Do you know the risks of asset appraisal? Do you know how to guard against the risk of asset appraisal? The following is the knowledge I brought to you about the risks of asset appraisal and its prevention. Welcome to reading.
First, the meaning of asset appraisal risk
There are many understandings of the risk of asset appraisal. For example, what does asset appraisal risk mean? Is it possible for the unit or individual related to asset appraisal to suffer losses due to asset appraisal? ; Meaning? Due to the deviation between the evaluation value range and the objective value, whether the error (non-fraud or illegal behavior) of the evaluation subject may harm the interests of the users of the evaluation report, and whether the appraisers should bear corresponding responsibilities? ; Meaning? The appraisal value of the entrusted assets by the asset appraisal institution seriously deviates from the current market price, causing great economic losses to customers, third parties and other uncertain interested parties, and the related legal responsibilities such as administrative punishment, civil compensation and criminal punishment brought to the asset appraisal institution and appraisers by the resulting legal proceedings? .
Second, the types and manifestations of asset appraisal risks
Because asset appraisal activities involve a wide range of economic fields, there are many forms of asset appraisal risks, which can be summarized into two categories, namely uncontrollable risks and controllable risks.
(1) Uncontrollable risks
Uncontrollable risk, also known as rigid risk, is the risk that the asset appraisal institution cannot directly control itself, but may lead to errors or major deviations in the appraisal results. This kind of risk is caused by external factors, which are beyond the control of evaluation institutions and appraisers. Its manifestations mainly include:
1. Risks caused by lack of laws and regulations. Up to now, China has not formulated the Law of China on Certified Asset Appraisers, and the appraisal industry itself has not formulated a complete legal system. China's evaluation and supervision system has not yet been formed, and it is difficult to verify the objectivity and fairness of asset evaluation results. Appraisers' practice lacks sufficient legal basis.
2. Risks brought by government administration. At present, the administrative departments of asset appraisal in China are not unified, and each department has different policies when performing management functions and formulating professional standards, which affects the normal and orderly conduct of asset appraisal. Some local governments and industry authorities intervened in the appraisal activities for specific purposes, forcibly participated in the appraisal, and even thought that the appraisal results were manipulated, which seriously affected the fairness of the appraisal conclusion and caused the assets appraisal value to be seriously inaccurate.
3. Risks caused by imperfect market information. Due to the imperfect development of China's capital market, it is difficult to find a fair valuation standard. The phenomenon of accounting information distortion is serious, the market transaction information and related technical parameters are insufficient, and the information reliability is not high, which increases the evaluation risk of appraisers.
4. Risks arising from the immature development of the industry itself. The formation and development of China's asset appraisal industry is short, and the research on appraisal theory and method in theoretical and practical circles is still in the exploratory stage. The standard system of asset appraisal has not yet been formed, which makes appraisers lack sufficient professional foundation and brings risks.
(2) The risk is controllable
Controllable risk, also known as flexible risk, is the risk that asset appraisal institutions and appraisers can control and guard against, which depends on the construction of internal appraisal quality control system of appraisal institutions and the comprehensive quality of appraisers themselves. Mainly in the following aspects:
1. Assess the possible risks caused by imperfect internal management. For example, the legal concept of individual evaluation structure is weak, and some illegal or controversial assets are also evaluated; Take unfair competition means such as price reduction and monopoly to undertake business; Illegal operation when undertaking business, providing evaluation services for related parties or customers with direct interests; There is a gap between the scale, personnel structure, practice level and evaluation purpose of the evaluation institution. All these situations may bring risks to the evaluation institutions.
2. The possible risks caused by low professional ethics. China's "Basic Standards for Professional Ethics of Assets Appraisal" stipulates that certified asset appraisers should be honest and trustworthy, diligent and conscientious, and abide by the principles of independence, objectivity and impartiality. However, in practice, some appraisers rely too much on the information provided by the entrusting party, ignore the marketability of judging the asset value scale, meet the improper requirements of the entrusting party in principle, obviously overestimate or underestimate the value of the entrusted assets, and lead to the evaluation risk.
3. Risk assessment caused by limited professional level and insufficient professional ability of appraisers. China's "Basic Standards of Professional Ethics for Assets Appraisal" stipulates that certified asset appraisers should receive special education and training, have corresponding professional knowledge and experience, and be competent in appraisal business. However, in practice, the appraiser's knowledge structure and experience are always limited, and the appraisal object and objective environment are constantly changing, which makes the appraisal result possibly wrong. Even experienced appraisers will misjudge because of the complexity of the appraisal object and environment, which will lead to the appraisal risk.
In practical work, there is no strict boundary between controllable risk and uncontrollable risk, and sometimes they are intertwined. For example, some controllable risks are caused by uncontrollable risks.
(C) the reasons for the formation of asset appraisal risks
Through the analysis of the types and manifestations of evaluation risk, the causes of evaluation risk can be summarized as follows:
1. Defects of laws and regulations, etc.
Asset appraisal has only developed for more than ten years in China, and the laws and regulations are still far from perfect. At present, only the State Council 9 1 Order "Measures for the Administration of State-owned Assets Appraisal" and other relevant management measures and regulations are used as the basis for asset appraisers to practice. In asset appraisal management, different departments have different administrative regulations, which leads to multi-head management, different laws and regulations and inconsistent practice standards in the appraisal industry. The existence of these problems invisibly increases the risk of evaluation institutions practicing according to law.
2. The scientific and unified asset appraisal standard system lags behind.
The increasingly professional, comprehensive and international business development trend provides an unprecedented broad market for appraisers, and also puts forward more professional and comprehensive requirements for appraisers. But at present, except for two basic standards and one specific standard issued and implemented by the Ministry of Finance, other specific evaluation standards and evaluation guidelines are still being formulated and revised. The imperfection of asset appraisal standard system will inevitably lead to the high risk of appraisers' practice itself.
3. The government's administrative intervention and manipulation
In asset appraisal management, different departments have different administrative regulations, which leads to the monopoly of the industry and the fragmentation of the asset appraisal industry, making each industry have its own territory, and asset appraisal has lost the soil of free competition. In some evaluation matters such as merger, merger and transfer, the government administrative department will intervene and manipulate the fair valuation of assets by the evaluation agency for various reasons, which objectively increases the risk of the evaluation agency.
4. Lack of perfect internal management system and quality control system.
At present, many appraisal institutions have not established a sound internal management system and corresponding quality control system, and lack of quality control over the entry of projects, the signing of agreements, asset inventory and evaluation, specific evaluation and estimation, and the preparation of evaluation reports, resulting in appraisers only paying attention to work speed and economic benefits, while ignoring evaluation quality. Weak risk awareness is the main reason why the quality monitoring system of evaluation institutions is not perfect.
5. Evaluation institutions lack the necessary incentive mechanism.
Evaluation quality has nothing to do with the interests of appraisers, so it is difficult to arouse the enthusiasm of appraisers to pay attention to evaluation quality, which often brings potential risks to appraisal institutions and personnel.
6. The appraisers' professional ethics and professional ability are low.
In order to do more business and increase income in the limited market, appraisers often do not comply with the requirements of professional ethics, abuse appraisal assumptions, practice fraud, choose appraisal parameters at will, overestimate or underestimate the value of assets, thus laying a hidden danger for the occurrence of asset appraisal risks. Assets appraisal requires appraisers to have rich professional knowledge, work experience and strong professional ability. However, due to the late start of asset appraisal in China, the theory of asset appraisal is not very mature, the appraisers lack the initiative to learn, and the relevant training work is not in place, which leads to the appraisers' low professional quality and limited practice ability, which directly leads to the evaluation of risks.
(D) Prevention of assets evaluation risks
Through the above analysis of the causes of asset appraisal risks, we can take the following measures to prevent asset appraisal risks:
1. Accelerate the construction of legal standards related to asset appraisal.
Unify legislation and speed up the construction of assets evaluation laws and regulations. In view of the imperfect and inconsistent laws and regulations of asset appraisal in China, and the fragmented and multi-headed management of asset appraisal, we should first formulate the Asset Appraisal Management Law as soon as possible, and include both state-owned assets appraisal and non-state-owned assets appraisal in its management scope as the legal norms of asset appraisal industry-wide management. Secondly, in order to strengthen the management of certified asset appraisers and give full play to the service role of certified asset appraisers in safeguarding the rights and interests of various owners and social credibility, the Law of People's Republic of China (PRC) on Certified Asset Appraisers should be enacted as soon as possible. Through unified legislative management, asset appraisal will be brought into the legal track, so that asset appraisers can have laws to follow, and the healthy and orderly development of asset appraisal industry will be guaranteed and promoted.
Establish an asset evaluation criteria system as soon as possible. In view of the fact that there are no professional standards in many appraisal fields, which leads to strong subjectivity, low quality and high risks in appraisal work, appraisal associations should actively promote and carry out the research on the theory and practical operation methods of asset appraisal, formulate specific appraisal standards and guidelines, introduce appraisal guidance and quality control standards for asset appraisal as soon as possible on the basis of the Basic Standards for Asset Appraisal and the Basic Standards for Professional Ethics for Asset Appraisal, and establish a unified asset appraisal standard system in China to make asset appraisal more effective.
2. The government should create a good development environment for the appraisal industry.
The government should implement unified administrative management, and mainly guide and supervise the evaluation institutions in macro aspects according to national laws and regulations. Administrative departments should actively create a level playing field for asset appraisal institutions and support appraisal institutions to take the road of independent development of enterprises. Government administrative staff should change their ideas, establish the consciousness of serving the intermediary service industry, and prohibit administrative intervention and man-made obstacles.
3. Asset appraisal institutions should strengthen the prevention of assessment risks.
Appraisal institutions should not only pursue immediate interests, but also proceed from long-term interests to strengthen the prevention of asset appraisal risks.
Establish a high-quality staff. Asset appraisal institutions should establish strict employment standards, recruit personnel who have obtained the qualification of registered asset appraisers, cultivate a group of business backbones with heart, and pay attention to the construction of team echelon. Asset appraisal institutions should hold effective training regularly, encourage staff to study by themselves, and supervise and guide their work to improve the overall quality of the team.
Appraisal institutions should establish a reward and punishment system for appraisers, which can not only fully mobilize the enthusiasm of appraisers, improve the quality of practice, but also play an effective and positive role in preventing risks.
Hire an asset appraisal expert as an institutional consultant. Because the assets appraisal involves a wide range and the knowledge of each appraiser is relatively limited, it is very necessary for the appraisal institution to hire assets appraisal experts as its own consultants. The appraisal institution may, according to the main appraisal fields it is engaged in, employ experts with certain attainments in financial accounting, engineering technology, economic management, finance, law and special assets as its own consultants, consult on the difficulties and doubts in the practice of asset appraisal, and receive regular training, education and professional guidance in the laws, regulations and practice norms of asset appraisal. The establishment of asset appraisal consultant is helpful to improve the quality of appraisal work and prevent appraisal risks.
Further improve the content and format of the asset appraisal report. In the appraisal practice, there are some cases in which appraisers lose the case due to improper presentation of the report, so appraisers should standardize the content and format of the asset appraisal report according to different appraisal scopes to ensure that all the data in the report are well documented. At the same time, try to add some protective clauses or contents to the asset appraisal report. The writing of asset appraisal report should be uniform in format, standardized in content, accurate in expression and concise in language. Perfecting the content and format of asset appraisal report is helpful to reduce the use risk of asset appraisal results.
Establish an asset appraisal risk insurance system. In order to reduce the possible economic losses caused by asset appraisal risks, and learn from the practices of the same industry at home and abroad, appraisal institutions should establish an appraisal risk insurance system, such as establishing their own professional risk funds for self-protection, or applying to insurance companies for establishing appraisal professional liability insurance.
Strengthen the internal management of evaluation institutions and establish an internal quality control system. Asset appraisal institutions should strengthen internal management, establish and improve various rules and regulations, and establish complete and detailed standardized practice procedures, such as standard system of practice operation, project responsibility system, internal audit system, risk assessment system, etc., so as to protect the interests of themselves and appraisers to the maximum extent and minimize risks.
Establish the internal quality control system of the whole evaluation process, including the internal quality control system of the whole evaluation process, including the acceptance of evaluation business, preparation of early evaluation, specific evaluation estimation, issuance of evaluation report and management of evaluation files. At each stage, the focus and quality of the assessment work should be clearly defined, as well as the problems that the appraisers should pay attention to when preventing risks. Establishing an internal quality control system in the evaluation process is a key measure to avoid the evaluation risk.
4. Appraisers should improve their comprehensive quality.
In order to prevent the risk of being stopped from practicing, appraisers should strive to improve their comprehensive quality in order to realize the rapid development of their personal career.
Change the concept and enhance the awareness of risk assessment. Asset appraisers must change their concepts and fully realize that asset appraisal risk is a big issue related to their own survival, development and vital interests. In order to improve the ability to resist risks, appraisers must strengthen their own professional ethics construction, establish the awareness of lifelong learning, and constantly improve their professional theory and practice level.
Strengthen the construction of professional ethics. The Basic Code of Professional Ethics for Assets Appraisal puts forward clear requirements for standardizing the professional ethics of certified asset appraisers and improving their professional ethics. A certified asset appraiser shall be honest, diligent and conscientious, and abide by the principles of independence, objectivity and impartiality. Asset appraisers should not be interfered and influenced by any other unit or individual in the process of undertaking business, evaluating operations and forming evaluation report forms, and should maintain dual independence in substance and form to avoid improper accusations from users of evaluation reports.
Vigorously improve their professional quality. Asset appraisers should fully understand and master the laws and regulations related to asset appraisal through theoretical study and practical training, strictly follow the operating rules of asset appraisal, and master the theory and methods of asset appraisal. Asset appraisers should establish the awareness of lifelong learning, consciously participate in vocational education and training, carry out various forms of business exchanges, and improve their ability to deal with and solve practical problems in the evaluation process.
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