The Saudi Authority for Accredited Valuers (Taqeem) launches its conference “The Reality and Future of Business Valuation in KSA” on the 3rd of November in cooperation with the International Institute of Business Valuation IIBV, which will last for two days at the Ritz-Carlton, Riyadh.
The conference opening is sponsored by the Saudi Minister of Commerce and Industry, and the chairman of the Saudi Authority for Accredited Valuers Dr. Tawfiq Al-Rabiah, with the participation of a number of specialists and international experts in valuation, from the International Institute of Business Valuation IIBV, including Mr. Lee P. Hackett, the member of American Society of Appraisers,Mrs. Mary Jane Andrews, the Investigative Forensic Accountant specialist, Mr. Michael Badham, the executive director of International Institute of Business Valuation IIBV. They will provide the best international practices and standards in this field and highlight on results of the market studycarried out by the Authority about the current situation of business valuation in KSA.This conference also introduces the proposed regulations by the Authority to manage the profession and explore the views of specialists and interested parties.
The agenda of the first day includesa special speech by the Minister of Commerce and Industry Dr. Tawfiq Al Rabiah, and another speech by the Secretary-General of the Authority, Mr. Issam Bin Hamad Al-Mubarak, and that will take place before the official conference launch, which reviews the valuation importance of all types and business valuation in Saudi Arabia,and the international standards used in valuation processes. In addition to taking special Initiatives for international qualifications requirements for business Valuers, and current business valuation market in Kingdom of Saudi Arabia, besides business valuation requirements in international financial reporting standards, which will be applied in 2017 in Saudi. The same day will contain an expanded panel discussion of on importance of quality valuation work by qualified independent professionals.
The second and final day of the conference – which will be sponsored by KPMG Al Fozan& Al Sadhan, Ernst & Young, and the Saudi British Bank (SABB)-will focus onthe role of international valuation standards and the international professional standards. In addition to special presentation ofdraft regulations andfeedback about it, by opening discussion regardingrequired academic education degree, training requirements, experience requirements, conflicts of interest, licensing and registration requirements, the special obligations of accredited Valuers andethics and code of conduct. As well as workshops associated with developing the business valuation profession to the pioneering professions rank.
It worth mentioning that Authority for Accredited Valuers (Taqeem) participates in Al Sharqia Exhibition for real-estate,housing and constructional development (Restatex Al-Sharqiya 2015), which is currently held in Al zahran International Center for Exhibitions and Conferences, under the patronage of His Royal Highness prince Saud bin Nayef bin Abdulaziz Al Saud, Governor of Eastern Province for four days.
