2nd edition of IVS in Turkmen
In August 2019 the International Valuation Standards Committee (IVSC) has published the new edition of IVS with the entry into force from January 31, 2020. The National Public Organization “Union of Economists of Turkmenistan” (UET) - an official member of IVSC since 2016 - was granted with a right to translate into Turkmen and publish the IVS 2020 based on the license agreement between IVSC and UET dated September 9, 2019. The UET has presented the first preliminary Turkmen edition of IVS 2020 to the Ministry of Finance and economy of Turkmenistan (authorized body) on 2nd June 2020 that became a great historical event in the development of professional valuation service in Turkmenistan. This edition of IVS 2020 continues the tradition of translating the IVS into Turkmen and is being the 2nd edition (first time IVS 2017 was translated into Turkmen by UET in 2018). The application of IVS 2020 by Turkmen appraisers in their professional practices will definitely improve a quality of valuation service and, accordingly, will increase a consumer’s trust in valuation profession in general.