What solutions to limit mistakes related to price appraisal and bidding?


According to the financial authority, the cause of the wrongs and negatives in the field of valuation over the past time is assessed to stem from objective and subjective factors: Objectively, the legal system is sometimes still weak. overlap, not synchronized; market information is less public and transparent; the customer provides information about the appraised property that is not truthful and complete; The implementation of bidding/auction has many regulations that lack transparency, causing many negative phenomena.

Subjectively, it is mainly due to violations of professional ethics in appraisal of prices, especially hooking up and colluding with price appraisal customers to falsify valuation results; unfair competition by lowering service prices, cutting down the appraisal process and reducing implementation costs; did not comply with the provisions of the law on appraisal of prices, standards of appraisal of prices (mainly in the stage of information collection and analysis).

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In order to promptly prevent possible violations, the Ministry of Finance has promptly and quickly implemented measures to strengthen state management in the field of valuation, such as: The provisions of law to improve conditions for the provision of valuation services, most recently submitted to the Government for promulgation Decree No. 12/2021/ND-CP dated February 24, 2021 amending , supplementing a number of articles of the Government’s Decree No. 89/2013/ND-CP dated August 6, 2013 detailing the implementation of a number of articles of the Law on Prices on price appraisal.

Organize annual knowledge updates for appraisers, focusing on reinforcing ethics in valuation practice; Assess and identify risks, update common errors in the valuation process. Strictly handle administrative violations in the field of price appraisal and publish them on the portal of the Ministry of Finance; Suspension and revocation of the Certificate of eligibility for business in appraisal of prices for enterprises that do not meet the business conditions as prescribed by law (29 enterprises in 2019, 25 enterprises in 2020, 26 enterprises this year). 2021); In the first quarter of 2022, suspending and withdrawing for 8 valuation enterprises, granting the Certificate of eligibility for business in appraisal services for the first time for 8 enterprises, re-issuing 41 times, issuing 8 Announcement on the publication of the List of price appraisers eligible to practice asset valuation in 2022 at valuation enterprises that have been granted Certificates of eligibility for business in valuation services; Continue to promote the construction of a national database on prices, step by step supporting the valuation profession with reliable sources of reference information, thereby helping to improve the appraisal quality…

In the long-term, the Ministry of Finance continues to implement solutions to more closely manage the business of valuation services, specifically: Studying and amending the Law on Prices to continue to consolidate and perfect regulations on management of valuation enterprises, practice price appraisers in order to prevent and handle collusion in price appraisal; Reviewing and perfecting the system of standards for appraisal of prices, ensuring it is suitable to the actual conditions of Vietnam, international and regional valuation standards.

Strengthening activities of management, inspection, supervision and evaluation of the quality of valuation activities of price appraisal enterprises. Focus on building content to update knowledge for appraisers on price related to information collection, analysis and processing; In-depth operations of the profession, especially continuing to update contents in order to improve the ethics of valuation practice. Consolidate and complete the construction of the National Price Database as a reference base when conducting valuation and valuation.

The South

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