Brief History and Role
The Lithuanian Association of Property Valuers was established on 22 March, 1994 as a non-governmental professional organisation.
The Association plays a leading role in discussions with government on proposed legislative changes, publishes practice notes on valuation topics and co-operates in the formulation of national and international valuation best practice.
National Property and Business Valuation Standards were published in 2005 by Lithuanian Association of Property Valuers and the Lithuanian Association of Property and Business Valuation Enterprises.
Principal Activities
The aims of the Association are the following:
* to organise a non-state qualified system for valuation of different property and capital;
* to take care of training of specialists for valuation of property and capital;
* to accumulate and provide methodology and other assistance including information on valuation issues
The Association's activity is to create a new field of professional activity, and to form a favourable environment for it to grow in a transition of the economy.
As the valuation network was created, the following tasks had to be solved: arranging of professional education and certification, creation of a framework of guidance and regulation, assuring the quality of valuation services, seeking recognition as a profession.
From 1995 on, the lectures at the training courses were mostly given by the members of the Association who had been involved in preparation of the Property Valuation Guidance Notes, the tests of the certification examinations, and the lectures of national university.
The Association's experts are usually invited to lecture at the courses held by banks, insurance companies and some public agencies for their staff. Thus a winder audience is introduced to valuation issues.
Principal Areas of Policy
In the Valuation area of the Association work the principal areas are:
* to analyse experience of property valuation in other countries using it in professional activities of property valuers in the Republic of Lithuania;
* to prepare professional valuers training programmes;
* to organise valuers' training courses;
* to co-operate with state institutions in the field of development and implementation of valuation standards;
* to collect, store and provide information and research surveys related to valuers' professional activities for the Association's members;
* to develop relations with non-state and other organisations of the Republic of Lithuania;
* to develop relations with international and foreign organisations of property valuers and to participate in their activities;
* to keep accounts of evaluated property on data base
Organisation
The management bodies of the Association are the General Meeting (the Conference) of Members, the Board and the President.
The General Meeting of Members is the supreme body of management. All members of the Association have the right to participate there. The General Meeting of Members has the right to consider any problem within the competence of the Board or of the President.
Membership
Valuation companies and individual valuers covering the following areas:
* Immovable property valuation
* Movable property valuation
* Motor vehicle valuation
* Business valuation
Publications
Own Publications
* Recreational and Leisure Property Valuation around the Baltic Sea. Baltic Valuation Conference proceedings (2008)
* Lithuanian Property Valuers - 15 years' experience and future perspectives. Conference proceedings (in Lithuanian, English and French), 2009
* The economy and property value changes: trends and management measures. Conference proceedings, 2011
* Public and private assets: transformations, effective use and valuation aspects. Conference proceedings, 2012
* Annual electronic edition: The Writings of Property Valuation Theory and Practice, since 2009 (2009; 2010/2011; 2012; 2013)
EVS 2016
LTVA has translated the European Valuation Standards 2016 into Lithuanian.