All CEIV credential holders will be required to submit to an annual, proactive Quality Monitoring Program. The goal of the Quality Monitoring Program is to provide confidence to markets and regulators that CEIV credential holders are performing high quality valuations in compliance with the Mandatory Performance Framework.
Quality Monitoring will encompass a combination of reviews of credential maintenance requirements and work performed, as well as reviews of complaints received. Reviews will be structured to gather and evaluate evidence needed to demonstrate core areas of the Mandatory Performance Framework are being followed.
The desired outcome of the Quality Monitoring Program is to work with CEIV credential holders to help them incorporate the appropriate level of skill (through education and compliance with the new Mandatory Performance Framework) which, in turn, should raise quality and improve fair value reporting.