3rd edition of IVS in Turkmen
In July 2021 the International Valuation Standards Committee (IVSC) has published the new edition of IVS with the entry into force on January 31, 2022. 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 based on the license agreement between IVSC and UET dated August 23, 2021. On 7th October 2023 at UET’s general assembly there was presented the translated Turkmen edition of IVS that became a great historical event in the development of professional valuation services in Turkmenistan. This edition of IVS continues the tradition of translating the IVS into Turkmen and is being the 3rd edition (first time IVS 2017 was translated into Turkmen by UET in 2018 and the 2nd edition was translated in 2020). The application of IVS by Turkmen appraisers in their professional practices will definitely improve a quality of valuation services and, accordingly, will increase a consumer’s trust in valuation profession in general.