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Slovene Institute of Auditors

• Non-profit professional organization, established in September 1993.
• Based on Auditing Act (coordinated according to EU directive)
• Member of IVSC since 2002
• IVS mandatory since 2004
• Member of TEGoVA since 2014

Slovene Institute of Auditors

 

Certified appraisers
 
09
10
11
12
13
Now
 
CAGR
2009 - 2013
BV
59
64
65
65
70
75
 
4%
Real estate
58
69
73
81
88
94
 
11%
Machinery
15
15
16
16
12
11
 
-5%
Total
132
148
154
162
170
180
 
7%

Graph

Graph

 

No. of valuation assignments per discipline

 
May 2009–
May 2010
May 2010-
May 2011
May 2011-
May 2012
May 2012-
May 2013
BV
259
430
317
387
Real estate
2.003
3.265
3.263
3.311
Machinery
n/a
248
189
143

 

Valuation standards and principles

SIA member of IVSC since 2002 – IVS standards mandatory for all Slovene appraisers since 1.1.2004.

Hierarchy of valuation principles (mandatory for all appraisers)

a) Level 1:
  Auditing Act
  • IVS 2013 (translated)
  • Slovene Valuation standards (currently 7 standards)
  Code of Ethics
b) Level 2:
  • TIPs issued by IVSC (currently 4 – all translated)
  • Explanatory note No. 1: Content of Valuation Report
  • Guidance No. 1: Secured lending – real estate valuation
c) Level 3: Other standers, principles and valuation literature

 

Certification program SIA

How to become Certified Appraisers

2 stage process (mandatory in order to obtain certification)

a) Stage 1 – enroll in the program and successfully complete education
b) Stage 2 – apply for working permit

Stage 1 requirements

To enroll in the program:
university degree
five years of working experience in the field requiring the knowledge necessary to carry valuation assignments
examination of professional competence
no conviction for commercial or property crime
   
Educational program
on average 7-8 exams (approx. 180 – 200 hours)
valuation case based on real data - defended in front of the committee

Stage 2 requirements

Apply for valid working permit:
granted for 2 years based on prior working experience
extended for 2 years based on continued education
Only appraisers with valid working permit are entered in the public register
Only appraisers with valid working permit are allowed to represent themselves as CERTIFIED VALUERS

 

Regulation – Public oversight
Based on  Auditing Act (applies for Auditors and Certified Appraisers)
Monitored by Agency for Public Oversight of Auditing
Conducted as:
Regular planned reviews of appraisal reports (appraisers submit appraisal logs to SIR annually– basis for oversight)
Each appraisers is subject to public oversight on average every 3-4 years
Oversight based on user requests (rare)
Oversight consequences:
Public warning
License withdrawal

 

Documents