Azerbaijan, Baku, Apr. 14 / Trend U.Ismayilova /
The Azerbaijani Society of Appraisers holds preparation for presentation of the national standards of valuation activity Apr.19, adopted by the State Committee for Standardization, Metrology and Patents, Society's Coordinator Amil Ismayilov said.
"The main objective of conducting the presentation is to inform all consumers involved in this area," he said.
He said the presentation will be attended by appraisers operating in Azerbaijan, representatives of state institutions and international financial institutions, banks and other users of appraisal activities.
The Azerbaijani State Committee for Standardization, Metrology and Patents approved the nine national standards for valuation activities Dec.18.
The committee approved the following standards: professional ethics appraiser; generally accepted principles of assessment; market value, the basis of valuation other than market value of a report on the evaluation, assessment of tangible assets valuation of industrial equipment, machinery and equipment valuation for purposes of preparing financial and accounting records; assessment of loan security, bond and debt.
Assessment activity in Azerbaijan is certificated as a part of IFC's program to develop a mortgage in Azerbaijan and Central Asia, together with the international center for evaluation and the Azerbaijani Society of Appraisers.
The Society, established in 1997, brings together about 80 physicals and 7 legal entities engaged in the valuation activity.
Evaluation activity in Azerbaijan is governed by the law "Valuation activity" adopted in 1995.
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