International Standards

The Universal Standard of Professional Appraisal Practice (USPAP) is a set of rules designed to promote and maintain a high level of public trust in Value Appraisal Practice by establishing  minimum standard requirements for Appraisers.

The development of “trust”  between the General Public and the Professional Appraiser is also inherant in other professions such as Medical & Legal Practice.  Contained within this notion of ‘Trust” is a relationship that requires the professional to provide more than their skill or expertise.  There is a distinct ethical obligation to act in the behalf of the public’s interest, not out of Self Interest.  

USPAP outlines the format, layout, inclusions and record keeping requirements in an engagement by an Appraiser to produce a compliant Appraisal Report that meets the Standard.  The standard also outlines  the obligations and responsabilities of the Appraiser  to act impartially  without bias and be an advocate only for the conclusions in the report.

In June 2006 the Appraisal Foundation signed agreement with the International Valuation Standards Committee(IVSC) to harmonise USPAP  as the International Standard for Value Appraisals.

The IVSC is a Non-Government- Organisation member of the United Nations and works Cooperatively with organisations like the World Bank, OECD, International Federation of Accountants, International Accounting Standards Board and others including Valuation Societies throughout the world to harmonise and promote agreement and understanding of Valuation Standards. 

Avantia Corporate Services  Independent Business Value Appraisal Reports and ACEA Machinery & Equipment Reports comply with USPAP Standards and are Certified as such.

Avantia Corporate Services Business Value Reports comply with the requirements of the Australian Accounting Standards APES 225 (Revised 2012).   These standards apply simmilar requirements on Appraisers to USPAP which is recognised internationally.

 

Aditionally, Avantia Corporate Services Appraisal Reports also comply with the requirements of an "Expert Witness" Report in matters of Litigation or  Family Dispute and are suitable for presentation as such in the Federal Magistrates Court and the Family Court of Australia. 

All engagements are subject to execution of a formal Engagement Agreement which specifies the Terms, Cost and Deliverable Timeframe as well as provisions for Court apperance if required.

Call 1300  66 55 83  now  for a confidential, no obligation discussion of  your Valuation requirements. 

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