Who is in the list of qualified price appraisers in 2023? What are the criteria of price appraisers in Vietnam?
What are the regulations on criteria of price appraisers in Vietnam?
According to the provisions of Article 7 of Decree No. 89/2013/ND-CP on the standards of price appraisers as follows:
Criteria of price appraisers in Vietnam
1. Having civil act capacity.
2. Having ethical qualities, integrity, being honest and objective.
3. Graduated university, post-university specialized in price, appraisal of prices and sectors including: Economy, economy – technique, law involving operation of appraisal of prices issued by legal training organizations in Vietnam or other countries.
4. Having the actual working time under the trained specialties of from 36 (thirty six) months or longer, calculated from the date of issuing the university diploma of specialties specified in Clause 3 of this Article.
5. Having certificate of training on appraisal of prices issued by agencies, organizations which have function on training the appraisal of prices as prescribed by the Ministry of Finance, except from the following cases:
a) Persons who have had graduation diplomas of domestic or foreign universities or post-universities specialized in price, appraisal of prices;
b) Persons who have had graduation diplomas of domestic or foreign universities or post-universities specialized in economy, economy-technique, technique, law involving operation of appraisal of prices and had college diplomas specialized in appraisal of prices.
6. Possessing card of price appraiser issued by the Ministry of Finance.
Thus, price appraisers must meet the following criteria:
- Having civil act capacity.
- Having ethical qualities, integrity, being honest and objective.
- Graduated university, post-university specialized in price, appraisal of prices and sectors including: Economy, economy – technique, law involving operation of appraisal of prices issued by legal training organizations in Vietnam or other countries.
- Having the actual working time under the trained specialties of from 36 (thirty six) months or longer, calculated from the date of issuing the university diploma of specialties specified in Clause 3 Article 7 of Decree No. 89/2013/ND-CP.
- Having certificate of training on appraisal of prices issued by agencies, organizations which have function on training the appraisal of prices as prescribed by the Ministry of Finance, except from the following cases:
+ Persons who have had graduation diplomas of domestic or foreign universities or post-universities specialized in price, appraisal of prices;
+ Persons who have had graduation diplomas of domestic or foreign universities or post-universities specialized in economy, economy-technique, technique, law involving operation of appraisal of prices and had college diplomas specialized in appraisal of prices.
- Possessing card of price appraiser issued by the Ministry of Finance.
Who is in the list of qualified price appraisers in 2023? What are the criteria of price appraisers in Vietnam?
Announcement of the list of qualified price appraisers in Vietnam in 2023?
On December 30, 2022, the Ministry of Finance issued Notice No. 955/TB-BTC in 2022 announcing the list of price appraisers eligible to practicing appraisal of prices from January 1, 2023 at price appraisal enterprises and List of price appraisal enterprises, branches of price appraisal enterprises that fail to meet the conditions for business in price appraisal services from January 1, 2023.
See the full list of qualified price appraisers in 2023: Click here.
Require enterprises to comply with the law on appraisal of prices?
The Ministry of Finance has just sent a document to the general directors and directors of the price appraisal enterprises about their acceptance of the legal regulations on price appraisal.
According to the Ministry of Finance's assessment, basically, the inspected enterprises have complied with regulations on management of price appraisal activities and Vietnam's price appraisal standards.
In addition, the enterprises examined in previous years also had a better sense of compliance with the law on appraisal of prices, and basic shortcomings were overcome.
During the inspection, a number of enterprises violated the provisions of the law on price appraisal such as:
- Failing to notify the Ministry of Finance when changing the list of appraisers;
- Failing to properly implement the price appraisal process;
- Failing to buy professional liability insurance, do not set up a reserve fund for professional risks, issue appraisal certificates
- The price appraisal report does not contain enough basic information according to the instructions in Vietnam's price appraisal standards
All of the above violations have been recorded in administrative penalties and sanctioned according to regulations.
According to the Ministry of Finance, the main reason is that some enterprises have not fully grasped the full implementation of legal provisions on price appraisal, especially timely updating of new regulations; have not performed well the control and internal inspection of price appraisal activities at enterprises; some appraisers are still inexperienced and do not have a deep understanding of the appraised assets and the market of the appraised assets...so there have not been necessary assessments and arguments during the valuation process to draw appropriate conclusions about the value of the appraised assets.
Therefore, the Ministry of Finance requires the general directors and directors of the price appraisal enterprises to recognize the existence and shortcomings, compare them with the operation situation to strictly learn from experience and make timely corrections through the following methods:
- Regularly update relevant legal documents and the system of Vietnamese price appraisal standards;
- Strictly and fully comply with the provisions of the law, first of all, the system of Vietnamese price appraisal standards.
- It is necessary to fully and seriously implement the price appraisal process, especially the survey, income and information analysis.
- Make a full report on survey of the actual situation of the appraised asset and the information collection form, which must clearly state the source, ensure objectivity, honesty, and be verified and verified before estimating the value of asset.
- Apply the calculation in each price appraisal method, it is necessary to complete all steps;
- Issue report on results and certificate of price appraisal with full contents as prescribed in Vietnam price appraisal standard No. 05 issued together with Circular No. 28/2015/TT-BTC.
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