Edition 2020 Ninth edition
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a6048c931cdc93 TEGOVA EVS 2020 digital
(see EVGN 1)
on the basis of a representative sample of properties including the main findings of the assumptions and checks performed; • The review performed by banks according to Article 208 paragraph 3 point b) of Regulation (EU) n. 575/2013 which EVS interprets as meaning a 'revaluation'. 7.3. This Standard covers valuation review as defined under 7.2, first indent. 7.4. The review objectives are to: • Provide an assessment of the compliance of the valuation work under review with European Valuation Standards; • Examine the documents relied on and assess their proper and accurate use; • Identify any nonconformities and their impact on the conclusions. Note — The objective is not to provide a new valuation figure, as that would require a new valuation. 7.5. Apart from the elements needed to achieve the review objectives, the Valuation Review Report shall state at least: • The identity of the client and other intended users; • The intended purpose of the review, and intended use of the review results; • The professional independence requirements based on which the reviewing valuer shall express an unbiased opinion with no influence whatsoever from any third party; • Whether or not discussions with the original valuer have taken place; • The assumptions and special assumptions in the valuation review. 7.6. The scope of the review work must be clearly stated, in a manner that must not be misleading to either the contracting parties or any independent competent third party having legitimate access to the contract that covers the scope of work. 7.7. The Review Report must be clearly presented and must contain sufficient informa- tion so as not to mislead the client and the intended users about the review results. 72 I.A. - EVS 4: The Valuation Process European Valuation Standards 2020 7.8. The reviewing valuer must be: • A Qualified Valuer, as defined in EVS 3; • Independent from the valuer who originally performed the valuation; • In possession of (at least) all the facts and information relevant to the prop- erty on the date of valuation on which the first valuer relied. If the reviewing valuer does not have this information, or has it only partially, this must be clearly stated. 7.9. The requirements to be met by the reviewing valuer: • The reviewing valuer must assess compliance with the valuation standards ef- fective at the valuation date; • Whilst reviewing valuers may refer to sections of the reviewed report deemed relevant in backing up their assessment, they must specify to what extent they relied on the reviewed report under 'special assumptions'. European Valuation Standards 2020 I.A. - EVS 5: Reporting the Valuation 75 EVS 5 Reporting the Valuation The valuation must be presented in clear written form to a professional standard, transparent as to the instruction, purpose, approaches, bases, methods and conclu- sions of the valuation, as well as to the use to which it is to be put, as shown in the agreed terms of engagement. Download 1.74 Mb. Do'stlaringiz bilan baham: |
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