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Analysis on the difference of the quality evaluation standard of asset appraisal in China

Author: WeiJingHong ZhaoLiMing From: www.yourpaper.net Posted: 2010-06-11 06:19:16 Read:
Keywords:   the assets assessment; practice quality evaluation standard of
Abstract: asset assessment information supply, demand and regulators is asset assessment activities related to the interests of the main.Through the analysis of the difference of their different expectations and the quality evaluation of the results of assets evaluation standard, and puts forward some concrete measures for the assets appraisal quality evaluation criteria from four aspects to coordinate the interests of all parties, the establishment of a unified.That is based on public interests, to develop a unified industry standard; clear asset evaluation related parties responsibility; step up publicity. Increase public awareness; strengthening the supervision of assets appraisal.
Asset evaluation is an important prerequisite for transactions of property rights, assets reorganization, the company listed economic behavior such as smoothly, because the assets assessment results directly affect the interest the economic behavior of economic benefits, therefore, assets appraisal quality has become the focus of attention of related parties.However, how to evaluate the quality of the valuation, different stakeholders have different standards, asset evaluation information demand, supply and regulators have different expectations for the assets assessment results, assets evaluation criteria of quality also has a certain gap, and the resulting current assets evaluation the quality of the doubt, this affected the development of Chinese assets valuation industry to a certain extent.Based on the analysis of these problems, and puts forward the Countermeasures of asset appraisal standard quality assessment to establish a unified.
, assets appraisal information demand and the valuation of assets evaluation criterion of quality
Quality is defined as "the entity that satisfy the explicit and implicit need ability characteristics of the sum" in ISO9000, judging the assets appraisal quality must also consider the assets assessment of the information needs of the expected.Asset evaluation information demand is the main asset owners and stakeholders, including representatives of state-owned assets property owners to government departments, with a wide range of potential investors in the capital market and enterprises or units of the shareholders.
1 state-owned assets owners of assets evaluation criterion of quality is to prevent the loss of state-owned assets based on the asset business, ensure smooth expectations.The government as a representative of ownership of the state-owned enterprises, is the main demand of China's assets appraisal information.At present, the state-owned assets supervision and Administration Commission at all levels (hereinafter referred to as the SASAC) on behalf of the government to fulfill its responsibilities in charge of state-owned, state-owned assets supervision and management of the enterprise, when the property changes or matters related to the state-owned assets, the assets assessment results as an important basis for the state-owned assets management departments to determine the property transaction price, make the relevant decision.
As the owner of state-owned assets, state-owned assets supervision and Administration Commission to require evaluation institutions in accordance with the standards of assets evaluation to evaluate the quality of asset appraisal standard, objective, fair to carry out asset assessment, the assessment results can reflect the assessment of the assets of the market situation, to prevent state-owned assets loss, ensure that the relevant assets business smoothly, make the property right of state-owned the owners of the assets of the legitimate rights and interests of maintenance.
2 in the capital market, the existing shareholders and potential investors to assets appraisal quality have different expectations.In the capital market of the asset appraisal information demand is listing Corporation's existing shareholders and potential investors.
Existing shareholders of listing Corporation according to their own interests, the valuation of assets quality evaluation criteria must be not less leakage assessment, assessment of enterprise assets, even when possible to evaluation of assets, to lift the company's share price, to create a good social reputation; and potential investors in the capital market in a relatively inferior position, the evaluation of the quality evaluation standard for asset evaluation agencies cannot collude with enterprises, and should stand on the position of justice, the enterprise with the value of the assets to provide objective, impartial professional advice, as investment decision-making reference, in order to reduce blindness in investment, to protect their own interests.
3 different parties in the asset market location will be the quality of asset evaluation have different evaluation criteria.Economics theory tells us, in the normal property transactions, buyers always want to buy at the lowest price, and the seller will always want to sell at the highest price.The results of assets evaluation is the important basis for property owners to determine the transaction price of assets or achieve some economic behavior, when the assets assessment of client assets buyer, he will want to underestimate the value of the assets, and will provide the relevant information to influence the assets assessment of assets value judgment, so as to achieve their own value judgment on the assets of the psychological expected value.As in the restructuring of state-owned enterprises or the transfer of property rights, assets assessment project, the existing enterprise managers to buy assets at lower prices, they will want to underestimate the value of the assets, and that the underestimate is reasonable.When the client is asset seller.He hopes to overestimate the value of the assets evaluation institution, so as to achieve their own assets of high value of the psychological expectations.As in foreign investment, mortgages and other assets assessment project, in order to occupy a larger share of the investment of the enterprise or project or get more loans from banks, the client will often agree to overstate assets value.
Thus, the principal of the asset appraisal criterion according to different evaluation purposes, they hope to achieve through the assets assessment from the purpose of profit, they are often assessment of asset evaluation quality standards on assets expected psychological price.
From the above analysis we can see that, although the government departments, capital market and client are standing on the demand point of evaluation quality evaluation, but due to the different demand expected by assessing the purpose is different, causing them to the valuation of assets quality evaluation standards are also different.
standard and its evaluation to evaluate the quality of two, asset evaluation information provider
Asset evaluation information providers are assets assessment institutions and personnel engaged in asset valuation services.As the asset appraisal information providers, asset appraisal institution has two main requirements for assets assessment information provided by: on the one hand to ensure that the report of assets evaluation results and issued to get regulatory approval, passed in review.China's current state-owned assets assessment is the implementation of the audit, filing system, the project assessment of major state-owned assets, to read the relevant management department, such as the state-owned assets supervision and Administration Commission, the Commission and other departments, only through the Department of asset evaluation report is the law the relevant effect.[2] therefore, report to the relevant administrative departments audit asset evaluation, asset appraisal institution is an important standard of judging the quality of assets appraisal, assets appraisal institutions is focus attention.At present, the assets assessment management audit quality of asset evaluation is based on the "assets assessment practices opinion (Trial)", "asset evaluation report content and format of the Interim Provisions", "assets valuation standards -- basic standard" specification on the other hand, the asset appraisal institution as the independent market main body, to ensure survival. And the development of their own, in the premise of practice in accordance with the standards and norms of industry regulations, to provide satisfactory service for the customer, the assessment results and the evaluation report need to consider some of the requirements of customers.The successful completion of project evaluation and customer recognition is an important factor in asset evaluation institutions to judge the quality of practice.Therefore, in essence, the evaluation process of the assets of the asset appraisal institution is the two aspects of balance, coordination process, and assets evaluation report is the embodiment of interest coordination results.
The relationship between supply and demand in the market assessment of business assets at.At present our country asset evaluation institutions to the development of faster, but the asset appraisal business expansion speed is relatively slow, the competition between the asset appraisal institution condition.The huge competition pressure will affect the reliability of the assets appraisal information to some extent, the entrusting party in order to achieve a specific purpose, use a strong position to induce or threat assessment agencies for assessment by the results they have, otherwise there would be no payment or to other institutions, causing some institutions to accommodate the requirements of the principal, manipulation of asset valuation to meet the client's expectations.
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