A valuation standard is a normative legal act in which an authorised body in the field of valuation activities establishes uniform requirements for entities engaged in valuation activities to determine the market or other value of the valuation object.

The Rules of the Chamber of Appraisers are a document developed and approved by the Chamber of Appraisers that determines the procedures for organising the Chamber of Appraisers’ activities and those of its members.

The Chamber of Appraisers’ Standard is a document developed and approved by the Chamber that establishes requirements for members to consistently use uniform, mandatory principles and characteristics in their services.

International Valuation Standards are valuation standards adopted by the International Valuation Standards Council.

The standards for appraisal activities include valuation standards and the Chamber of Appraisers’ standards.

A valuation standard affecting an area regulated by another government agency is subject to approval by the authorised agency in that area.

Valuation standards are developed in accordance with international valuation standards and must comply with the Republic of Kazakhstan’s valuation legislation.

The appraiser, in accordance with subparagraph 1 of paragraph 1 of Article 14 of the Law of the Republic of Kazakhstan “On appraisal activities in the Republic of Kazakhstan”, has the right to independently apply appraisal methods and approaches to appraisal in accordance with appraisal standards and/or) International appraisal standards, indicating the source.

In their work, appraisers are guided by the Valuation Standards approved by the Minister of Finance of the Republic of Kazakhstan on May 5, 2018, No. 519:

– Valuation Standard “Valuation of Movable Property”;

– Valuation Standard “Valuation of Real Estate”;

– Valuation Standard “Types of Value”;

– Valuation Standard “Valuation of Intellectual Property and Intangible Assets”;

– Valuation Standard “Valuation of Businesses and Business Participation Rights”;

– Valuation Standard “Valuation of Financial Instruments”.

The Chamber of Appraisers has the right to develop and approve, in agreement with the authorised body in the field of appraisal activities and the authorised body in the field of self-regulation, standards and rules of the Chamber of Appraisers that are mandatory for all its members.

Standards of the Chamber of Appraisers “Self-Regulatory Organisation “Commonwealth of Appraisers of Kazakhstan”

Rules of the Chamber of Appraisers “Self-Regulatory Organisation “Commonwealth of Appraisers of Kazakhstan”