Designation	Name	Summary
Basic standards of the Russian Society of Appraisers (ROO)
STOROO 10-01-95	System normative documents Russian Society of Appraisers	The concept of the development of standardization in the field of property valuation is outlined
STO ROO 10-02-95	Declaration of the Russian Society of Appraisers	The main goals and objectives, rights, duties and responsibilities of the members of the ROO to consumers of property valuation services are determined
STO ROO 20-06-96	Classifier of property valuation services	Systematization of appraisal objects, taking into account the goals of providing appraisal services. The classifier contains such basic types of services as the valuation of real estate and movable property, the valuation of intangible and other assets, the valuation of property complexes (industries)
STO ROO 27-01-95	Code of Professional Ethics	The fundamental provisions and criteria are set out that determine the requirements for the professional practice of members of the ROO, including ethical standards of conduct that ensure the protection of the interests of consumers of assessment services.
STO ROO 20-01-96	General concepts and evaluation principles	Contains a description of the basic concepts used in the ROO standards for the valuation of various types of property. These include the concepts: land and property, real estate and movable property, intangible assets, price, cost, market and value, market value, most efficient use, utility, etc.
STO ROO 20-02-96	Market value as a basis for evaluation	The general definition of the concept is revealed market value as an expression of exchange value, the monetary value of which is determined by open market subject to all necessary conditions of free sale. A description is given of the main approaches to comparing sales, income and cost approaches that ensure the determination of value in property valuation.
STO ROO 20-03-96	Valuation bases other than market value	Contains provisions clarifying cases of non-market valuation methods. These methods are used when valuation is not possible due to lack of market information.

Continuation

Designation	Name	Summary
STO ROO 20-04-94	Valuation for the purposes of financial reporting and related documentation	The concept of market value used as the basis for financial reporting is considered, general concepts and principles necessary for valuing assets in order to reflect price movements in financial reporting are given.
STO ROO 20-05-96	Valuation of loan collateral, collateral and debt obligations	Establishes the procedure for valuation of property for the purposes of loan security, mortgage lending and security of debt obligations; determines the principles in accordance with which it is necessary to conduct an assessment of property on the instructions of credit institutions and other organizations
STO POO 21-01-95	Professional standards in the field of real estate valuation	The main requirements for the qualification of appraisers, the composition of the initial information, the content of the report on the results of real estate valuation are outlined.
STO POO 22-01-96	Valuation of production facilities, machinery and equipment	Describes assets related to production facilities, machinery and equipment. Provides definitions of cost concepts, costing methods and procedures, and requirements for valuation reports
STO POO 24-01-96	The cost of an operating enterprise as a basis for valuation	The main criteria necessary for determining the value of an operating enterprise as a basis for valuation are outlined; introduced the concept of use value of assets that are part of an operating enterprise. Differences between the concepts of "the cost of an operating enterprise" and "the cost of certain types of property" included in its composition are established. The concept of "value created by the functioning of the established production" is introduced, determined by capitalization of profit
STO ROO 26-02-96	Valuation of intangible assets	Identifies objects, establishes definitions of value, methods for valuation of intangible assets, which consists in determining the flow of profit of a functioning enterprise attributable to the share of assets being valued during its service life, as well as valuation of intangible assets as separate object
STO ROO 26-01-95	Valuation of intellectual property objects	Contains features of determining the value as a separate object of intangible assets

Continuation

Designation	Name	Summary
STO POO 23-01-96	Mineral valuation	The general concepts, principles and criteria necessary for the evaluation of mineral resources, such as oil production of mines, quarries and pits, except for machinery and equipment used in the mining process, are presented.
STO ROO 23-02-96	Valuation of forest resources and forest lands	Identifies assets related to forest resources and forest land. Establishes the concepts of value, methods for the content of reports on the valuation of this type of property
STO ROO 25-01-96	Consideration of environmental factors in the assessment process	Establishes requirements for the valuation of any type of property in conjunction with other valuation standards in cases where it is known that environmental factors may affect the market value of the property being valued
Voluntary certification standards for property valuation services
STO ROO 30-02-96	Regulations on the central certification body	The central body is created by orders of the president of the ROO; in its activities is guided by the current legislation and regulations on it, organizes the training of experts, improves organizational and methodological documents, accredits certification bodies and training centers for the training of experts
STO ROO 30-03-96	Requirements for experts and the procedure for their certification	Establishes requirements for the level of education, the procedure for certification of experts, indicating the ability of an expert to objectively and competently carry out certification work in a particular area appraisal activities and accreditation of bodies for the right to certification.
STO ROO 30-04-96	Certification procedure	The objects of certification are defined: the results of the activities of legal entities, private entrepreneurs, the use of a software product in property valuation, the level of qualification of an appraiser. Contains a list of required documents, establishes the stages of certification, elements of the final inspection during certification according to a certain scheme, as well as the procedure for inspection control and procedures for considering appeals ___

Continuation

Designation	Name	Summary
STO R00 30-06-96	Model regulation on the certification body	Defines the status of the certification body as independent. The functions, rights and obligations of the certification body, responsibility and organizational structure are given; established requirements for personnel, the procedure for maintaining documentation, ensuring confidentiality; outlines the procedure for considering appeals and forms of interaction with the central certification body and other organizations
STO ROO 30-07-96	The procedure for accreditation of educational units	The procedure for accreditation of educational units for specific specializations is given: analysis of educational and thematic plans, curricula, etc. teaching materials and manuals, plans for systematic professional development of teaching staff. The procedure for monitoring the activities of these units and extending the validity period, canceling the accreditation certificate is formulated.
STO ROO 30-12-96	Model Expert Training Curriculum	A set of issues is considered that provides the acquisition of knowledge and skills necessary to perform work on the certification of property valuation services; the content of the program is implemented in the form of lectures, conducting other types of classes: business games, analysis of specific situations, examination of reports, targeted internships
STO ROO 30-09-96	Compliance mark	The form of the sign of conformity informing the consumer and other interested parties about the certification of the service and the issuance of a certificate of conformity with the requirements of the standards is given. The sign is used to mark the results of property valuation services: expert opinions, reports, documentation of application packages
STO ROO 30-10-96	The procedure for maintaining the register and registration of objects and certification participants	Determines the procedure for registration and inclusion in the register of the System of documents for certification of objects, accreditation of bodies, certification of certification experts

test questions

1. What forms of regulation of valuation activities can be applied? By what means is the regulation of the appraisal
activities?

2. What documents exist to regulate valuation activities at the international level? Does Russia have the right to use them? Which organization is the representative professional interests appraisers of Russia at the international level?

3. What are the reasons for the licensing of valuation activities in the USA? What standards are currently required in the US?

4. How is self-regulation carried out in Europe? What standards are adopted at the European level and what is their
practical significance?

5. How is the process of regulation of valuation activities in
Russia? What standards can be applied when assessing different types of property?

6. What is the evaluation service certification process? How
Are professional appraisers qualified and certified abroad and in Russia?

Tests

1. Who sets the criteria for the regulation of valuation activities?

a) the professional community of appraisers;

b) evaluating company;

c) state bodies;

d) an audit company;

e) user of assessment services.

2. Which body is authorized by the Government of the Russian Federation to control the implementation of valuation activities in Russian Federation?

a) Ministry of Taxes and Dues of the Russian Federation;

b) Russian Federal Property Fund;

c) Ministry of Property Relations of the Russian Federation;

d) Moscow Licensing Chamber;

e) Financial Academy under the Government of the Russian Federation;

f) Russian Society of Appraisers.

3. What regulatory document first introduced the licensing of valuation activities in the Russian Federation?

a) Federal Law "On appraisal activities in the Russian Federation";

b) Federal Law "On Joint Stock Companies";

c) International Valuation Standards;

d) Federal Law “On Insolvency (Bankruptcy)”;

e) Standards of the Russian Society of Appraisers.

4. Which organization develops International Valuation Standards?

a) Ministry of Property Relations of the Russian Federation;

b) International Valuation Standards Committee;

c) The European Group of Valuers Associations (TEGoVA);

d) Russian Society of Appraisers;

e) United Nations Organization.

5. Which of the following organizations is the authorized representative of the Russian Federation in the International Committee for Appraisers and in the European Group of Appraisers' Associations?

a) Russian Society of Appraisers;

b) Russian Union of Appraisers;

c) Ministry of State Property of the Russian Federation;

d) National Chamber of Appraisers;

e) All of the above organizations.

chapter 5 Information support

in real estate appraisal, technical expertise and description

STANDARD OF THE RUSSIAN SOCIETY OF APPRAISERS

CONSIDERATION IN THE PROCESS OF ENVIRONMENTAL FACTORS ASSESSMENT

Basic provisions

Sto roo 25-02-98 Foreword

Designed by Ushakov E.P. – Central Economics and Mathematics Institute of the Russian Academy of Sciences, Doctor of Economics

1. Adopted as a basis by a resolution of the Board of the Russian Society of Appraisers.

2. Introduced for the first time.

3. This standard implements the principles used by The International Asset Valuation Standards when developing international valuation standards.

4. The standard fully complies with the Charter of the Russian Society of Appraisers (ROO), registered by the Ministry of Justice of the Russian Federation on September 1, 1995 (registration certificate No. 3054).

5. Information about the standard was sent to the Federal Standards Fund of the State Standard of the Russian Federation.

This standard cannot be fully or partially reproduced, replicated and distributed as an official publication without the permission of the Board of the Russian Society of Appraisers.

Introduction

The purpose of this standard is to provide valuers with a methodical approach to assessing environmental factors where these may have an impact on the value of the property being valued.

This standard deals with general concepts, principles and methodological approaches to the assessment of environmental factors that affect the value of the property being valued.

The fundamental principle of the application of this Standard is the Appraiser's orientation to the market basis of real estate valuation, while observing the objectivity and adequacy of the reflection of the entire valuation procedure. This Standard is also appropriate for assessing the impact of environmental factors on the value of a property when the application of the market value category is not possible.

1 area of ​​use.

1.1. This standard is applicable to all types of valuation of real estate, as well as machinery and equipment. The standard is used in conjunction with other valuation standards and is focused primarily on the valuation of real estate, for which taking into account the impact of environmental factors on the level of their market value is very relevant.

1.2. As tax, environmental and socio-economic legislation develops and improves, a number of provisions of this Standard may be modified. At the same time, any deviation from the standard in the conduct of valuation activities must be noted and explained in the valuation report.

2. Regulatory references

The following standards are used in this document;

– GOST R 1.0-92 State standardization system of the Russian Federation. Basic provisions.

– GOST R 1.4-93 State standardization system of the Russian Federation. Industry standards, enterprise standards, standards of scientific and technical, engineering societies and other public associations. General provisions.

– GOST R 1.5-92 State standardization system of the Russian Federation. General requirements for the construction, presentation, design and content of standards.

– International Valuation Standards of the International Property Valuation Standards Committee (IVSC). General concepts and principles of evaluation. 1994

– International Valuation Standards of the International Property Valuation Standards Committee (IVSC). MSO-1. Market value as a basis for valuation. 1994

– International Valuation Standards of the International Property Valuation Standards Committee (IVSC) . MSO-2. Valuation bases other than market value. 1994

– International Valuation Standards of the International Property Valuation Standards Committee (IVSC). MSO-3. Valuation for the purposes of financial reporting and related documentation. 1994

– International Valuation Standards of the International Property Valuation Standards Committee (IVSC). MSO-4. Valuation of loan security, collateral and debt obligations. 1994

– International Valuation Standards of the International Property Valuation Standards Committee (IVSC). MSO-5. (draft, December 1994). The cost of an operating enterprise as a basis for valuation.

– Civil Code of the Russian Federation, Parts 1 and 2.

– Federal Law “On Nature Protection”.

– Federal Law “On Ecological Expertise”.

- Decree of the Government of the Russian Federation of 28. 08. 1972 No. 632.

- STO ROO 10-01-95. The system of normative documents of the Russian Society of Appraisers. General provisions.

- STO ROO 20-01-96. General concepts and principles of evaluation.

- STO ROO 20-02-96. Market value as a basis for valuation.

- STO ROO 20-03-96. Valuation bases other than market value.

- STO ROO 20-04-96. Valuation for the purposes of financial reporting and related documentation.

- STO ROO 20-05-96. Valuation of loan security, pledge and security of debt obligations.

- STO ROO 20-06-96. Classifier of property valuation services.

- STO ROO 22-01-96. Grade production means, machinery and equipment.

- STO ROO 21-02-96. Valuation of real estate owned by insurance companies and pension funds.

The Russian Society of Appraisers is a member of the International Committee for Valuation Standards (IVSC) and is engaged in the standardization of valuation activities.

Currently, a collection of ROO standards has been released, containing more than 30 standards. Their use is intended to ensure the process of property valuation and certification of services.

The list of standards of the Russian Society of Appraisers includes:

· System of normative documents ROO.

· Classifier of property valuation services.

· Declaration of ROO.

· Code of professional ethics.

· General concepts and principles of evaluation.

· Market value as a basis for valuation.

· Valuation bases other than market value.

· Valuation for the purposes of financial reporting and related documentation.

· Evaluation of loan security, collateral and debt obligations.

· Standards of professional activity in the field of real estate appraisal.

· Evaluation of production facilities, machinery and equipment.

· The value of the existing enterprise as a basis for evaluation.

· Valuation of intangible assets.

· Evaluation of objects of intellectual property.

· Evaluation of mineral raw materials.

· Assessment of forest resources and forest lands.

· Consideration of environmental factors in the assessment process.

The main focus of the ROO normative documents being developed is the protection of the rights and legally protected interests of consumers, society and the state. In contrast to the previously used regulatory documents, where it is given detailed description justification and calculation methods, the ROO documents contain, first of all, the characteristics of the assessment based on the requirements of consumers - this is a flexible system.

Lecture 5 2.3. International standards.

By the end of the 70s. The development of the international financial system and the globalization of markets have reached a stage where there is an urgent need for international valuation standards.

In 1981, the International Committee for Valuation Standards of the IVSC was established.

The main objectives of the creation of the ICSO are.

1. Develop and publish valuation standards and guidance on asset valuation procedures for use in financial statements and promote their implementation and acceptance worldwide.

2. To ensure the harmonization of the standards of different countries and to identify differences in the wording and application of standards.

3. Seek recognition of international standards in reports prepared in accordance with international financial or other reporting standards, and awareness by appraisers of what is required of them in accordance with the standards of other professional disciplines.

IVSC is affiliated with other organizations:

1. International Financial Reporting Standards Committee.

2. International Federation of Accountants.

3. International Audit Committee.

4. international organization of securities commissions

The ICSO also participates in other organizations such as the UN. In May 1985, the Economic and Social Council of the United Nations assigned the ICCO consultative status with inclusion in the appropriate register.

In 1994, the second edition, the most famous in our country, this edition was supported by 40 countries participating in the ICSE.

In 1999 – the first edition in Russian of international standards.

July 26, 2001 - A new edition of International Valuation Standards (IVS-2001) is presented at the 1st World Congress of the International Real Estate Society in Alaska.

IVS-2001 include:

1. An introductory section on the general principles and concepts of valuation that serve as the basis for each of the standards.

2. Standard 1 - Market value as the basis of valuation.

3. Standard 2- Bases other than appraised value.

5. Guidelines 1-10.

6. Comments 1-3.

7. Glossary of terms; Index.

The guidelines provide guidance on specific valuation issues and the application of the standards to more specific business and valuation service situations.

We present to the attention of the members of the All-Russian public organization"Russian Society of Appraisers" and consumers of appraisal services Code of standards and rules ROO 2015 (SSO ROO 2015).

With the adoption and implementation of new federal valuation standards in 2015, the process of forming at the federal level the basic principles and methodology for valuing the market (and other) value of real estate, machinery and equipment, intangible assets and intellectual property, and business was completed.

The publication of the MTR ROO 2015 is an extension and update of the MTR ROO 2010, which laid a new trend in the methodological support of the professional activities of appraisers - the formation of a system of regulatory and methodological documents (SNMD) of the ROO.

The first level of SNMD ROO contains ROO standards and rules that contribute to the standardization of valuation activities in the Russian Society of Appraisers. The main provisions of the SNMD and the procedure for developing, reviewing, adopting, applying, amending and canceling standards, guidelines and rules of the ROO allow, within the framework of a single system and a single format, to develop new standards, rules and methodological recommendations of the ROO on topical issues of methodological support for valuation activities.

The second level of SNMD ROO contains ROO assessment standards, which, in fact, are identical to the texts of federal assessment standards.

The third level of the ROO SNMD includes methodological recommendations of the ROO, which more fully reveal the principles of valuation laid down in the Federal Valuation Standards (which are mandatory for appraisal activities in Russia) and contribute to improving the quality and reliability of various types of property valuations performed by members of the ROO. In the methodological documents of the ROO adopted and put into effect in 2015, the issues of using the method of economic substitution of assets were considered; application of premiums and discounts for the presence or absence of control elements in the evaluation of blocks of shares and stakes in the authorized capital of companies; valuation of intangible assets and intellectual property; reconciliation of the results obtained different approaches; applying the discounted cash flow method in real estate valuation; disclosure of the uncertainty of the evaluation results; examination of assessment reports (requirements for an expert opinion).

The Russian Society of Appraisers has always supported and continues to improve the system of methodological and information support professional activities of its members. The development and application of standards, rules and guidelines, the initiative for which comes from the members of the RPO, always finds a response and support from the management, self-government bodies, and the executive directorate of the RPO. At the same time, appraisal firms - members of the ROO Partnership should not stand aside. By joint efforts, we are able to improve our methodological activities, the goals of which are to deepen, detail and improve valuation standards and rules in all areas of professional valuation activities.