Brief History and Role
The Latvian Association of Property Appraisers was founded in January 1995.
Principal Activities
1. To set up and develop a qualified property valuation system, corresponding to the requirements of conventional valuation practice and development of market economy in Latvia.
2. To set up and develop a complete educational and training system for property valuers.
3. To master the world's most progressive valuation methods and approaches and popularise them in Latvia.
4. To consult clients concerning property valuation.
Principal Areas of Policy
The Association, together with its members and specialists from other institutions, has determined the following tasks:
1. Working out the regulations for real property valuers, including Code of Ethics.
2. Elaboration of the National Valuation Standards consistent with International Valuation Standards and the European Valuation Standards.
3. Establishing and developing of a training system for the valuers.
4. Developing contacts between the Association and international organisations of property appraisers.
Organisation
The Association operates according to the principles established in its statues. Annually the general meeting of the association members elects the president and vice-president and the board, consisting of 6 members, as well as the Auditing Commission.
The head of the administration is the President. In the periods between the annual meetings the work of the association is guided by the Board. The Board has regular meetings, at least once per month, solving current matters related to the operations of the Association.
The work of the Association is carried out by 6 committees and 7 commissions, each chared by a Board Member.
The certification body of real property valuers is the Appraisers Certification Bureau, a sub-structure of LIVA, accredited according to the LVS EN ISO/IEC 17024 standard.
Membership
According to the by-laws of the Association, there is three-grade membership.
1. Members of the Association are accepted professionals, certified by the Association in any valuation category.
2. The grade of Candidate is awarded to natural persons, having acquired the appraisal profession or continuing professional education in a college or higher educational establishment recognised by the Association and who are working as valuers.
3. Affiliate Membership may be granted to any legal person who works in the valuation profession field.
The mandatory requirement for all the three grades of members is determination to foster the implementation of the objectives set forth by the Association, adherance to the Statues of the Association and payment of the membership fees.
Professional Certification
LIVA is an authorised institution responsible for certification of appraisers in the following valuation categories:
* real property valuation
* business and intellectual property valuation
* valuation of personel, plant and equipment
* overland transport valuation
* air transport valuation
* water transport and ship valuation
* jewellery and antiques valuation
According to the certification system of property valuers, the requirements for obtaining professional appraisal practice certificate in Latvia are the following:
* Higher professional education in valuation or higher education and adequate post-graduate education in corresponding valuation category
* At least three years experience in valuation
* Being a member or candidate of LIVA
* Continuous improvement of qualification through educational courses
To pass the certification an appraiser must demonstrate his knowledge in valuation theory and illustrate his practical experience.
Presently Latvian Association of Property Appraisers has issued the following certificates in property appraisal:
* 72 - in real property appraisal
* 8 - in business and intellectual property valuation
* 14 - in valuation of personel, plant and equipment
* 1 - in jewellery and antiques valuation
Publications
To be completed soon
