Slovene Institute of Auditors
• Non-profit professional organization, established in September 1993.
• Based on Auditing Act (coordinated according to EU directive)
• Member of IVSC since 2002
• IVS mandatory since 2004
• Member of TEGoVA since 2014
|
09 |
10 |
11 |
12 |
13 |
Now |
CAGR |
BV |
59 |
64 |
65 |
65 |
70 |
75 |
4% |
Real estate |
58 |
69 |
73 |
81 |
88 |
94 |
11% |
Machinery |
15 |
15 |
16 |
16 |
12 |
11 |
-5% |
Total |
132 |
148 |
154 |
162 |
170 |
180 |
7% |
No. of valuation assignments per discipline
May 2009 to May 2010 |
May 2010 to May 2011 |
May 2011 to May 2012 |
May 2012 to May 2013 |
|
| BV | 259 |
430 |
317 |
387 |
| Real estate | 2.003 |
3.265 |
3.263 |
3.311 |
| Machinery | n/a |
248 |
189 |
143 |
Valuation standards and principles
SIA member of IVSC since 2002 – IVS standards mandatory for all Slovene appraisers since 1.1.2004.
Hierarchy of valuation principles (mandatory for all appraisers)
| a) | Level 1: |
| • Auditing Act | |
| • IVS 2013 (translated) | |
| • Slovene Valuation standards (currently 7 standards) | |
| • Code of Ethics | |
| b) | Level 2: |
| • TIPs issued by IVSC (currently 4 – all translated) | |
| • Explanatory note No. 1: Content of Valuation Report | |
| • Guidance No. 1: Secured lending – real estate valuation | |
| c) | Level 3: Other standers, principles and valuation literature |
How to become Certified Appraisers
2 stage process (mandatory in order to obtain certification)
| a) | Stage 1 – enroll in the program and successfully complete education |
| b) | Stage 2 – apply for working permit |
Stage 1 requirements
| To enroll in the program: | |
| • | university degree |
| • | five years of working experience in the field requiring the knowledge necessary to carry valuation assignments |
| • | examination of professional competence |
| • | no conviction for commercial or property crime |
| Educational program | |
| • | on average 7-8 exams (approx. 180 – 200 hours) |
| • | valuation case based on real data - defended in front of the committee |
Stage 2 requirements
| Apply for valid working permit: | |
| • | granted for 2 years based on prior working experience |
| • | extended for 2 years based on continued education |
| Only appraisers with valid working permit are entered in the public register | |
| Only appraisers with valid working permit are allowed to represent themselves as CERTIFIED VALUERS | |
Regulation – Public oversight
| Based on Auditing Act (applies for Auditors and Certified Appraisers) | |
| Monitored by Agency for Public Oversight of Auditing | |
| Conducted as: | |
| • | Regular planned reviews of appraisal reports (appraisers submit appraisal logs to SIR annually– basis for oversight) |
| • | Each appraisers is subject to public oversight on average every 3-4 years |
| • | Oversight based on user requests (rare) |
| Oversight consequences: | |
| • | Public warning |
| • | License withdrawal |