CHAMBER OF PROFESSIONAL VALUERS (CPV)

Founded on 21st of May, 2009, the Chamber of the Professional Valuers is an independent, not-for-profit, private sector organization. It is founded on the principles of expertise, experience, integrity and honesty.

The Chamber's main objective is to support the activities of professional valuers in Bulgaria, providing the deployment and implementation of European and international valuation standards, observing the valuers' Code of Ethics and the introduction of best international practices in valuation.

• Organize and conduct courses for maintaining and raising the qualification level of professional valuers and to issue a certificate on completion of a course or on a specialization assignment of a valuer.

• Issue and approve manuals and other materials and publications, by which shall be carried out methodological guidance of the activities of professional valuers.

• Represent professional valuers in public, government bodies/public authorities and international organizations etc.

The principal areas of policy cover the following:

• Accounting Standards & Financial Reporting

• Education & Training

• Ethical Practice

• Professional Recognition in Bulgaria

• Valuation

Management authorities of the Chamber are the General Assembly, Management Board, Control Committee and Professional Ethics Committee. The Chamber is represented by the Chairman of the Management Board, who is also its Director/Manager.

The members of the Chamber of Professional Valuers are companies or individuals professionally practising the profession of Valuer;

The members of the Chamber are individuals or companies who cover at least one of the following conditions:

• Have at least 5 years experience as valuer;

• Considerable part of their annual income for the last 3 years is based on activities as a valuer.

The candidates for member of the Chamber should present two recommendations from actual members of the Chamber of the Professional Valuers when applying for the membership

The founders of the Chambers are its members by rights.

The Chamber of the Professional Valuers (CPV) could have as members: Bulgarian companies as well as foreign companies or individuals if they meet the membership requirements.

Current company members:

1. Arco Real Estate

2. Advance Valuations

3. Astreet

4. Bonka Boncheva

5. DFS REAL ESTATE LTD.

6. Elta Consult OOD

7. ENGINEERINGSERVICE Ltd.

8. Colliers International

9. AMRITA Consulting House Ltd.

10. KPMG Bulgaria OOD

11. PricewaterhouseCoopers Bulgaria EOOD

12. Kolarsky Consult

13. Forton International

14. Helony CO

15. Ernst & Young Bulgaria EOOD

16. YAVLENA IMPACT Ltd.

The Code of Ethics defines the basic rules and principles of professional activity of the Chamber of Professional Valuers (CPV). The Code is developed taking into account the best professional practices in various international Valuers Associations.

Members of the Chamber should:

• apply the valuer's methods and approaches in accordance with the best professional practices and approved standards;

• observe moral standards, objectivity, loyalty, competence and respect in interrelations with clients, with other consumers of the valuation services, and with the professional community;

• operate conscientiously when using confidential information;

• be competent in the field of valuation, to possess the required knowledge and skills, to constantly maintain the professional qualification in the field of valuation activity;

• observe moral standards and exercise unprejudiced opinion when reviewing other valuers' assessment reports.

Manuals and other materials and publications, by which shall be carried out methodological guidance of the activities of professional valuers.

The Chamber is member of International Valuation Standards Council (IVSC).