Regulating the valuation profession
Last week an emergency ordinance that regulates the valuation as a profession was released, this is truly a milestone in the evolution of this profession in Romania. In nearly two decades of existence ANEVAR (Romanian Association of Valuation) played a determinant role in the birth of this important profession in a market economy architecture and starting from this year forth this profession will be organized, licensed and regulated by an independent body named Unevar (Romanian National Valuation Union) created and recognized by the Romanian Government. This decision is important because it ends the discussions about “who is an authorized valuer in Romania”.
In this historical moment the effort made in nearly two decades by the Association and the activists in order to promote the profession, the valuation and the ethical standards has to be recognized. More important is the fact that these progresses were made without any interference and without any financial support from the State or the Public Authorities.
Anevar a Public Concern Professional Association successfully accomplished it’s role to make this market economy profession an useful and recognized one today. The valuation profession is recognized by the public as also by some of the most important State institutions. One of the main activities was to support the training and the continuing education seminars attended by tens of thousands of students from all counties. This was the way in which a professional body of valuators that had an important role in the privatization, creditation and real estate capital markets was prepared. Also Anevar introduced and promoted the International Standards of Valuation in Romania since 2003, which increased the investors confidence in the transparency of the Romanian market economy, facilitating capital flows.
This governmental initiative comes in a key moment and represents a step forward in strengthening the regulation and the confidence in the financial and banking services area and also in the real estate industry.
I consider this a useful and welcome initiative and the emergence of this body could lead to a growth in professionalism of the valuators and also the quality of the working process. This fact will have benefic consequences in strengthening the image of the profession and its image in the public and state institutions.
Dr. ec. Adrian Crivii, MAA, REV, FRICS