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Panel of Financial Experts (POFE) Scheme
POFE neutral financial valuation
A neutral financial valuation report helps the courts assess the division of assets in a divorce and determine the value of assets in probate matters. The POFE Scheme is a collaboration between the FJC and the ISCA to assist parties to determine the value of their assets in such proceedings. At the case conference stage, the judge hearing your case may refer you to the POFE Scheme depending on suitability.
Note
The POFE panel is appointed by the ISCA. Panel members are either public accountants or holders of ISCA financial forensic professional credentials, with relevant experience in asset valuation and financial analysis.
Key benefits
- Cost savings – The advantage of using a single financial expert eliminates the need for multiple valuers, significantly reducing overall costs for parties. Only one set of professional fees is required instead of separate fees for the experts of each party.
- Neutrality and objectivity – The financial expert serves as an independent party to issue a neutral financial report and provide an equitable and objective valuation of the matrimonial assets or probate assets under contest.
- Structured process – The scheme provides a clear, systematic approach with defined milestones and timelines.
Payment structure
Parties are given the opportunity to agree on the percentage of fees to be paid by each party. If parties cannot agree, then the proportion of payment ratio will be determined by the judge who may direct that the parties collectively pay, or one party pays first (to be reimbursed later) 50% of the fees upfront. The remaining amount to be paid upon conclusion of the divorce or probate proceedings out of the pool of assets once the judge endorses that the financial expert’s work is completed.The default payment structure is by milestone payments as follows:
- 1st payment – 50% due after the financial expert signs the Letter of Appointment (LOA).
- 2nd payment – 30% due after submission of the valuation report to FJC.
- 3rd payment – 20% due after judge endorses that the financial expert’s work is completed.
Referral to the POFE Scheme
Initial consent
Parties give their preliminary consent to be referred to the POFE Scheme at a case conference held by the judge for the divorce or probate proceedings.
Information gathering
Parties complete a basic information document providing essential details on the case and the assets requiring valuation. This information helps ISCA to select the appropriate financial expert for each case.
Appointment of the Financial Expert
Expert assignment
ISCA assigns a financial expert from the panel who is required to conduct conflict checks to ensure independence and objectivity in relation to both parties and the assets to be valued.
Initial discussion meeting
Once conflict checks are completed, parties and the financial expert attend an initial discussion meeting. This meeting is to allow the financial expert to confirm the key information and documents required. At this initial discussion meeting, the financial expert will also confirm with parties the details of the scope of work which may include matters like the valuation date(s) of the assets and fee quotes for external valuers.
Formalising the engagement
Settling the valuation date, if needed
If there is no agreement on the valuation date, then the financial expert cannot start work on the report. In such case, the judge hearing the case may direct that the valuation date be the date of the first hearing of the ancillary matters for the divorce proceedings or the first hearing of the probate proceedings.
Formal agreement
Parties sign a Letter of Consent after being informed of all fee details including the milestone payment structure and the financial expert will sign a LOA. This formalises the engagement and allows the financial expert’s work to start.
Valuation and report
Valuation process
The financial expert works directly with parties to obtain the required documents and information, then prepares a comprehensive neutral valuation report which will be submitted to FJC.
Report review
After FJC sends the valuation report to parties, they have one opportunity to submit written questions to the financial expert within 2 weeks of receipt of the valuation report. If no questions are received, the financial expert's work is considered complete.
2026/06/12
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