Duration of Appraisal Quality Inspection Activities

21:49, 10/07/2024

On December 16, 2016, the Ministry of Finance issued Circular 323/2016/TT-BTC stipulating the inspection, supervision, and assessment of the quality of valuation activities.

According to the provisions of Circular 323/2016/TT-BTC, the inspection, supervision, and evaluation of the quality of appraisal activities are conducted within the following timeframes:

- Regular inspections- Regular inspections are conducted for an appraisal enterprise at least once every 4 years from the date the enterprise is granted the Certificate of Eligibility for Valuation Service Business by the Ministry of Finance or from the date of the most recent consecutive inspection.- Unexpected inspections in the following cases:- When there are signs of legal violations in valuation;- At the request of the Minister or the head of ministerial-level agencies;- Handling complaints and denunciations under the authority as prescribed by the law on complaints and denunciations.- An appraisal enterprise that has undergone an unexpected inspection will not be subjected to a regular inspection or a combined regular and unexpected inspection within that same year.- The Ministry of Finance notifies the decision to inspect the appraisal enterprises to be inspected.

More details can be found in Circular 323/2016/TT-BTC, effective from February 1, 2017.

- Thanh Lam -

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