[SBCB Comment] – THE CLIFFORD CHANCE REVIEW para 5.32 STATES ‘In our review, we did not test the accuracy of the bank’s valuation methodology. As the Tomlinson Report observes, ‘valuation is an art, not a science ‘.
What was Clifford Chance thinking when it quoted Lawrence Tomlinson the ‘care home owner’, rather than a member of RICS?
Michael Newey president of the Royal Institute for Chartered Surveyors (RICS) talks about the new International measurement valuation standards and enforcing those standards. This conflicts with the Clifford Chance review of RBS GRG and West Register, which uses a quote from a care home owner Lawrence Tomlinson to convey that that ‘valuation is an art, not a science ‘. it would clearly be very difficult to ‘enforce an ‘art form‘ especially across countries. Is the Clifford Chance review deliberately misleading its readers? Click here to see the interview!