Riyadh: The Saudi Authority of Accredited Valuers (TAQEEM) has released a pivotal document titled “Commitments of the Certified Valuer in Valuation under Uncertainty.” This initiative is part of TAQEEM’s continuous efforts to bolster valuation practices, thereby enhancing transparency and reliability within the market.

According to Saudi Press Agency, the document is grounded in international valuation standards as set by the International Valuation Standards Council (IVSC). This reflects TAQEEM’s dedication to aligning local valuation practices with a global professional framework. The document outlines the principal challenges faced by valuers during valuations conducted under uncertain conditions and offers practical guidance for the entire valuation process.

The guidance encompasses defining the scope of work, managing risks, verifying data, estimating assumptions, and preparing accurate and reliable reports. TAQEEM has distributed this document to all certified valuers through their electronic accounts, emphasizing the necessity for compliance with its stipulations.

This document is a testament to TAQEEM’s mission to empower valuers and beneficiaries of valuation services. By providing comprehensive guidelines, publications, and standards, it supports sound professional decision-making. Moreover, it underscores the authority’s commitment to advancing valuation practices in Saudi Arabia in line with international standards, thereby reinforcing the Kingdom’s position as a regional and global reference point for professional valuation practices.