IVSC 2018 AGM – Dubai

This year’s IVSC AGM will take place in Dubai from 22-24 October. The Dubai Land Department are kindly hosting our AGM which will take place at the Hilton Dubai Al Habtoor City.

In addition to the AGM, each of the IVSC’s standards boards will host public meetings to discuss proposed developments to IVS and the Advisory Forum, comprised of Valuation Professional Organisations from around the world, will also hold its annual meeting.

The IVSC AGM is a great opportunity to network with international valuation, business and standards leaders from around the world, and to contribute to the evolution of the global valuation profession. Each year the AGM moves location between the Americas, EMEA and Asia-Pacific. Last year it was hosted by the Mexican financial regulator.

IVSC sponsors and members are encouraged to attend and can claim discounted or free registration. There are also a limited number of places available to non-members and sponsors.

Click here to visit our AGM event page.

Source – ivsc.org


Professional Insight: Putting market transparency at the heart of Saudi’s long-term vision

By 2030, Saudi Arabia aspires to be recognised as an international powerhouse of business and investment, right at the heart of the Arab and Islamic worlds. A cornerstone of its approach will see investor confidence boosted through robust valuation standards and market transparency. We spoke to Sultan Aljorais who, as Secretary General of the Saudi valuation authority, is responsible for overseeing the emergence of a valuation profession in the country.

  1. Can you tell us a little about Taqeem, its role and history?

 The Saudi Authority for Accredited Valuers (Taqeem) is a non-profit valuation professional organisation established in 2013 by a royal decree, thus making Taqeem’s designation mandatory for any valuers in the Kingdom. Taqeem works as an independent governmental body working under the Ministry of Commerce and Investment.

TAQEEM aims to regulate and develop the valuation profession, accredit qualified valuers and apply the International Valuation Standards to increase the community trust and awareness in the valuation profession in Saudi Arabia.

2. Who are Taqeem’s primary stakeholders? Who do you work with?

Our primary stakeholders are valuers in all valuation sectors (Real estate, Business valuation, M&E valuation and personnel property).  We also work with government and private entities, such as Ministries, Banks, Capital Market Authority, and the Monetary Authority.

3. What is your role at Taqeem and how has your career brought you to this position?

I am a Secretary General of Taqeem. I have 22 years of experience in various organizations and mainly start-ups. I have been with Taqeem since the day it was established and worked with my team to set the foundation for standards, regulations and education programs.

4. How well developed is the valuation profession in Saudi and what factors have been driving its evolution in recent years?

Taqeem managed to regulate the valuation profession in Saudi Arabia with the help of its governmental authority. The Law of Accredited Valuers enforced valuers to undertake professional training in valuation which increased the quality of valuation services in KSA. This contributed to enhancing the overall transparency of the Saudi market and was aided by the introduction of the International Valuation Standards and the 2030 Vision.

5. Is Taqeem interested in areas of valuation beyond real estate? If so, which areas and why is this important?

Yes, Taqeem currently has 4 sectors of valuation; real estate, business, automobile damage assessment and machinery and equipment which will be introduced later this year. Our next area of interest is the precious metals and gemstones sector which constitutes a large portion of investments in Saudi Arabia and the region. Thus, we would like to enhance transparency in that sector by providing a solid groundwork that investors can trust.

6. The Saudi state is working towards a 2030 strategic vision. What is the aim of this plan and how do Taqeem’s efforts to professionalise the valuation industry relate to it?

2030 Vision aims for Saudi Arabia to be the heart of the Arab and Islamic worlds, the investment powerhouse, and the hub connecting three continents.

Gaining trust in the valuation profession will attract investors from all around the world contributing in one of the major pillars of the 2030 vision.

7. What will the valuation industry in Saudi look like in 2030? What will be different, do you think?

 The Saudi valuation market in 2030 will have a mature profession, internationally trusted valuations, improved transparency, clear outlook and better decision making supported by the International Valuation Standards.

8. IVS is seen as a strong foundation for the Saudi valuation profession but how did you arrive at this conclusion, did Saudi look at other systems also?

After establishing Taqeem, we looked for a unifying framework for the valuation profession. IVSC provided that with their creditable standards and extensive spread worldwide.

9. Who stands to benefit most through the emergence of strong and internationally recognised valuation standards in Saudi?

 The Saudi market in general, and by extension valuers, local and international investors, and entrepreneurs. The increased trust and transparency in valuation will nurture the culture of investment and create a stronger economy.

  Interview by Richard Stokes

Director of Communications, International Valuation Standards Council (IVSC)

rstokes@ivsc.org

Source – ivsc.org


ASA Releases Fifth Business Valuation Special Topics-Technical Paper

The Business Valuation Committee of the American Society of Appraisers (ASA) has released its fifth business valuation Special Topics-Technical Paper: Consideration of Stock-Based Compensation in the Valuation Process.

The paper was recently published in Business Valuation Review and now available for complimentary download on ASA’s website.

About the Special Topics-Technical Papers

The Business Valuation Committee of the American Society of Appraisers (ASA) has created a new series of Special Topics-Technical Papers prepared by its Technical Issues Sub-committee. These recommended best-practices on special topic issues have been reviewed and approved by the Business Valuation Committee of ASA.

These papers are intended to represent the recommended approach according to the Business Valuation Committee of American Society of Appraisers. However, they do not constitute a standard and are not authoritative. Facts and circumstances could require the use of further professional judgment and a different approach.

Special Topics-Technical Papers Available for Complimentary Download:
01: Use of Offers as Indications of Value in the Market Approach

For more information call (800) 272-8258 or e-mail mailto:asainfo@appraisers.org.

Source – appraisers.org


Demand for Aviation Valuation Training Continues

Demand for the ASA/Embry-Riddle Aeronautical University (ERAU) aviation valuation training program continues with the recent selling out of the inaugural offering of a renewed three year partnership. Organizers had to close registration after only three days of being open due to all 30 available registration spots being filled. This achievement continues the success of previous year’s sell outs, further attesting to the ongoing popularity of the program.

Commenting on the continued success of the program, Chair of the Society’s Machinery & Technical Specialties Discipline Committee, Samuel Shapiro, ASA, said, “We are tremendously pleased with our recent course registration and with the overall success of the program. This continued demand showcases the growing need for highly trained and credentialed professionals within the aviation industry.”

EARU Dean and Professor, Michael J. Williams, Ph.D., added, saying “Our students recognize the value and opportunities such professional development offerings affords them, especially in an ever-changing competitive job environment.”

The remaining first round of courses held in Daytona, Florida include: ME202AS – Machinery and Equipment Methodology (Aviation Specific) November 1-4, 2018ME203AS – Advanced Topics in Aircraft Appraisal January 17-20, 2019 and ME204AS – Advanced Topics in Aircraft Appraisal II Mach 14-17, 2019.

These courses are for individuals wishing to pursue a career in aviation valuation or for professionals seeking a specialty designation and a pathway to ASA membership. Only with ASA and Embry-Riddle will individuals receive such superior aviation valuation education to further develop their career, professional potential and gain hands-on experience. Those wishing to apply may contact Christina Snowden, christina.snowden@erau.edu or (386) 226-7214.

Register today or for more information visit, ASA Online, or call (800) 272-8258.

Source – appraisers.org