On Certain Aspects of Applying International Standards for Property Valuation in Countries with Economy in Transit
On Certain Aspects of Applying International Standards for Property Valuation in Countries with Economy in Transit

Author(s): Olga Buzu
Subject(s): Accounting - Business Administration
Published by: Икономически университет - Варна
Keywords: Property valuation; Types of standards; Valuation standards; Value bases
Summary/Abstract: The article discusses the challenges of adapting international property valuation standards to the national legal and regulatory framework in countries with economy in transit. These standards are conceptual and discursive in nature, which circumstance complicates their application for practical purposes in property appraisals. The article presents a classification for property valuation standards according to their distinctive features such as geographical scope, the level of mandatory and the depth of detail. The author substantiates the relevance and necessity to develop national valuation standards, suggesting their indicative structure as well as some specific steps to adapt international standards to national property appraisal practices.

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