Evaluations up to international standards

The National Association of Evaluators in Romania (ANEVAR) on Tuesday announced the launch of the International Evaluation Standards, the application of which will become mandatory for the 5,000 association members. The new standards will add to the already existing standards in Romania, and bring them in line with those used worldwide. The most important standards adopted by ANEVAR are those related to the financial reporting and to the evaluation in view of loan guarantee pledging. “The application of the first standard will result in assets being registered in the companies’ accounting records at a fair internationally acknowledged value, which will help boost foreign investors’ confidence,” Adrian Crivii, ANEVAR chairman, said during the “International Evaluation Standards” conference organised by Fin Media. The application of the second standard will contribute, as Crivii says, to improving the measurement of the risk exposure of the credit institutions, as well as to the development of the mortgage credit in Romania. The new standards require evaluators to use the information on the market as much as possible when appraising an asset. “How much an asset is worth today is more relevant than the price paid for it a few years back,” explained Denis Grubb, Deloitte & Touche capital market consultant. ZF