In Sofia, The TEGoVA autumn assembly was held, ending the four-year cycle of setting European valuation standards.

Highlights: TEGoVA adopts EBVS.

More than 95 representatives, 50 associations from the valuation profession from 30 countries, including Argentina, Mexico and the USA, attended the autumn TEGoVA General Assembly in Sofia. The Assembly was also attended by representatives of BHPA, President prof. dr. Muharem Karamujić and Vice President Mr. Emir Hodžić. The Assembly was organized by the Chamber of Independent Appraisers in Bulgaria (CIAB).

The main topic of the General Assembly was the adoption of the final texts of the European Valuation Standards (EVS 2020) and the European Business Valuation Standards (EBVS – 1st Edition). Following the presentations of Mr. Michael Reinberg (President), Mr. Jeremy Moody, Cédric Perrière and Angelos Simos, members of the Committee on European Valuation Standards, and Mrs. Danijela Ilic, Chair of the Committee on European Valuation Standards, both standards were adopted. EBVS will be launched at the Warsaw Conference on March 24, 2020, and EVS 2020 in Brussels on May 15, 2020.

It is worth noting that BHPA President prof. dr. Muharem Karamujić made a significant contribution to the creation of the first edition of European Business Valuation Standards as a member of the Committee on European Business Valuation Standards, which also produced the first edition of EBVS. The area of business valuation is finally being standardized, which will be of great importance for the entire business sector in Bosnia and Herzegovina.