January 15, 2024

A new unified national assessment standard has been approved

On 01.01.2024, the Resolution of the Director of the Agency for State Asset Management “On approval of the Unified National Valuation Standard of the Republic of Uzbekistan” No. 3487 came into force.

The Unified National Assessment Standard (UNAS):

– defines the regulatory regulation of assessment activities;

– establishes requirements for the procedure for conducting an assessment and an assessment examination.

The UNAS includes general and special assessment standards and methods for them.

The common standards consist of National Assessment Standards (NAS):

NAS No.1 “Terms, definitions and principles of appraisal activity”;

NAS No. 2 “Assessment assignment”;

NAS No. 3 “Studies and analyses carried out in the assessment process”;

NAS No. 4 “Assessment report and the procedure for its preparation”;

NAS No. 5 “Types of value”;

NAS No. 6 “Assessment approaches and methods”;

NAS No. 7 “General requirements for internal quality control rules for appraisers”;

NAS No. 8 “Examination of the reliability of the assessment report”.

Special valuation standards define additional requirements for the procedure for evaluating certain types of valuation items (business, real estate, intangible assets, inventories, etc.) and consist of the following NASes:

NAS No. 9 “Business valuation and business participation rights”;

NAS No. 10 “Valuation of real estate”;

NAS No. 11 “Valuation of intangible assets and intellectual property objects”;

NAS No. 12 “Valuation of inventories”;

NAS No. 13 “Valuation of machinery and equipment”;

NAS No. 14 “Valuation of the public housing stock for privatization”.

The UNAS is intended for appraisers, appraisal organizations, and other users. It is mandatory for use in the provision of valuation services for assets and liabilities, the preparation of an assessment report, as well as when experts verify the reliability of the assessment report of the object of assessment.