- Number of CPD hours required
Registered Business Valuers are required to complete 10 hours of CPD in each calendar year. Valuers who registered in the middle of the year are required to complete the annual CPD requirement on a pro-rata basis.
It should be noted that HKBVF intent to gradually raise the annual CPD requirement to 20 hours in the coming years when there is adequate supply of CPD contents.
- CPD Format
Professional seminars, academic courses on valuation and business analysis, delivering lectures or presentations at seminars/conferences, and in-house training programs would qualify as CPD. Readings, private study and self study will not qualify.
- CPD Content
CPD content should have a business or valuation perspective. Seminars and courses that develop advanced valuation skills are preferred. CPD must be of appropriate level for someone who is already a Registered Business Valuer.
- Approval of CPD hours
The HKBVF council has the ultimate power to decide whether a particular event will qualify for CPD hours. All HKBVF member institutes will be granted the status of Approved Provider. Events organized by these institutes can be pre-approved to qualify for CPD hours. Additional Approve Providers will be considered as and when a need arises.
- Record Keeping
Registered Business Valuers are required to keep records of CPD hours they attended with proper documentation. CPD records must be kept for a minimum of three years and are subject to audit by the BVF. They are also required to file an annual return to declare fulfillment of the CPD requirements.
- Carrying forward CPD hours
Registered Business Valuers are allowed to carry forward CPD hours made in excess of the current calendar year's requirement onto the next calendar year. No further carry-forward will be allowed.
- Penalties for non-compliance
In the event of non-compliance, a Registered Business Valuer will be given a grace period of 3 months to complete the required CPD hours. Registration status will be suspended if the valuer still fails to comply with the CPD requirement after the lapse of the grace period. Suspended valuers may apply for reinstatement if they have completed one year of CPD requirement within the twelve month period immediately before they submit the application.