Polish Valuers' Federation Voted Onto TEGoVA Board
At the General Assembly of The European Group of Valuers' Associations (Tegova) held in Athens on 29 April 2006, The Polish Federation of Valuers' Associations (PFVA) was for the first time elected onto the Tegova Board. The Polish Federation has been a member of Tegova since 1994.
The General Assembly was attended by delegates representing some 45 valuers associations from across Europe.
The PFVA will be represented by Krzysztof Grzesik who was elected with 4 other new members as follows:
Roger Messenger (UK, IRRV)
Frank Merk (Netherlands, NVM)
Bertrand Wasels (France, SNPI)
Elias Ziogas (Greece, SOE)
The above will join 3 existing members namely, Chairman, Alfons Metzger (Austria, OII) Alexander Benedetti (Italy, ISIVI) and Wolfgang Kalberer (Germany, VDP)
The newly constituted board proceeded to elect Bertrand Wasels as Vice Chairman, Alexander Benedetti as Secretary General and Roger Messenger as Hon Treasurer.
Over the next two years the board will have the task of repositioning Tegova within the hierarchy of international valuation standard setting bodies and implementing a new system of Professional Recognition of Valuation Practice to replace the previous certification system under Euro Norm 45013 which has now been withdrawn.
Roger Messenger and Krzysztof Grzesik were also entrusted with the task of assisting the Chairman of the European Valuation Standards (EVS) Working Group, John Hockey (RICS-UK) in spearheading the development of a new edition of European Valuation Standards (EVS) to replace the current EVS published in 2003.
As regards the new system of "Professional Recognition of Valuation Practice" it was agreed that France, Italy and Poland would undertake pilot projects before the system was rolled out in the rest of Europe.
Progress was also made in connection with Tegova's application to the European Commission for a Common Platform for the Valuation Profession under Article 15 od Directive 2005/36/EC.
Tegova has also had some success in lobbying the European Commission in connection with the EU's current aim of integrating the process for mortgage lending. In this connection Tegova has accepted the Commission's invitation to help draft the valuation section of the next stage of the Commissions project.
Finally there was much discussion on current issues concerning the valaution for financial reporting under International Financial Reporting Standards and a proposed new definition of "Fair Value".