a13 e-flex e-con-boxed e-con e-parent\" data-id=\"5467a13\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1acbbbb6 elementor-widget elementor-widget-heading\" data-id=\"1acbbbb6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Other Publications<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6655455c elementor-widget elementor-widget-mfn_portfolio\" data-id=\"6655455c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"mfn_portfolio.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"column_filters\"><div class=\"portfolio_wrapper isotope_wrapper \"><ul class=\"portfolio_group lm_wrapper isotope col-3 masonry-hover\"><li class=\"portfolio-item isotope-item category-case-studies  has-thumbnail\"><div class=\"masonry-hover-wrapper\"><div class=\"hover-desc bg-light\" style=\"\"><div class=\"desc-inner\"><h5 class=\"entry-title \" itemprop=\"headline\"><a class=\"link\" href=\"https:\/\/prathap.lk\/index.php\/portfolio-item\/a-critical-analysis-of-land-tenure-and-property-value\/\">A critical analysis of land tenure and property value<\/a><\/h5><div class=\"desc-wrapper\">Authors: Download References Abstract This report refers to a valuation carried out in 2008 for a hotel located in the suburbs of Colombo intended for sale.<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/div><\/div><div class=\"links-wrapper clearfix\"><a class=\"zoom\" href=\"https:\/\/prathap.lk\/wp-content\/uploads\/2025\/01\/14.jpg\" rel=\"prettyphoto\"><i class=\"icon-search\" aria-label=\"zoom image\"><\/i><\/a><a class=\"link\" href=\"https:\/\/prathap.lk\/index.php\/portfolio-item\/a-critical-analysis-of-land-tenure-and-property-value\/\"><i class=\"icon-link\" aria-label=\"go to link\"><\/i><\/a><\/div><\/div><div class=\"image-wrapper scale-with-grid\"><a class=\"link\" href=\"https:\/\/prathap.lk\/index.php\/portfolio-item\/a-critical-analysis-of-land-tenure-and-property-value\/\"><img fetchpriority=\"high\" decoding=\"async\" width=\"512\" height=\"800\" src=\"https:\/\/prathap.lk\/wp-content\/uploads\/2025\/01\/14.jpg\" class=\"scale-with-grid wp-post-image\" alt=\"\" itemprop=\"image\" srcset=\"https:\/\/prathap.lk\/wp-content\/uploads\/2025\/01\/14.jpg 512w, https:\/\/prathap.lk\/wp-content\/uploads\/2025\/01\/14-320x500.jpg 320w, https:\/\/prathap.lk\/wp-content\/uploads\/2025\/01\/14-192x300.jpg 192w, https:\/\/prathap.lk\/wp-content\/uploads\/2025\/01\/14-48x75.jpg 48w, https:\/\/prathap.lk\/wp-content\/uploads\/2025\/01\/14-480x750.jpg 480w\" sizes=\"(max-width:767px) 480px, 512px\" \/><\/a><\/div><\/div><\/li><li class=\"portfolio-item isotope-item category-case-studies  has-thumbnail\"><div class=\"masonry-hover-wrapper\"><div class=\"hover-desc bg-light\" style=\"\"><div class=\"desc-inner\"><h5 class=\"entry-title \" itemprop=\"headline\"><a class=\"link\" href=\"https:\/\/prathap.lk\/index.php\/portfolio-item\/rising-above-the-tsunami-waves\/\">Rising Above the Tsunami Waves<\/a><\/h5><div class=\"desc-wrapper\">Authors: Information Rising Above the Tsunami Waves , Co-Author, Case studies of PTCRReMP\u2019s Interventions, Post-tsunami Coastal Rehabilitation and Resource Management Programme by IFAD, 2013, Sri Lanka,<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/div><\/div><div class=\"links-wrapper clearfix\"><a class=\"zoom\" href=\"https:\/\/prathap.lk\/wp-content\/uploads\/2025\/01\/13.jpg\" rel=\"prettyphoto\"><i class=\"icon-search\" aria-label=\"zoom image\"><\/i><\/a><a class=\"link\" href=\"https:\/\/prathap.lk\/index.php\/portfolio-item\/rising-above-the-tsunami-waves\/\"><i class=\"icon-link\" aria-label=\"go to link\"><\/i><\/a><\/div><\/div><div class=\"image-wrapper scale-with-grid\"><a class=\"link\" href=\"https:\/\/prathap.lk\/index.php\/portfolio-item\/rising-above-the-tsunami-waves\/\"><img decoding=\"async\" width=\"512\" height=\"800\" src=\"https:\/\/prathap.lk\/wp-content\/uploads\/2025\/01\/13.jpg\" class=\"scale-with-grid wp-post-image\" alt=\"\" itemprop=\"image\" srcset=\"https:\/\/prathap.lk\/wp-content\/uploads\/2025\/01\/13.jpg 512w, https:\/\/prathap.lk\/wp-content\/uploads\/2025\/01\/13-320x500.jpg 320w, https:\/\/prathap.lk\/wp-content\/uploads\/2025\/01\/13-192x300.jpg 192w, https:\/\/prathap.lk\/wp-content\/uploads\/2025\/01\/13-48x75.jpg 48w, https:\/\/prathap.lk\/wp-content\/uploads\/2025\/01\/13-480x750.jpg 480w\" sizes=\"(max-width:767px) 480px, 512px\" \/><\/a><\/div><\/div><\/li><li class=\"portfolio-item isotope-item category-papers  has-thumbnail\"><div class=\"masonry-hover-wrapper\"><div class=\"hover-desc bg-light\" style=\"\"><div class=\"desc-inner\"><h5 class=\"entry-title \" itemprop=\"headline\"><a class=\"link\" href=\"https:\/\/prathap.lk\/index.php\/portfolio-item\/reviewofpriceformationoflandandlandedpropertiesincolomboisitamythorreality\/\">Review of Price Formation of Land and Landed Properties in Colombo: Is it a Myth or Reality?<\/a><\/h5><div class=\"desc-wrapper\">Authors: Download References Abstract Land and landed properties are fundamental ingredients for the socioeconomic development of a country. In any development project, land and buildings are<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/div><\/div><div class=\"links-wrapper clearfix\"><a class=\"zoom\" href=\"https:\/\/prathap.lk\/wp-content\/uploads\/2025\/01\/12.jpg\" rel=\"prettyphoto\"><i class=\"icon-search\" aria-label=\"zoom image\"><\/i><\/a><a class=\"link\" href=\"https:\/\/prathap.lk\/index.php\/portfolio-item\/reviewofpriceformationoflandandlandedpropertiesincolomboisitamythorreality\/\"><i class=\"icon-link\" aria-label=\"go to link\"><\/i><\/a><\/div><\/div><div class=\"image-wrapper scale-with-grid\"><a class=\"link\" href=\"https:\/\/prathap.lk\/index.php\/portfolio-item\/reviewofpriceformationoflandandlandedpropertiesincolomboisitamythorreality\/\"><img decoding=\"async\" width=\"512\" height=\"800\" src=\"https:\/\/prathap.lk\/wp-content\/uploads\/2025\/01\/12.jpg\" class=\"scale-with-grid wp-post-image\" alt=\"\" itemprop=\"image\" srcset=\"https:\/\/prathap.lk\/wp-content\/uploads\/2025\/01\/12.jpg 512w, https:\/\/prathap.lk\/wp-content\/uploads\/2025\/01\/12-320x500.jpg 320w, https:\/\/prathap.lk\/wp-content\/uploads\/2025\/01\/12-192x300.jpg 192w, https:\/\/prathap.lk\/wp-content\/uploads\/2025\/01\/12-48x75.jpg 48w, https:\/\/prathap.lk\/wp-content\/uploads\/2025\/01\/12-480x750.jpg 480w\" sizes=\"(max-width:767px) 480px, 512px\" \/><\/a><\/div><\/div><\/li><\/ul><div class=\"column one pager_wrapper pager_lm\"><a rel=\"next\" class=\"pager_load_more button has-icon\" href=\"https:\/\/prathap.lk\/index.php\/wp-json\/wp\/v2\/portfolio\/811\/page\/2\/\"><span class=\"button_icon\"><i class=\"icon-layout\" aria-hidden=\"true\"><\/i><\/span><span class=\"button_label\">Load more<\/span><\/a><\/div><\/div>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Authors: Journal Download References Abstract This study aims at exploring how Competency of Valuers (CV) impacts the accuracy of Fair Value (FV) assessments for financial reporting.<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>\n","protected":false},"author":1,"featured_media":813,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","meta":[],"portfolio-types":[23],"class_list":["post-811","portfolio","type-portfolio","status-publish","has-post-thumbnail","hentry","portfolio-types-journals"],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/prathap.lk\/index.php\/wp-json\/wp\/v2\/portfolio\/811","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prathap.lk\/index.php\/wp-json\/wp\/v2\/portfolio"}],"about":[{"href":"https:\/\/prathap.lk\/index.php\/wp-json\/wp\/v2\/types\/portfolio"}],"author":[{"embeddable":true,"href":"https:\/\/prathap.lk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prathap.lk\/index.php\/wp-json\/wp\/v2\/comments?post=811"}],"version-history":[{"count":0,"href":"https:\/\/prathap.lk\/index.php\/wp-json\/wp\/v2\/portfolio\/811\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/prathap.lk\/index.php\/wp-json\/wp\/v2\/media\/813"}],"wp:attachment":[{"href":"https:\/\/prathap.lk\/index.php\/wp-json\/wp\/v2\/media?parent=811"}],"wp:term":[{"taxonomy":"portfolio-types","embeddable":true,"href":"https:\/\/prathap.lk\/index.php\/wp-json\/wp\/v2\/portfolio-types?post=811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}