Brief History and Role
From the outset in 1994, USoA played a central role in the development of valuation as a professional activity in Ukraine. It developed and gained acceptance for a Code of Conduct and Ethics that became the basis for setting of the fundamental criteria for delivering valuation services to the business community and to society. This was followed by the State Law draft "On appraisal of property, property rights and professional appraisal activity in Ukraine" that led to four national valuation standards issued in 2003-2007.
Principal Activities
They are as follows: valuation methodology development, valuation database creation, development of valuation standards, rules and guidance, monitoring and control of national standards and adherence to rules, review of valuation reports, valuers' professional training and certification.
Principal Areas of Policy
Gradual adaptation to internationally recognised valuation standards and practice, non-discriminatory principles of operation, publicly transparent activity, market approach, high level of professionalism and competence.
Organisation
The Ukrainian Society of Appraisers was founded in 1994 as a professional public organisation uniting experts in the field of asset valuation. UTO has a 48-strong Governing Council as well as a council of experts and nine committees with 22 regional branches covering the entire territory of the Ukraine.
Membership
The UTO Statutes allow membership by individuals. For valuation companies an accreditation procedure is available.
Publications
Ukrainian Law draft "On appraisal of property, property rights and professional appraisal activity in Ukraine" dated 12.07.2001 No. 268-III;
4 national valuation standards of Ukraine which constitute the legal basis of valuation activity in the Ukraine;
Quarterly Bulletin "Visnyk otsinki" (Valuation News).
Other
Member of International Valuation Standards Council (IVSC).
