Standardization of valuation activities in the field of property

Abstract

The present research paper demonstrates the relevance of standardization of valuation activities in the assessment of the market and other values of real estate. It characterizes the changes in the federal valuation standards that took place in the Russian Federation in 2022. It indicates the remaining elements of ambiguity in the federal valuation standards, which do not allow to ensure the rights of consumers of valuation services, to increase the objectivity of the performed calculations and conclusions of the market value of the object, which most adequately reflects the current situation on the market. The possibility of additional use of International Financial Reporting Standards and International Auditing Standards for clarification of the provisions contained in the federal standards of assessment. There are pointed out the necessity of developing the Methodological recommendations for the appraisal of different kinds of values named in the federal law on the appraisal activities and in the federal appraisal standards. A provision is formulated that the term cost should be used in two meanings: as an economic category and as a valuation index Interpretation of the concept of cost as an economic category is given. A proposal to increase the number of methods included in the cost approach has been made. The new method of the cost approach, the method of discounting the estimated cost with the help of which market cost of real estate can be estimated has been offered. The main conclusions and proposals are formulated.