Assessment of operations of valuation enterprises in Vietnam from July 1, 2024

Assessment of operations of valuation enterprises in Vietnam from July 1, 2024

According to the Circular, the contents of the assessment of operations of valuation enterprises in Vietnam from July 1, 2024 include:

- Maintenance of fulfillment of eligibility requirements to provide valuation services;

- Compliance with regulations of law on valuation and fulfillment of obligations of valuation enterprises;

- Cooperation in formulating and organizing the implementation of legislative documents on prices and valuation with the Ministry of Finance of Vietnam that plays the leading role in performing such tasks;

- Cooperation in performing international cooperation tasks;

- Cooperation in performing state management of prices and valuation with Ministries, central-government authorities and local governments;

- Cooperation in doing scientific researches in the field of valuation.

The assessment shall be carried out by scoring assessment contents on the basis of the following information:

- Information/data in the reports prescribed in Point a Clause 1 Article 5 of Circular No. 38/2024/TT-BTC;

- Information/data obtained during the performance of state management of valuation in respect of valuation enterprises and valuers;

- Information received from Ministries, central-government authorities, local governments, and other organizations and individuals (if any).

The purpose of an assessment is to improve the operational quality of the assessed valuation enterprise. Assessment results will be published by the Department of Price Management on the website of the Ministry of Finance of Vietnam before June 30 each year.

Assessment results do not reflect the quality of specific valuation certificates or valuation reports issued or made by valuers or valuation enterprises.

See more details in Circular No. 38/2024/TT-BTC, effective as of July 1, 2024.

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